The International Data Corporation (IDC) projects that global spending on security will grow at a compound annual growth rate (CAGR) of 9.2% from 2018 to 2022, forecasting that security-related spending will hit US$133.8 billion in 2022.
This thriving security tenders marketplace creates thousands of opportunities for global defence suppliers every year.
If you are currently winning security contracts and want to increase your client portfolio, learn more about how defence intelligence can help you win more security tender opportunities.
Global Security Marketplace
There are five permanent members of the UN Security Council and 29 NATO members.
NATO members are encouraged to hit the organisation’s 2% of GDP guidelines for defence spending – with this target figure set to increase in the future.
Global defence expenditure is expected to grow as governments all over the world continue to modernise and recapitalise their militaries, bases and security equipment.
DCI publishes defence tenders from across the globe:
- North America
- South America
- Middle East
UK Manned Security Contracts
The UK economy gains hugely from the country’s thriving defence and security marketplace. Defence procurement spend in the UK hit £21 billion in 2019/20.
The country’s security strategy requires innovation, and the Government has been investing heavily in this area of defence.
The Defence and Security Accelerator (DASA) is a cross-body organisation established to help the UK Government access innovative ideas, equipment and services in order to maintain security and military advantage over adversaries.
DASA has run 26 innovation competitions and invested £42.1 million in 278 projects in its first two years. Dr Lucy Mason, Head of DASA, is encouraging new suppliers with niche solutions and innovative ideas to reach out for future opportunities.
Investment In Technology
In recent years, advances in technology have boosted the UK’s security skills; and although innovation brings prosperity, it also poses risks as the country’s adversaries also grow stronger.
In 2019 the UK Government allocated £70 million in investment through its Industrial Strategy Challenge Fund to support research into the infusion of security and protection solutions. Improving the strength and resilience of hardware during the design process better protects consumers from cyber attacks.
On top of this, it also promised to invest a further £30 million to ensure the safety and security of internet-connected smart devices.
Cyber Security Procurement
According to Garter, worldwide spending on cyber security is forecast to reach US$133.7 billion in 2022.
Cyber attacks have increased in frequency over the past few years, some causing global disruption. Countries across the world are investing in cyber security, in an attempt to become safer places to live and work online. To achieve this, governments globally are investing in the cyber security industry and working with the sector to ensure that the best controls for protection are being implemented.
If your business can offer expertise in this area, visit the Cyber Security Procurement section of our website.
DCI is a powerful intelligence platform that can support your business’s efforts to expand its reach and find new customers.
The days of sifting through numerous international news and tender portals are over. Our comprehensive subscription service does all the hard work for you:
Our Security Contracts portal covers areas including:
- Screening & Scanning
- IT & Cyber Security
- Perimeter Protection
- CCTV & Surveillance
- Drone/Counter Drone
- Access Control & Biometrics
- Systems Integration
- Private Security
- Training & Consultancy
- Guarding Services
- Specialist Vehicles
Win With Defence Intelligence
DCI’s suite of defence intelligence tools is suitable for any business that is already working with buyers within this marketplace.
If your business is seeking to secure more opportunities in defence, early engagement is crucial to winning security contracts. DCI supplies users with a wide range of data and insight, from market news through to spend data and advance notice of framework renewals.
Learn more about how your business can access key decision makers, bidders and influencers with our suite of defence intelligence tools. Discover how to win security contracts today with the help of Defence Contracts International.