The rise in cross-border issues and the need to modernize the existing border security infrastructure are expected to drive the demand for the global border security market in the forecast period, 2023-2027.
According to TechSci Research report, “Border Security Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global border security market is anticipated to witness impressive growth in the forecast period, 2023-2027. The threat of terrorism is rising at a rapid level which is making the countries adopt advanced weapons and equipment to protect national borders. The need to secure international borders from unwanted access fuels the need for border security solutions. The global border security market is driven by the increased demand to procure surveillance aircraft, submarines, advanced communication systems and equipment to guard and monitor the country's borders efficiently. Also, the intelligent surveillance system is gaining popularity among the armed forces and rise in the awareness about the benefits of investing in border security solutions is expected to create new growth avenues for the global border security market in the forecast period.
However, different stringent environmental regulations of different countries may restrain the market growth in the forecast period.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "Global Border Security Market"
The global border security market is segmented into system, platform, regional distribution, and competitive landscape.
Based on system, the market is divided into laser systems, radar systems, camera systems, perimeter intrusion detection systems, unmanned vehicles, wide-band wireless communication systems, command and control (C2) systems, biometric systems, and others. Unmanned vehicles are expected to capture the highest market share in the forecast period, 2023-2027. They are gaining popularity as they help the armed forces in precision targeting, situational awareness, communications relay delivery and defeat threats in different environments and terrains. They find massive demand in the unknown environment as they lower the risk to human life and eliminate the fear of getting captured.
Based on the platform, the market is divided into ground, air, and water. The ground platform is expected to hold the largest market share in the forecast period. Ground border security is employed to prevent cross-border infiltration, international disputes, illegal immigration, and other forms of criminal activity in the country.
On the basis of regional analysis, the North American region is expected to dominate the market over the next five years. High defense expenditure and adoption of advanced technologies and solutions by defense forces are driving the market demand in the region.
Major market players operating in the global border security market are:
- Northrop Grumman Corporation
- Raytheon Company
- BAE Systems PLC
- Thales SA
- Israel Aerospace Industries Ltd.
- Rockwell Collins, Inc.
- Airbus Group SE
- Elbit Systems
- Saab AB
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“The increase in defense expenditure of developing and developed countries is expected to have a positive impact on the market demand in the forecast period, 2023-2027. According to SIPRI, the total military expenditure increased by 0.7 per cent in real terms in 2021 to reach a value of $2113 billion. Leading authorities are constantly looking for solutions that can efficiently monitor border security and raise them in time so that they can make informed decisions. Border security solutions are expected to witness high demand as they are cost-effective, guard and monitor the border constantly and generate high-resolution images and real-time insights. Market players are advised to invest in advancing the solutions and introducing novel products to meet the growing requirements of different countries. High defense expenditure and ongoing research and development activities are expected to propel the growth of the global border security market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Border Security Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By System (Laser Systems, Radar Systems, Camera Systems, Perimeter intrusion detection systems, Unmanned Vehicles, Wide-band Wireless Communication Systems, Command and Control (C2) Systems, Biometric Systems, Others), By Platform (Ground, Air, Water), and By Region”, has evaluated the future growth potential of global border security market and provides statistics information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global border security market.
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