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One of the major trends contributing to the growth of the Homeland Security market in the US is the introduction of defense-specific security solutions. Some of the vendors, such as Lockheed Martin, Boeing Co., and BAE Systems, are introducing cyber security solutions, which are specifically developed for the Defense sector. This is driving defense organizations in developed and developing countries to adopt such defense security solutions to provide better dedicated security for their systems. This is likely to increase the market revenue, supporting the growth of the Homeland Security market in the US.
According to the report, one of the major drivers in the market is the strong US economy. As the US is the largest economy in the world, and is one the major exporters of arms and ammunitions, it is financially strong. Therefore, the availability of abundant revenue enables it to make significant investments in the Security sector.
iHLS – Israel Homeland Security
Further, the report states that one of the key challenges in this market is the decrease in defense budget. As a result of the increased defense spending in the past few years, the US government has decided to reduce its spending on the Department of Defense. One of the major reasons for this is that the Department of Defense is already well developed. This is likely to affect the revenue flow in the Homeland Security market in the US.
