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Homeland Security Industry Shows Impressive Growth Says Frost & Sullivan - The Homeland Security (HLS) Market has continued its rapid growth in spite of the global economic slowdown, growing by a healthy 12%
Homeland Security Industry Shows Impressive Growth Says Frost & Sullivan

 

PRZOOM - /newswire/ - Singapore, Singapore, 2010/02/05 - The Homeland Security (HLS) Market has continued its rapid growth in spite of the global economic slowdown, growing by a healthy 12%.

   
 
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Increased government spending, growing public awareness, and rise in private sector spending has contributed to the rising demand of HLS products and services. Discretionary spending has also increased and it continues to migrate towards services rather than products where Service Providers are expected to dominate the HLS landscape in the near future.

According to Frost & Sullivan's Asia Pacific Consultant of Aerospace & Defense Practice Kunal Sinha, the Department of Defense (DoD) Homeland security budget, under the Obama administration has allocated a majority of the funding towards security, enforcement and investigations mission area. The overall budget has grown by 6.2% from the year 2008-09. Customs and Border protection has been the top funded agency for the year 2010.

"The perceived and the real threat of terrorism continues to be the key driver of the Homeland security market. Global terrorist activities have been growing dramatically since 2000, after a relative lull between the years 1990-2000," he continues.

The 2010 Business outlook for the HLS products and services remains strong, buoyed by the increased security threats; organization of mass events like the Olympics and commonwealth games; infrastructure modernization programmes in different countries; protection of critical infrastructure; and Border protection.

"The Global HLS market is expected to be around $50 Billion in 2010, with the United States remaining the largest civil security market in the world," says Sinha.

Frost & Sullivan expects that in 2010, spending for sensors and systems integration will increase in the US. In Latin America, the growing crime rate, continuing cross-border incursions and vulnerable foreign oil companies will drive the civil security market. In the UK, the upcoming Olympic Games and vulnerable mass transport will keep the civil security market buoyant. In the Middle East region, growing terrorist activities and the protection of critical infrastructure like the petroleum complexes will ensure sufficient business for the HLS companies.

"However, it is Asia Pacific which offers tremendous opportunity for growth. The Asia Pacific region contributes to almost 21% of the global HLS spending. Some of the major macroeconomic influences for growth of HLS in APAC are its fastest growing economy, increased public awareness, history of terrorism, huge growth in tourism, localized instability and technological advancement," Sinha states.

He continues, "In the Asia Pacific region, airport security and first-responder services offer the maximum opportunity for growth. China, Japan and India are expected to lead the Homeland Security market in the APAC region although Vietnam, Malaysia and Indonesia have also grown their share over the years and are emerging as potential HLS markets."

In terms of industry specifics, the growing importance of Service providers and their expected dominance in the HLS market in 2010 is the defining trend that has emerged.

"Services in the Department of Homeland Security (DHS) include everything from IT integration, engineering consulting, and management support to construction, guard services, and facility management. These are the areas where DHS spends the most money and where companies, old or new, can still find room to grow," says Sinha.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.

 
 
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Homeland Security Industry Shows Impressive Growth Says Frost & Sullivan

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