The increasing cyber-attacks apart from other physical threats is a new add to the market for homeland security. As a result of advancement in internet technology, hacking has increased, leading to increase in threats of cyber-attacks. Failure to limit a cyber-attack may pose significant threat to any nation, as it could lead to leakage of confidential information for illicit purposes.
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Government initiatives to diminish cross border insurgency and terrorist activities has increased the market for homeland securities. Also, surging cases of drug smuggling, illegal immigration and human trafficking is forcing the government to invest into homeland security products creating a growth for global homeland securities market. Along with this, the increase in demand for solutions and products to handle the risk of cyber-attacks also adds to the demand for the homeland securities market. Furthermore, the growth is also influenced by the use of unmanned aerial vehicles (UAVs) for border surveillance by armed forces.
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Homeland security market is bifurcated by security type that includes border security, mass transit security, cyber security, critical infrastructure security, aviation security, CBRN security and maritime security among others. The segmentation is also based on the basis of end users that includes public sector and private sector. The homeland security market is further segmented on the basis of regions into North America, Europe, Asia Pacific, South America and Middle East & Africa.
North America dominates the market for homeland securities due to advancement of technology and vast expenditure in defense. Replacement of traditional equipment of homeland securities is also a reason of growth for homeland security market. Asia Pacific being...