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.
Border Security Market Overview
Border security market will grow at a CAGR of 7.61% during the forecast period 2019-2027. It is evaluated that the border security market will expand and reach around USD 651.5 billion.
Border security is essential for protecting the country from intruders and illegal activities. Various systems that are required for border security are camera, radars, lasers, etc. helps for better surveillance facility and accurate locations of the target.
It helps to protect the citizens and keep them secure from any illegal activities and the military forces. There are various factors that are responsible for the growth of the border security market. The sudden rise of terrorist attacks and political conflicts is one major reason. Also, the increasing uses of unmanned solutions are helpful for better investigations by the defence and military in various countries are important factors.
There are other factors that can affect the automated border control market. One of them is the decreasing budgets for the defence and military especially by the US and other countries. Other than that, the strict policies and rules, and regulations by the government can affect the border security market growth. However, major key players are trying to maintain the regulation to manufacture efficient products.
Developing countries in the Asia-Pacific region such as India and China are also pushing the market towards growth. There are various key players that are developing new technologies for better surveillance and security systems for border protection. However, North America also holds a significant share in the border security market for rapid technological advancements.
COVID -19 Analysis
The coronavirus pandemic has led to the declination of budgets by the governments for the betterment of health facilities. Due to the outbreak, the economic conditions of various countries were severely affected. Several manufacturing units were forced to shut down due to lack of supplies, skilled labour, and further supply. However, many companies are focusing upon technological developments in automated border control that will revive the border security market.
Rapid technological developments for better security will improve the growth of the border security industry. One of the major drivers of the border security market is the rising demand for border security solutions for protecting the country. It will help reduce the illegal activities which may occur upon the international borders. Various activities such as human trafficking, smuggling of weapons, contrabands, drugs, etc. are major drivers. Other than that, the rising cases of terrorist activities are also emerging that are fuelling the border security market growth.
There are several restraints for the border security industry. It is because of the reduction in the defence budgets. Various countries such as the US and others have stricter rules and regulations for the production of body security systems. Also, the costs of these products are very high that can prevent border security market growth in the future years.
Some challenges can affect the market. One of the major challenges in the border surveillance market is efficient supply. It is very important to protect the products from the illegal trading of these products such as weapons, trackers, surveillance systems, etc. Also, maintaining the confidentiality of the systems and protecting them is essential and can be challenging.
The development in the advanced border security market is expected to gain various opportunities. It will promote the manufacture of technologically advanced systems and enhanced performance and features. Enhanced data security will be essential for future years and the use of unmanned systems will possess great opportunities in the border security industry.
The rising cases of terrorist activities and border protection from illegal activities are anticipated to increase the value of automated border control systems. It is projected that the border security industry is anticipated to register a Compound Annual Growth Rate (CAGR) of 7.61% during the forecast period 2019-2025. The border security market will further expand and touch USD 65,150.01million by the forecast period.
Value Chain Analysis
The border security industry will have exponential growth. Due to technological advancements and enhanced systems, the market will grow rapidly. The rising demand for a border security system among various countries to prevent terrorist activities will increase the prices of the equipment. With the increasing demand and high prices, the value of the market will register a drastic growth in the upcoming years.
The advanced border security market is segmented into two sections- system, and platform. On the basis of system, the border surveillance market is further divided into the camera, radar, C2C, wideband wireless communication, unmanned vehicles, laser, camera, biometric systems, perimeter intrusion, and many others.
The biometric system is evaluated to grow at a substantial rate due to its rising demand and usage. Especially in the countries like the UK and the US, the demand for biometric systems has recorded huge growth in recent years. Along with that, the countries are now concerned about rising terrorist activities and these biometric systems help to track these dangerous activities.
On the basis of platform, the market for border security and surveillance is further segmented into serial, ground, and naval. The category of ground is projected to exponential growth in the upcoming years. The ground security system comprises laser, cameras radar, and other systems. The massive investments by the countries like India and China are promoting market growth for achieving better security systems.
On the basis of region, the automated border control market is divided into North America, South America, Asia-Pacific, Europe, Middle East, and Africa. The North American region is expected to hold the largest share in the market. The key players in the market and the government policies in the developed countries like the USA, and Canada are extensively focusing on the development of the border security industry.
The Asia-Pacific region is projected to dominate the border security market during the forecast period. It is evaluated that this region will record the highest CAGR in the upcoming years. The rising concerns and expenditure upon improving the defence sector especially in China and India are some of the major reasons. The rising conflicts among the countries will also promote market growth exponentially.
The European region will also register significant growth in the forecast period. Investments from countries such as France, Italy, Spain, UK, etc. are fuelling the market. The Middle East and the Africa region are also expected to record substantial growth in the border security system market.
There are various border security companies that provide various solutions and products. The key players use various tactics to marinating their position in the market and generate more revenue. Some of the major key players in the border security industry are-
The report overview of the border security industry is as follows-
The score of the report is to give information about the border security system market. It highlights the growth and potential of the market in the future. Furthermore, the report also provides a brief amount of information about the key players.
|Market Size||USD 65,150.01 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Platform,System,Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World|
|Key Vendors||North America, Europe, Asia-Pacific, and Rest of the World|
|Key Market Opportunities||Various systems that are required for border security are camera, radars, lasers, etc. helps for better surveillance facility and accurate locations of the target|
|Key Market Drivers||Rapid technological developments for better security will improve the growth of the border security industry|
The global border security market is anticipated to acquire the market value of USD 65,150.01 million by 2025.
The global border security market is expected to expand at a CAGR of 7.16% by 2025.
The ground-based segment comprises radar, laser, cameras, and others.
The APAC market is expected to grow at the highest CAGR during the review period owing to the increasing defense expenditure of countries such as; India and Chin
Raytheon Company (U.S.), Cobham PLC (U.K.), Lockheed Martin Corporation (U.S.), and General Dynamics Corporation (U.S.) are some of the renowned players of the global border security market.