China will likely become the world’s largest national homeland security and public safety market by 2014, says the Homeland Security Research Corp. (HSRC)—a producer of security market research—which made its prediction based on data from reports on China and the United States.
The reports, China Homeland Security & Public Safety Market—2012-2020 and U.S. Homeland Security & Public Safety Market—2012-2020, indicate China is set to become the world’s largest national homeland security and public safety market by 2014, HSRC says.
China’s “dramatic economic growth” has created conditions that support the perceptions that more security is needed, according to Dan Inbar, the China report’s lead analyst. “Three decades of dramatic economic growth have bred social tensions, ethnic frictions and domestic terror which led the central government to invest ‘whatever it takes’ to defend the economical-social-political fabric of China,” he says.
That has resulted in China’s 2011 security market reaching $40 billion and in 2012 reaching $45 billion, a trend that will reach $58 billion by 2015 and $105 billion by 2020, according to Inbar. “China is transforming itself into the global leading source for business opportunities to suppliers of homeland security and public safety products,” he said. In addition, the China report lists policies and actions supporting increased security. Those polices and actions are:
- Two out of every three new airports built in the world are in China
- Under China’s “Twelfth Five-Year Plan (2011-2015),” more is being spent on homeland security and public safety than on defense
- From 2013-2020, the cumulative market of China’s 650 “Safe City” program will surpass $180 billion
- China’s public transportation system, which is the world’s largest, is set to undergo a $20 billion security upgrade
- China’s move toward increased homeland security and public safety have attracted companies such as Bosch, EADS, FLIR, GE, Honeywell, Panasonic, Samsung and Siemens which are already active in that market