This work is a first tentative to explore, by simulation, the radiation response of III-V binary compound semiconductors subjected to high energy atmospheric neutrons. The study focuses on the radiation response of eight III-V materials: GaAs, AlAs, InP, InAs, GaSb, InSb, GaN and GaP. For each semiconductor, the interaction rates of a bulk material target exposed to a neutron source mimicking the atmospheric neutron spectrum at sea-level is evaluated both from direct calculation using nuclear cross section libraries and by Geant4 simulations. These latter are also used to investigate in detail the reaction rates per type of reaction (elastic, inelastic, nonelastic) and to classify all the neutron-induced secondary products considering their atomic number and energy. Implications for single event effects are analyzed and discussed, notably in terms of electrical charge deposited in the material with respect to the critical charge for technologies ranging from 180nm to 14nm.