Global Border Security System Market Size and Outlook
Pune, India, 07 Jul. 2022 (GLOBE NEWSWIRE) — The world border security systems market the size should gain ground. The major factor driving the growth of the border security system is the increasing adoption of unmanned solutions by military and defense forces around the world. Fortune Business Insights presented this information in its next report entitled “Border Security System Market, 2022-2029”. Additionally, rising territorial disputes and geopolitical uncertainties in Asia-Pacific could likely boost the market. However, the high maintenance costs associated with maintaining the border security system can be a factor that hinders the growth of the market.
Impact of COVID-19
COVID-19 is a global health crisis that has affected all businesses, and its long-term effects are expected to influence industry growth over the forecast period. Additionally, rising military budgets in developing countries, as well as increased deployment of sea-based security systems to monitor maritime borders, are likely to contribute to the optimistic market outlook.
Get a sample PDF brochure:
List of Key Players of Border Security System Market
- BAE Systems (UK)
- Controp Precision Technologies Ltd. (Israel)
- Elbit Systems (Israel)
- Flir Systems (USA)
- Israel Aerospace Industries Ltd. (Israel)
- Lockheed Martin Corporation (USA)
- Northrop Grumman Corporation (USA)
- Raytheon Company (USA)
- Thales (France)
On the basis of environment, the market is fragmented into air land, land and naval. Based on the system, the market is segmented into radar, laser, camera, unmanned vehicles, perimeter intrusion, broadband wireless communication, C2C and biometric systems. Geographically, the market is segmented into Europe, North America, Asia-Pacific, and Rest of the World.
Report cover –
The research report provides a detailed analysis of the Border Security System market over the forecast period. The report further offers genuine assessment by highlighting data on several factors including growth drivers, restraints, industry developments, and partnerships, mergers and acquisitions. The report also proposes a cumulative impact due to COVID-19 on the market.
Browse the abstract of this research report:
Report Scope and Segmentation:
|Historical year||2018 – 2020|
|forecast year||2022 – 2029|
|Segments Covered||By environment, by system, by geography|
|Forecast units||Value (USD billion) and volume (units)|
|Quantitative units||Revenue in USD Million/Billion and CAGR from 2022 to 2029|
|Regions covered||North America, Europe, Asia-Pacific, Middle East and Africa, Latin America and Rest of the World|
|Countries covered||United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others|
|Number of companies covered||BAE Systems (UK), Controp Precision Technologies Ltd. (Israel) , Elbit Systems (Israel), Flir Systems (USA), Israel Aerospace Industries Ltd. (Israel), Lockheed Martin Corporation (USA), Northrop Grumman Corporation (USA), Raytheon Company (USA), Thales (France) and other key players|
|Report cover||Market Growth Drivers, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Market Attractiveness Analysis by Segments & Region, Market Share Analysis business and analysis of the impact of COVID-19.|
Drivers and Constraints –
Increased Adoption of Unmanned System Solutions to Increase Market Growth
The border security system is expected to be driven by factors such as the adoption of unmanned systems solutions by military and defense forces around the world. An increase in defense spending for technologically superior security systems is a market opportunity that will present itself in the near future. Additionally, growing territorial disputes and geopolitical instabilities in Asia Pacific are likely to drive the growth of the border security system market. However, high operation and maintenance costs may hamper development in the future.
Regional outlook –
North America will dominate the market over the forecast period
North America is likely to dominate the global market throughout the forecast period. The growth is attributed to the technologically advanced border security solutions of leading key market players to secure international borders. Additionally, the governments of the United States and Canada should increase funding to detect and track multiple threats using radar technology.
The Asia-Pacific region is expected to witness the fastest growth in the global border security system market share during the projection period. This is happening because growing economies like China and India are increasing their demand for border security systems. Major European players, such as BAE Systems and Thales, are expected to dominate the market. Growing demand for border security systems to promote national security in Latin America, the Middle East and Africa is driving the expansion of the market in the rest of the world.
Competitive Landscape –
Key Global Defense System Players to Dominate the Border Security System Market
Global defense systems and technology providers such as General Dynamics Corporation, Raytheon Company and Thales Group dominate the market. Many geographies have local players who are equally powerful and provide smaller subsystems of a larger network/project in collaboration with global leaders. Local competitors in the Middle East, North America and Africa pose a danger to global leaders as they attempt to provide a complete solution for a fraction of the price suggested by these global giants without loss of quality or reliability.
Key Industry Development –
January 2021: The French Ministry of the Interior and Idemia have signed a contract for a new biometric border control system. Idemia provided the French government with a biometric border control system to save travelers time during border checks by controllers. A powerful border control system has been designed to synchronize all border control activities.
November 2020: U.S. Customs and Border Protection (CBP) has awarded SAIC a $973 million contract to identify security threats to travelers and cargo.
Find out before you buy:
Read related research insights:
Automated Border Control System Market Size, industry share | Forecast, 2029
unmanned helicopter market Size, Share | Overall report [2020-2027]
Aircraft wheel scanning system Market size | To share [2021-2028]
Fortune Business Insight™ provides accurate data and innovative business analysis, helping organizations of all sizes make the right decisions. We tailor innovative solutions to our clients, helping them address a variety of challenges unique to their businesses. Our goal is to provide them with global market intelligence, providing them with a granular overview of the market in which they operate.
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –
Mahalunge Street, Baner, Pune-411045,
USA: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
E-mail: [email protected]
LinkedIn Facebook Twitter