Homeland Security (HLS) systems sales revenues constitute approximately 90% of the global homeland security market, leaving 10% for maintenance & upgrades. However, our research shows that by 2015 the gross margins generated by maintenance & upgrades will constitute as much as 40% of the total gross margins, up from 25% in 2006.
Although it is true that most of the maintenance & upgrades markets are captured, the inherent dynamics of government markets will open up this business to 3rd party service providers.
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