Border surveillance Market Scenario
Border surveillance Market is estimated to register a 5.42% CAGR during the forecast period of 2019–2027
Border surveillance is one of the major necessities of any country to protect against illegal immigration, smuggling, and terrorism. Thus, they are investing more in the procurement of border surveillance equipment, such as UAVs and surveillance cameras. The UAVs are used to survey national borders, conduct transportation checks, and carry out anti-smuggling operations. Some UAVs can fly up to 65,000 feet, which enables them to survey a wider area.
The global border surveillance market is expected to register substantial growth during the forecast period. The growing demand for surveillance drones, the introduction of thermal imaging and panoramic surveillance cameras, and integration of IP technology in surveillance cameras are some of the factors driving the global border surveillance market. Moreover, the increased adoption of the stealth surveillance drones at the vulnerable territorial/coastal borders and the increase in usage of surveillance cameras for the protection of critical infrastructure is also expected to fuel the demand in the border surveillance market.
Segmentation of the Global Border Surveillance Market
The border surveillance market has been segmented into equipment, application, and region. Based on equipment, the global market has been divided into UAVs, surveillance camera, and others. The UAVs segment is expected to exhibit the highest CAGR during the forecast period. This is because UAVs are able to fly at higher altitudes and can survey wider areas of territorial/ coastal borders.
Based on application, the global market has been segmented into coastal border, territorial border, infrastructure, and others. The territorial border segment is expected to record the highest CAGR during the forecast period. This is because a large number of illegal immigrations, smuggling, and terrorist activities are carried out through territorial borders.
Based on region, the global market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate the market due to high investments by the US department of defense into technologically advanced border surveillance equipment. Asia-Pacific accounted for the second-largest market share of in 2018 due to the increasing demand for border surveillance equipment by the countries, such as China, India, and South Korea are propelling the market growth in Asia-Pacific.
The key players in the global border surveillance market are DJI (China), FLIR Systems (US), General Atomics (US), General Dynamics Corporation (US), Honeywell International Inc. (US), Leonardo Spa (Italy), Lockheed Martin Corporation (US), Moog Inc. (US), Northrop Grumman Corporation (US), and Thales Group (France).
The market values and forecast are derived using the Market Research Future (MRFR) research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
MRFR offers report customization to valued customers. Below are the options available for customization:
In-depth profiling of additional market players (3 to 4 companies)
Detailed analysis of a country-level market and related segments as per the report scope (subject to data availability)
Primary equipments covered in the study are UAVs, Surveillance Camera, and more.
The Border Surveillance Market is expected to grow at a rate of 5.42% in the near future.
The top growth boosters in the worldwide market are the heightened demand for surveillance drones, the introduction of panoramic surveillance cameras and thermal imaging, and the rising integration of IP technology in surveillance cameras.
North America is touted to take the leading position in the oncoming period.
Factors responsible for the market growth in APAC are increasing demand for border surveillance equipment by the countries, such as China, India, and South Korea.