Mordor: Global Critical Infrastructure Protection Market to Hit $131.33B by 2020

market researchA new Mordor Intelligence report has projected the global critical infrastructure protection market to reach $131.33 billion by 2020 from $87.34 billion in 2015 at a compound annual growth rate of 8.50 percent.

The report forecasts North America will dominate the market as regulatory standards and high levels of market penetration spurred the growth of CIP services in the region, Mordor Intelligence said Monday.

Mordor Intelligence projects the Asia-Pacific to achieve a CAGR growth of 9.02 percent over the forecast period, with China and Japan representing a large market share.

The report indicates that physical security represents more than 60 percent of the CIP security technology market, followed by SCADA security at 10 percent, network security at 8 percent and CBRNE at 5 percent.

Mordor Intelligence also predicted that Honeywell International, BAE Systems, General Dynamics and Lockheed Martin will acquire smaller companies to combine their market position.

You may also be interested in...


Fluor to Compete for Tasks on GSA’s OASIS Contract; Tom D’Agostino Quoted

Fluor holds a five-year position to compete for task orders in multiple professional service areas under the General Services Administration's One Acquisition Solution for Integrated Services contract vehicle.

Damon Griggs CEO Dovel Technologies

Dovel Creates Advisory Board, Names New Leadership; Damon Griggs Quoted

Dovel Technologies has created an advisory board and appointed skilled leadership to provide guidance for the company’s strategic plan to drive innovation, customer success and employee growth. "I am thrilled these well-known leaders have chosen to join Dovel's Advisory Board," said Damon Griggs, Dovel CEO.

MC-130J Airlifter

Lockheed, USAF to Enter Airlifter Munition Delivery Project’s Fourth Phase

Lockheed Martin received a $25M contract to help the U.S. Air force assess the feasibility of deploying weapons through an airlifter under the fourth phase of USAF's Palletized Munitions Experimentation Campaign.