Homeland Security and Emergency Management Market Value Projected to Exceed $840 Billion by 2025

Homeland Security and Emergency Management Market Value Projected to Exceed $840 Billion by 2025

PR Newswire

PALM BEACH, Florida, June 25, 2020

Financialnewsmedia.com News Commentary

PALM BEACH, Florida, June 25, 2020 /PRNewswire/ -- Increasing global threats (including terrorism and pandemic monitoring) have forced governments to employ high levels of security at borders, airports, public institutions, ports and transportation systems, thus driving the market. A recent report from Markets And Markets projected that the homeland security and emergency management market size is projected to grow from USD 623.1 billion in 2020 to USD 846.5 billion by 2025, at a CAGR of 6.3% from 2020 to 2025. The market growth is driven by various factors, such as increasing terrorist threats, pandemics and biohazard attacks, rising adoption of cloud-based applications and cloud computing technologies, and upgradation of outdated equipment and infrastructure. Additionally, leading homeland security equipment manufacturers are coming up with advanced security systems for armored vehicles, patrolling ships, and unmanned platforms, thereby contributing to the market growth. Several market players, are focusing on developing and modernizing homeland security systems with advanced features for conducting effective ISR missions and border protection & surveillance. Active tech companies in the markets this week include FLIR Systems, Inc. (NASDAQ: FLIR), Plymouth Rock Technologies Inc. (CSE: PRT) (OTCQB: PLRTF), eMagin Corporation (NYSE: EMAN), Maxar Technologies Inc. (NYSE: MAXR), Patriot One Technologies Inc. (OTCQX: PTOTF) (TSX: PAT).

The report stated: "Based on solution, the systems segment is projected to witness a higher CAGR than the services segment during the forecast period. The homeland security and emergency management market has been segmented based on solution into systems and services. The systems segment is projected to lead the market from 2020 to 2025. The growth of this segment can be attributed to increasing global threats, which have forced governments to employ high levels of security at borders, airports, public institutions, ports, and transportation systems. Intelligence and surveillance systems help detect, track, and recognize unauthorized intruders, namely, terrorists, illegal immigrants, and smugglers, who can endanger the lives of citizens. The systems segments cover intelligence and surveillance system, detection and monitoring system, weapon system, access control system, and platforms, among others."

Plymouth Rock Technologies Inc. (CSE: PRT) (OTCQB: PLRTF)  BREAKING NEWSPLYMOUTH ROCK TECHNOLOGIES ISSUED PATENT FOR ADVANCED THREAT SCREENING TECHNOLOGY   -  Plymouth Rock Technologies ("Plymouth Rock", "PRT", or the "Company"), a leader in the development of cutting-edge threat detection technologies, is pleased to announce the issuance by the UK Patent Office of patent PM333755GB that covers the utilization of millimeter wave (MMW) technologies for fast, contactless screening of passengers and individuals in highly secure environments.

Harmless MMW technology is used in almost all airports in a portal form to safely screen people, providing a greater degree of search intelligence. This patent is one of the first of its kind to be issued where MMW technologies are utilized to penetrate various footwear materials.

Launched in 2019, the US Department of Homeland Security (DHS) Science & Technology Apex Screening at Speed program is about systematically developing technologies for passenger screening by leveraging existing state-of-the-art technologies from industry, academia, national laboratories, and other government organizations. PRT's technology will work within the current systems such as advanced imaging portals. It will also resource other security projects and efforts complimentary to the task.

"We are confident that the building of the PRT patent portfolio, combined with our in-house know-how, will provide our brand with immediate and long-term market relevance," said Dana Wheeler President and CEO of PRT. "This patent is an important component of our intended intellectual property roadmap. The granting of this patent whilst a significant achievement, is already being expanded by our team that will deliver further intellectual property that will cover both North America and the EU," concluded Wheeler.

PRT is also pleased to announce that Dr. Matthew Southgate, co-author on the patent, has joined the PRT team, to assist in further product development as we move towards commercial trials of the Shoe Scanner (SS1) platform.

"Today's marketplace is extremely competitive with the introduction of new technologies almost daily, however, it is rare to see a patent issued for a global technology leveraging both passenger convenience and removing operational headaches for the TSA," stated Douglas Smith, Chairman of the Board and former Assistant Secretary of the US Department of Homeland Security. "Combining patented cutting edge technology with the operational needs of the Department, is the "Holy Grail" for the frontline operational personal of the Department." concluded Smith.    Read this and more news for PRT at:  https://www.plyrotech.com/news/ 

Other recent developments in the tech industry include: FLIR Systems, Inc. (NASDAQ: FLIR) recently announced the FLIR Screen-ESTTM software for FLIR T-Series, Exx-Series, and A-Series thermal imaging cameras. The software provides automatic measurement tools that perform elevated skin temperature screenings of individuals in two seconds or less at entries, checkpoints, and other high-traffic areas while maintaining recommended social distancing guidelines.  "Governments and businesses across the globe are hard at work developing new processes to ensure public health and safety from COVID-19, including the use of radiometric thermal imaging cameras as part of a comprehensive frontline screening program," said Jim Cannon, President and CEO at FLIR. "Now with FLIR Screen-EST software, those organizations can increase the speed and accuracy of frontline screening when using FLIR's thermal cameras."

FLIR Screen-EST software is designed to automatically take a skin temperature measurement near the tear duct of each person, the surface area most closely correlated to core body temperature. When used with T-Series, Exx-Series, or A-Series cameras, the software enables screening of individuals to occur 50 percent faster than FLIR Systems' existing on-camera screening mode, accelerating throughput. If the software detects a skin temperature that exceeds a threshold set above the baseline average, Screen-EST will notify the operator and display or sound an audible alarm on the subject's viewing monitor. The individual then should be directed to a secondary medical screening.

eMagin Corporation (NYSE: EMAN) recently announced it has been awarded $5.5 million under the Industrial Base Analysis and Sustainment (IBAS) Program for Organic Light Emitting Diode (OLED) Supply Chain Assurance. These funds are for procurement and installation of capital equipment in eMagin's NY-based manufacturing facility, which we believe will enhance our manufacturing capabilities.

This IBAS award will be managed under the Cornerstone Other Transaction Authority (Cornerstone OTA) and fully funds Phase I of a three-phase agreement. The IBAS Cornerstone OTA was created to focus on strengthening the U.S. Manufacturing and Defense Industrial Base. eMagin's OLED microdisplays are used, or designed in, many current and future defense Programs of Record including a broad range of PEO Soldier programs, F-35 HMDS, and other aviation helmet programs.

Patriot One Technologies Inc. (OTCQX: PTOTF) (TSX: PAT) wholly-owned subsidiary Xtract Technologies ("Xtract AI") recently announced it has secured a $199,000CAD contract with Canada's Department of National Defence through the Public Works and Government Services Canada Division, as part of the Innovation for Defence Excellence and Security (IDEaS) Program.

Operating covertly is key for Army operations and the "Now you see me, now you don't" project is looking for solutions to actively modify the visual and infrared signatures (the pattern emitted by an object) of Army platforms in order to decrease detectability. Xtract AI proposes to leverage recent advances in deep learning and computer vision, along with novel deep learning technology to develop a system capable of assessing the efficacy of any existing or developed adaptive and multi-spectral concealment and camouflage technologies or materials. This will guide the development of technologies that optimally reduce visual and infrared detection of soldiers and vehicles, and enhance the performance of materials designed to eliminate detection in dynamic environments in real time.

Maxar Technologies Inc. (NYSE: MAXR) recently announced that it was selected by the (DHS) to develop an analytics system for characterizing and tracking the behavior of vehicles in multiple domains at scale and in near-real-time. The contract was awarded and is administered through the U.S. Department of the Interior and is valued at $23 million with a five-year period of performance.

With thousands of vehicles moving in and around the U.S. on a daily basis, geospatial operators are challenged with sifting through massive amounts of data to characterize behavior and make important decisions. Maxar's analytics system will augment operator decision-making by delivering data insights and automating time-consuming tasks, enabling operators to spend more time on mission-critical work. "As a leader in Earth Intelligence, Maxar applies the power of machine learning for a range of applications in space and on the ground, enabling game-changing results," said Tony Frazier, Maxar's Executive Vice President of Global Field Operations. "Maxar is honored to continue demonstrating the art of the possible by applying AI/ML techniques to multi-source, multi-domain data to satisfy unique DHS mission needs."

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