ALBANY, N.Y. —The global homeland security market is projected to grow at a compound annual growth rate (CAGR) of 5.6% for the next six years and will be valued at $364.44 billion in 2020, according to a new report.
Titled “Homeland Security Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2020,” the report estimates the global homeland security market was worth $245.72 billion in 2013. The report classifies homeland security products as equipment used for safeguarding the nation against any threats by terrorist organizations and other anti-social groups, and which provide resilience and recovery options in case of any unforeseen attacks.
Security initiatives undertaken by various governments across the world are driving the market for homeland security products, according to the report, available through marketresearchreports.biz. Threats against the homeland include cyber espionage, chemical, biological, radiological and nuclear (CBRN) threats, cross border insurgency, drug and human trafficking, piracy, separatist movements, among others.
The market research study analyzes the drivers and restraints affecting the industry and their impact over the forecasted period. Additionally, it identifies the significant opportunities for market growth in the years to come.