Northbrook, IL -- (SBWIRE) -- 10/30/2020 -- The homeland security and emergency management market size is projected to grow from USD 623.1 billion in 2020 to USD 846.5 billion by 2025, at a CAGR of 6.3% from 2020 to 2025. The market growth is driven by various factors, such as increasing terrorist threats and biohazard attacks, rising adoption of cloud-based applications and cloud computing technologies, and upgradation of outdated equipment and infrastructure. Additionally, leading homeland security equipment manufacturers are coming up with advanced security systems for armored vehicles, patrolling ships, and unmanned platforms, thereby contributing to the market growth.

Several market players, such Lockheed Martin (US), Raytheon Company (US), Northrop Grumman (US), Leidos (US), IBM (US), FLIR Systems (US), Thales Group (France), Elbit Systems (Israel), General Dynamics (US), and Unisys (US) are focusing on developing and modernizing homeland security systems with advanced features for conducting effective ISR missions and border protection & surveillance.

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Based on solution, the systems segment is projected to witness a higher CAGR than the services segment during the forecast period

The homeland security and emergency management market has been segmented based on solution into systems and services. The systems segment is projected to lead the market from 2020 to 2025. The growth of this segment can be attributed to increasing global threats, which have forced governments to employ high levels of security at borders, airports, public institutions, ports, and transportation systems. Intelligence and surveillance systems help detect, track, and recognize unauthorized intruders, namely, terrorists, illegal immigrants, and smugglers, who can endanger the lives of citizens. The systems segments cover intelligence and surveillance system, detection and monitoring system, weapon system, access control system, and platforms, among others.

Based on vertical, the homeland security segment is expected to lead the market from 2020 to 2025

Based on vertical, the market is projected to be led by the homeland security segment from 2020 to 2025. The growth of this segment can be attributed to the increasing adoption of biometric and advanced identification technologies. The threats from cross-border terrorism, cybercrime, piracy, drug trade, human trafficking, internal dissent, and separatist movement are expected to drive the growth of the homeland security segment in the homeland security and emergency management market.

Based on end use, the law enforcement and intelligence gathering segment is expected to lead the market from 2020 to 2025

Based on end use, the homeland security and emergency management market is projected to be led by the law enforcement and intelligence gathering segment from 2020 to 2025. This segment is projected to lead the market due to an increase in patrolling and surveillance activities to dissuade and detect criminal activities. Its main function is to avert and minimize the impact of terrorist attacks, cyber-attacks, and natural disasters.

The market in Asia Pacific is projected to witness the highest CAGR from 2020 to 2025

Based on region, the homeland security and emergency management market in Asia Pacific is projected to register the highest CAGR during the forecast period. Rising terrorist activities, geopolitical conflicts, strikes and protests, chemical attacks, and natural disasters have led major homeland security and emergency management solution providers of the region to develop enhanced techno-efficient homeland security and emergency management systems and equipment. The homeland security spending of China, Japan, and India has been increasing in recent years due to increased possibilities of being targeted by attacks. The Asia Pacific region has also been experiencing instances of terrorist attacks and cyber-attacks, which have caused significant damage to the region. Countries such as India, China, Australia, Japan, Malaysia, and Singapore have taken a stand to counter terrorism by adopting best-in-class physical and cybersecurity systems.

Key Market Players

The major players in the homeland security and emergency management market include Lockheed Martin (US), Raytheon Company (US), Northrop Grumman (US), Leidos (US), IBM (US), FLIR Systems (US), Thales Group (France), Elbit Systems (Israel), General Dynamics (US), and Unisys (US). These players have adopted various growth strategies, such as contracts, acquisitions, expansions, new product launches, and partnerships & agreements, to expand their presence in the homeland security and emergency management market.