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Transparency Market Research: Homeland Security Market Valued at $364B in 2020

Transparency Market Research: Homeland Security Market Valued at $364B in 2020 - top government contractors - best government contracting event
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homeland securityA 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.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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