Rise in Strategic Initiatives by Market Players
Homeland security plays a crucial role in ensuring the safety of both the private and public sectors of nations. Thus, the rise in spending by state and regional government bodies to procure and indicate security solutions is influencing the Asia Pacific homeland security market players to undertake various strategic initiatives such as new product development, strategic partnerships, and mergers & acquisitions. Major players operating in the market include Elbit Systems, General Dynamics, IBM Corp, Lockheed Martin Corporation, Northrop Grumman Corporation, and Thales Group. Some of the strategic initiatives are as follows:
• IBM Corp. has engaged itself in the acquisition of various cyber security and threat detection solution providers to enhance its product portfolio. In November 2021, the company acquired ReaQta to integrate its automated technology for identifying and managing threats. Similarly, in June 2022, the company acquired Randori, which provides attack surface management and offensive cyber security solutions.
• In July 2022, Thales Group acquired ONEWELCOME to enhance its cyber security product portfolio. ONEWELCOME offers one of the prominent customer identity and access management solutions to both public and private players.
Thus, the rise in strategic initiatives taken by market players is enhancing the product portfolio offered. These factors are expected to further augment the growth of the Asia Pacific homeland security market over the forecast period.
Market Overview
Australia, China, India, Japan, South Korea, and rest of Asia Pacific are the key contributors to the homeland security market in the Asia Pacific. Asian countries are investing a lot of money in homeland security. With the Asian region's substantial expenditure on homeland security, particularly in India, Asian Countries are offering India's own Homeland Security expo, which will be essential in delivering the most recent and innovative equipment, technology, and goods for homeland and public security. Senior officers from the Ministry of Home Affairs, the Ministry of Defence, police forces, civil defense forces, industrial security authorities, public security officers, and other industry players will be present at the Homeland Security Expo. Such initiative by Asia Pacific countries on securing their own country from threat is driving the growth of homeland security market. Further, in July 2022, Elbit Systems Ltd.—an Israeli company that develops products for homeland security and commercial aviation was awarded a US$ 80 million contract to supply direct infrared countermeasure systems to a country in Asia Pacific. Elbit Systems would provide C-MUSIC DIRCM systems, as well as Infrared-based Passive Airborne Warning Systems (IR-PAWS), for several aircraft types. Such contracts are propelling the growth of the APAC homeland security market in Asia Pacific. Further, in January 2022, a Memorandum of Understanding was signed by three organizations—Cyber Security Malaysia (CSM), a government organization that provides specialized cyber security services; clecticIQ, a leading worldwide threat intelligence, hunting, and response technology provider; and Synt Malaysian cyber security. The three organizations have committed to engaging in various activities to enhance Malaysia's and Southeast Asia's cyber security posture to resist escalating threats. The important goal is to increase the use of cyber threat intelligence (CTI), a component of cyber security that focuses on gathering and analysing data regarding ongoing and potential attacks. The rising strategic initiatives and investments in the development of cyber security would propel the growth of the APAC homeland security market in the Asia Pacific region.
Asia Pacific Homeland Security Market Revenue and Forecast to 2028 (US$ Million)
Strategic insights for the Asia Pacific Homeland Security provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the Asia Pacific Homeland Security refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.Asia Pacific Homeland Security Strategic Insights
Asia Pacific Homeland Security Report Scope
Report Attribute
Details
Market size in 2022
US$ 46,148.69 Million
Market Size by 2028
US$ 73,390.85 Million
Global CAGR (2022 - 2028)
8.0%
Historical Data
2020-2021
Forecast period
2023-2028
Segments Covered
By End User
By Security Type
Regions and Countries Covered
Asia-Pacific
Market leaders and key company profiles
Asia Pacific Homeland Security Regional Insights
Asia Pacific Homeland Security Market Segmentation
The Asia Pacific homeland security market is segmented into end user, security type, and country.
Based on end user, the market is bifurcated into public security and private security. The public security segment registered the larger market share in 2022.
Based on security type, the market is segmented into border security, mass transit security, cyber security, critical infrastructure security, aviation security, maritime security, and others. The cyber security segment held the largest market share in 2022.
Based on country, the market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. China dominated the market share in 2022.
Elbit Systems Ltd; IBM Corporation; Lockheed Martin Corporation; Leidos; Thales Group; Teledyne FLIR LLC; Northrop Grumman Corporation; Raytheon Technologies Corporation; Textron Systems; and General Dynamic Information Technology, Inc. are the leading companies operating in the homeland security market in the region. "
The Asia Pacific Homeland Security Market is valued at US$ 46,148.69 Million in 2022, it is projected to reach US$ 73,390.85 Million by 2028.
As per our report Asia Pacific Homeland Security Market, the market size is valued at US$ 46,148.69 Million in 2022, projecting it to reach US$ 73,390.85 Million by 2028. This translates to a CAGR of approximately 8.0% during the forecast period.
The Asia Pacific Homeland Security Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Homeland Security Market report:
The Asia Pacific Homeland Security Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Homeland Security Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Homeland Security Market value chain can benefit from the information contained in a comprehensive market report.