Homeland Security and Emergency Management Market

Contracts and New Product Developments are Key Strategies Adopted by Leading Players to Strengthen their Footholds in the Homeland Security and Emergency Management Market

The homeland security and emergency management market is expected to grow from an estimated USD 557.14 Billion in 2018 to USD 742.06 Billion by 2023, at a CAGR of 5.90% during the forecast period. Lockheed Martin (US), Raytheon (US), IBM (US), FLIR Systems (US), and Northrop Grumman are the major players in the homeland security and emergency management market. These companies have manufacturing facilities worldwide and are focused on technological innovations and the development of high-quality safety and security systems. The homeland security and emergency management market is highly competitive, with a large number of global and local market players who have adopted various strategies to expand their global presence and increase their market shares. New product launches & contracts are the major strategies adopted by market players to grow in the homeland security and emergency management market.

Lockheed Martin (US), is one of the key players in the homeland security and emergency management market. The company is a global leader, delivering the entire spectrum of cyber capabilities that integrate, sustain, secure, and advance networks and systems, and train government workforces around the world. Lockheed Martin has adopted the expansions strategy and aims at gaining business through supply contracts from the major agencies of the US government across the world. In 2016, the Department of Homeland Security awarded Lockheed Martin a USD 395 million contract to update its security operations center services. Under DHS’ Next Generation Security Operations Center services contract, Lockheed will upgrade the department’s ability to protect its enterprise-wide networks against cyber intruders.

Raytheon (US) is another key player in the homeland security and emergency management market. The company has an extensive product portfolio and wide distribution network. Innovative products offered by the company and strategic relationships with its channel partners give it an edge over its competitors in the homeland security and emergency management market. The company is closely collaborating with its clients and forming strategic alliances with other key players to reinforce its position in the homeland security and emergency management market. For instance, in 2017, Raytheon was re-awarded an IDIQ Development, Operations, and Maintenance contract, DOMino, worth USD 1 billion over 5 years by the US Department of Homeland Security. Under the contract, Raytheon will help develop DHS's next-generation National Cybersecurity Protection System, delivering new and upgraded capabilities, including intrusion detection and prevention, automation, analytics, and information sharing.

Other companies operating in the homeland security and emergency management market include Northrop Grumman (US), IBM (US), Elbit Systems (Israel), BAE Systems (UK), Thales Group (France), FLIR Systems (US), Unisys Corporation (US), SAIC (US), Leidos (US), Harris corporation (US), General Dynamics (US), CACI International (US), Hewlett-Packard (US), Booz Allen Hamilton (US), Motorola Solutions (US), and Boeing (US). They have adopted the long-term contracts and new product launches strategies to expand their global reach and enhance their market shares.

Related Reports:

Homeland Security and Emergency Management Market by End Use (Law Enforcement & Intelligence Gathering, Cyber Security, Critical Infrastructure Security, Risk & Emergency Services, Border Security, CBRNE), System, and Region - Global Forecast to 2023

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Report Code
AS 1780
RI Published ON
5/11/2018
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