Study: Global Homeland Security Spending To Triple By 2015

The global homeland security spending is expected to receive a major boost in light of recent international terrorist events, as countries look at new ways to thwart terrorists and secure borders. Spending in the industry is expected to triple to $178 billion by 2015, according to industry estimates.

“International expenditure on homeland security is expected to receive a major boost in light of recent terrorist activity,” said Angela Schierholz, senior show manager at Epoc Messe Frankfurt GmbH, organizer of Intersec trade fair and conference which will be held at the Dubai International Convention and Exhibition Centre from January 18 to 20.

The scope of security-related spending has expanded to include more sophisticated information technology and the protection of other vulnerable terrorist targets. Spending for anti-terrorism goods and services is expected to keep growing.

"Homeland security is among the fastest-growing industries today and initially the focus was on airport security but the industry has expanded to include counter-terrorism, emergency management, disaster preparedness, critical infrastructure protection, and increasing the public's overall level of situational awareness and readiness,” Schierholz said.

The homeland security industry now includes chemical, biological and radiological detection, as well as border, rail, seaport, industrial and nuclear plant security. Other vendors include computer and human resources experts, boat makers for the Coast Guard, information and integrated technology companies along with numerous consultants.

The recent Mumbai terror attacks are likely to see a huge jump in homeland security spending in India, which will reach $9.7 billion in the country by 2016.

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