Mary-Louise Hoffman
A Transparency Market Research report predicts global demand for counterterrorism and cybersecurity equipment will trigger a 5.6 percent compound yearly growth in the homeland security market over the next five years.
The value of the HS market is projected to grow from almost $246 billion in 2014 to approximately $364 billion by 2020, the research firm said Tuesday.
Transparency Market Research also foresees a 5.8 percent compound annual growth rate for the industry’s cybersecurity segment and a 6.7 percent CAGR for the critical infrastructure security segment.
Government agencies invest in national security technologies to stop illegal immigration, human trafficking, drug smuggling and terrorist activities, the report states.
Key HS technology vendors include Elbit Systems, General Dynamics, Harris Corp., L-3 Communications, Unisys and Raytheon.
