Homeland Security Market is expected to reach US$ 275.50 Billion by 2028

Rise in Procurement of Various Security Solutions and Services to Provide Growth Opportunities for Homeland Security Market During 2022–2028

According to our latest market study on "Homeland Security Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by End User and Security Type," the market is expected to grow from US$ 188.99 billion in 2022 to US$ 275.50 billion by 2028; it is estimated to grow at a CAGR of 6.5% from 2022 to 2028.

The main aim of homeland security is to provide persistent surveillance for situational awareness. The major applications of homeland security include border ISR (intelligence, surveillance, and reconnaissance) operations, disaster response, event management and security, traffic monitoring, infrastructure security, and mass transit security. Homeland security forces include departments such as police forces, border security forces, federal agencies, and private security agencies.

A large number of countries are heavily investing billions to ensure secured law and order. For this, these countries are focusing on implementing strong and secure infrastructure for almost all types of amnesties such as cyber servers, infrastructure, mass transit stations, airport security, marine borders, and land borders across their respective locations. For instance, in 2021, the US Department of Homeland Security (DHS) announced that it had invested around US$ 52 billion in the nation’s security. Apart from this, the country has been making additional investments for uncertain situations related to domestic security concerns. Similarly, other countries are investing heavily, leading to increased adoption of homeland security technologies and services, thereby propelling the homeland security market growth.

The construction of newly built airports and marine ports is another major factor propelling the adoption of homeland security solutions to avoid threats related to national security. Moreover, the increase in internal threats such as terrorism and riot protests that directly hampers national security management also acts as one of the major concerns for national homeland security departments that is raising concerns for high investments in the global homeland security market. Moreover, the rising conflict among different countries is raising national security concerns. The current warlike scenarios due to conflicts among the countries such as Russia-Ukraine, China-India, Russia-Germany, US-China, China-Taiwan, and India-Pakistan have been leading to increased adoption of homeland security solutions and services across different countries worldwide. Moreover, due to such conflicts, several other countries are also focusing on increasing their homeland security budgets to make it stronger and safer in terms of border, airports, marine, and cybersecurity infrastructures.

In 2022, North America is expected to dominate the market. The US is anticipated to hold major homeland security market share in North America in 2022. The President's Fiscal Year 2022 Budget for Nation Security of US$ 52.2 billion invests in important DHS (Department of Homeland Security) missions and demonstrates the commitment to secure the homeland at borders, in cyberspace, and beyond. This Department's workers are tasked with defending the country, the people, and the way of life by ensuring trade, travel, transit, personal freedoms, and economic development. The President's Budget for Fiscal Year 2022 will support the Department's important missions. For instance, in July 2022, the Secretary of Homeland Security authorized US Customs and Border Protection (CBP) to carry out the Yuma Morelos Dam Project, which would fix 4 years of an incomplete border barrier project at the Morelos Dam in the Yuma Sector of the US Border Patrol. These projects will be supported by DHS's Fiscal Year 2021 appropriations and will address operational impacts as well as immediate life and safety hazards. Further, in July 2022, the Secretary of Homeland Security extended Venezuela's Temporary Protected Status (TPS) for another 18 months. TPS for Venezuela will be extended for an additional 18 months, from September 2022 to March 2024.

The homeland security market growth in Asia Pacific is expected to witness significant rise during the forecast period. According to the homeland security market analysis, China is expected to hold major homeland security market share in the region in 2022. Over the years, China has made major investments in strengthening its police forces and other law enforcement agencies. China has a total of two million police officers. In the special administrative areas of Hong Kong (China) and Macao, INTERPOL Beijing maintains two sub bureaus, each with assigned regional jurisdiction (China). Additionally, the Ministry of State Security is the principal civilian intelligence, security, and secret police agency of the People's Republic of China, responsible for counterintelligence, foreign intelligence, and political security.

The homeland security market is segmented based on end user and security type. Based on end user, the homeland security market is bifurcated into public security and private security. In terms of security type, the homeland security market is segmented into border security, mass transit security, cyber security, critical infrastructure security, aviation security, maritime security, and others.

Homeland Security Market - by Region, 2022

Raytheon Technologies, Northrop Grumman, IBM, L3Harris Technologies, and Lockheed Martin Corporation are among the key homeland security market players profiled during the study. Several other major companies were studied and analyzed during this research study to get a holistic view of the homeland security market and its ecosystem. The homeland security market report provides detailed insights, which helps the homeland security market players strategize their growth.