107% Hike in 2014 U.S. Funding for Embassy Security Upgrades
The Global Homeland Security & Public Safety Market – 2014-2022 report reveals that in 2013 $112 billion (34%) of the Global HLS & Public Safety industry revenues came from the high gross margin service and upgrades business
Driven by Benghazi terror attack in 2012 and intelligence indicating terror attacks on embassies in the Middle East and Africa, the U.S. shut down 19 embassies in August of 2013. Aside from exposing the soft underbelly of the U.S., Al Qaida also scored a media victory by disrupting the operations of the U.S. without firing a single shot.
In light of these global events of the past year, the U.S. Diplomatic Security, which is charged with protecting 285 State Department facilities in 189 countries, requested a $2.7 billion budget for 2014, a 67% increase over 2013 level. Out of this budget, the diplomatic corps facilities security upgrade funding will double from $745 million in 2013 to 1.55 billion by 2014.
This market will be open for technological innovation and will include business opportunities for electronic intrusion detectors, smart video surveillance and command & control systems and blast resistant technologies.