Border Security Market will grow at a CAGR of 7.61% during the forecast period 2020-2030. It is evaluated that the Border Security Market will expand and reach around USD 651.5 billion.
The global market for border security is increasing at a rapid pace. According to a recent study report published by the Market Research Future, The global market of border security will grow at a rapid pace over the forecast period. The market is forecasted to witness a slow but steady growth by 2023, which will be a surplus growth at a moderate CAGR during the projected period.
A sudden rise in terrorist activities across the world has forced nations to rethink on protection of the national boundaries. Security systems are equipped with different types of cameras, such as pan, tilt, and zoom cameras, which are connected to internet, to gives access to the information from required locations by wired or wireless connectivity. Aspects, such as rising tension across borders and growing terrorism, are expected to gear up the market growth over the forecast period
The security systems offer various benefits such as keeping accounts for information, suburban areas & enable nations against terrorism & investigation activities in commercial, external threats at different locations. The acceptance of these systems is considerably high in the military sector. Reason behind this is the rise in threat of terrorism and cross-border interventions.
Technological upgradation in the system has facilitated surveillance at remote and critical locations from the precision point of view. This has further increased the implementation rate of advanced security systems with larger product features and improved performance with respect to border security. The border security market development is predicted to grow in the domain of government & law enforcement area due to the increased crime rates across the globe.
The problem of border protection was at lesser side, especially in the European Continent until a few years back. The Schengen agreement allowed free movement amongst the members of the European Union, which had allowed for less investment in the border protection measures. The rise of ISIS and the never-ending inflow of immigrants has forced the members of the European Union to strengthen their border security devices.
Key Players:
Lockheed Martin Corporation (U.S.), Raytheon company (U.S.), Northrop Grumman Corporation (U.S.), Thales SA (France), BAE Systems Plc (U.K), FLIR systems, Inc. (U.S.), and Elbit systems Ltd. (Israel), Cobham plc (U.K), DRS Technologies (U.S.), General Atomics (U.S.), and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the globalBorder Security Market.
Border Security Market – Segmentation
The globalBorder Security Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding.
Segmentation by Platform: Ground, Aerial, Naval
Segmentation by System: Laser, Radar, Camera, Wide Band Wireless Communication, Perimeter Intrusion, Unmanned Vehicles, C2C, Biometric Systems and Others
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific, Middle East & Africa and South America.
Industry/ Innovation/ Related News:
April 2018: Indian Government had started new project to protect India’s borders with Bangladesh and Pakistan. The smart fence system was a project that was implemented by the Border Security Forces (BSF) to close the susceptible gaps along India’s border with Pakistan and Bangladesh.
April 2018: The Defence Department of U.S. had improved its support to the Department of Homeland Security to protect the U.S. border with Mexico.
Regional Analysis:
North America controls the border security market statistics in terms of revenue generation. The operations in Syria and Libya against terrorist outfits are prompting the U.S. to use advanced border security system technology.
The Asia Pacific border security system market is segmented into countries such as China, Japan, India, and South Korea. Asia Pacific region will also see major activity in the border protection space. The conflict in the South China Sea has forced the nations such as Vietnam, Philippines, Malaysia, and Taiwan to reinforce the border security processes against the Chinese. South Korea and Japan will be employing various features to counter the threats from North Korea and China respectively. The European market along with the Asia Pacific region will be as a result the fastest growing market in the forecast period.
India remains the essential country in terms of border disputes in the Asia Pacific. Traditional conflict with Pakistan and impact of repeated terrorist activities emerging from the latter has compelled India to invest heavily in border infrastructure and surveillance. Moreover, territorial disputes with China along the Himalayan ranges have also resulted in increased investments by the Indian Government in the recent years. Persistent impact of immigrants from Bangladesh and Myanmar has raised interior security concerns among the law implementation forces in the country, leading the Government to establish border enclosures and improved surveillance capabilities along the borders.
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