Public Safety Concerns to Drive Homeland Security Market Growth

data graph chartThe homeland security market will see a compound annual growth rate of 9.86 percent through 2019 due to increasing demand for public safety and security technologies amid terrorist attacks, says in a new report.

The firm said Sunday the need for quick response from law enforcement to threat incidents will drive the demand for border, aviation, maritime, counterintelligence, homeland defense and CBRN (chemical, biological, radiological and nuclear) security.

“With an increase in terrorism, law enforcement agents are expected to look proactively for a suspect, act quickly to rescue victims in case of an attack and take precautionary safety measures,” said.

However, it added that the discrepancy in government regulations for testing homeland security technologies presents a challenge to the market.

The report listed BAE Systems, General DynamicsLockheed MartinNorthrop GrummanRaytheon as key market players.

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