Jay Clemens
TechNavio forecasts a 9.86 percent compound annual growth rate for the global homeland security market from 2014 through 2019 as public sector demand for identification and security checking systems is poised to increase.
TechNavio’s new report calculated the market size for the forecast period by considering revenues generated from six segments: border, aviation and maritime security, counter intelligence and homeland defense security, and chemical, biological, radiological and nuclear security, ReportBuyer said on Feb. 12.
The report also contains a discussion of tier-one market players such as BAE Systems, General Dynamics, Lockheed Martin, Northrop Grumman and Raytheon.
ReportBuyer notes a need for nations to invest in explosives detectors, body and baggage screening  technologies and other security systems updates amid growing threats from terrorist attacks, illegal arms, illegal immigration and drug trafficking.
The report cites criminal cross-border activities and internal security coordination as some of the world’s other major concerns.
