U.S. Homeland Security Market to Reach $140 Billion in 5 Years
WASHINGTON
The Civitas Group, a homeland security consulting service, released a market survey revealing that government and private spending on homeland security products and services worldwide was an estimated $55 billion for the 2006 fiscal year, up nearly a third since the last study two years ago.
The U.S. homeland security market represented $31 billion of the estimated total. Civitas predicts that the U.S. market will grow in the next five years to be worth an estimated $140 billion.
According to the report, the federal government is the primary customer in the United States for homeland security and anti-terrorism services, spending approximately $18 billion in 2006. The private sector, along with port and transit authorities, will spend more than half of what the federal government spent, and local and state governments will spend approximately $3.5 billion.
Another key finding of the report is that the largest sectors of the $140 billion spending will be in intelligence at 21 percent, law enforcement and counter-terrorism at 17 percent, safeguards against biological and chemical attacks at 12 percent, and cyber, border, port and aviation security each between 6 and 8 percent.
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