Market Potential
Nearly three years after September 11, the Federal government is finally breaking out the checkbook. Despite a mushrooming federal deficit, the Bush Administration has booked a 10% hike in spending for the Department of Homeland Security in fiscal 2005, which starts in October. That will boost its budget to 40.2 Billion. And while past funding increases went largely to personnel- primarily airport screeners - most of the new money will flow to anti-terrorism tools under development by the nation's technological wizards.
And that's just the start. Tally it all up and government and private sector security spending will hit $130 Billion to $180 Billion a year by 2010, up from $65 Billion in 2003, calculates consultant Homeland Security Research Corp. in San Jose, California.
Panoptic Systems Inc. is currently applying for a "Home Land Security" development grant of $3,000,000.00. Our consultants inform us that grants like ours are being fast-tracked to aid in the national security effort.
