Security and Europe’s economy
Beyond the primary role of protecting Europe’s citizens, technological innovation in the security sector will contribute to economic growth and competitiveness. The range of threats to highly advanced societies today, whether natural or man-made, means Europe’s security industry is destined to have a growing place in its economy.
Some idea of the current size of Europe’s security market can be gleaned from an independent study done in December 2009 for the Commission, “Study on the Competitiveness of the EU security industry [3 MB] ”.
Focused on the equipment sub-sectors of aviation, maritime and border security, critical infrastructure protection, counter-terrorist intelligence capabilities and first- responder demands, the study places the value of Europe’s security market in 2008 in the estimated range of EUR 26-36 billion.
The Security Research programme is structured to make sure its door stays wide open to those with new ideas and the ability to innovate quickly. Thus, beyond Europe’s established players, it embraces many independent entrepreneurs and SMEs (small and medium-sized enterprises). Indeed, the programme’s budgetary support for SME [407 KB] participation in security R&D projects is well above the 15-percent minimum requirement for EU-funded (FP7) research projects in general.
Europe’s security sector is a young one, however, whose composition and market dynamics across the 27 are still evolving. Aligning the sector’s public demand with private supply in support of economic growth and a safe society for Europe is a key policy challenge for the future.