Pune, India, September, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Border Security Market Research Report.
The global border security market is anticipated to grow at a CAGR of over 8% during the forecast period of 2017 to 2023 according to the latest report released by Market Research Future (MRFR). Border security has become a global priority due to rising homeland security and the increased importance of security measures. Rising tensions between borders and increasing acts of terrorism have increased the demand for effective border security.
Cross-border tensions have been increasing in recent years due to a combination of various socio-economic and political tensions, thus driving demand for appropriate security measures. Border security systems offer various advantages such as the recording of pertinent information and enabling investigation activities while controlling external threats in different locations. The military sector also makes great use of these systems, thus driving growth for the market. Additionally, illegal immigration, human trafficking, and individuals seeking asylum have grown exponentially in the recent years due to several socio-economic and political factors which are expected to result in the heavy use of border security systems for the reduction of the same. Governments are taking initiatives to set up the provision of national IDS, and e-passports which will drive the adoption of border security systems.
Innovation in technology is expected to facilitate increased implementation of advanced systems and provide market growth opportunities over the assessment period.
The global border security market is segmented on the basis of platform, system, and regions. By platform, the market is segmented into aerial, ground, and naval.
By system, the market is segmented into the laser, camera, radar, wideband wireless communication, unmanned vehicles, C2C, perimeter intrusion, biometric systems and others. Biometric systems are used extensively at the border and initiatives such as national IDs, e-visas and e-passport are expected to drive the use of biometric systems.
Globally, the market is segmented into the Americas, Europe, Asia Pacific and the Rest of the World.
North America accounts for the largest regional market in the global border security market. The region, particularly the U.S. has witnessed several devastating terrorist attacks and have a high population of illegal immigrants which drive the demand for border security equipment and systems. The region is home to several leading market players and displays a strong affinity toward the adoption of highly advanced equipment.
The Asia Pacific has been observed to be a strengthening market due to rising investments in surveillance systems. China, India, and Japan are among the leaders of this market. Rapid economic development and changing socio-economic factors have resulted in increased demand for border security. Territorial disputes between countries in the APAC has further increased investments in border security. High government support with regards to securing borders is also facilitating growth for the market.
Market players included in MRFR's assessment of the competitive landscape are Thales SA, Elbit Systems Ltd., Lockheed Martin Corporation, Cobham Plc, General Atomics , FLIR Systems, Inc., DRS Technologies, Northrop Grumman Corporation, Raytheon Company, and BAE Systems Plc
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