Dublin, April 06, 2022 (GLOBE NEWSWIRE) -- The "Border Security Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Border Security System Market to Reach $51.4 Billion by 2024
The global market for Border Security System is projected to reach US$51.4 Billion by 2024, registering a compounded annual growth rate (CAGR) of 6.3% over the analysis period.
United States represents the largest regional market for Border Security System, accounting for an estimated 46.1% share of the global total. The market is projected to reach US$24.2 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 10.4% over the analysis period.
With the world witnessing a consistent threat of terrorism, countries are focusing efforts on protecting national boundaries. The rising geopolitical tensions and increasing territorial disputes are also enhancing the need for ensuring security of the international borders. All of these factors are driving demand for a range of highly efficient border security systems that will enable border security agencies to address various threats emerging at the borders.
Driven by the growing need to prevent terrorist activities and cross-border disturbances, the border security systems market is witnessing high growth with military sector and border control agencies emerging as the most widespread users of border security systems.
Technological advancements in border security systems have been playing a critical part in enabling more effective and efficient monitoring and surveillance of international borders. The development of advanced security systems with greater product features and better features for border security agencies to benefit from is driving market growth.
North America represents the leading regional market for border security systems. The country is using advanced border security systems for border security monitoring and surveillance purposes in the country and in conflict areas such as Libya and Syria. The growing investments being made to bolster surveillance capabilities at borders in countries such as China and India are contributing towards the region`s high growth.
The increasing skirmishes at the border areas over territorial disputes between China and India, the influx of immigrants from Myanmar into neighboring nations, and the illegal immigration from Bangladesh into India are also leading to intensified internal security concerns in these nations, driving the governments to focus on better surveillance along the border areas.
The market for Air-based border security systems is forecast to witness high growth over the analysis period. Air-based border security systems, in particular, unmanned aerial systems for border surveillance and security purposes is experiencing high demand. Aerial security systems are used for performing reconnaissance, intelligence and security operations using airborne vehicles.
Air-based security systems are intended to help in border management by monitoring and reporting any security-related emergencies, detecting people and vehicles and tracking from the skies to detect less observable objects on the land, sea and in the air.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Border Security Systems: Protecting Borders against Illegal Movement of People, Weapons, Drugs & Contraband
- Ground-based Border Security Systems Segment Leads the Global Market
- Unmanned Vehicles Leads the Global Market, Biometrics Spearheads Future Growth
- Developed Markets Lead, Developing Regions to Witness High Growth in the Global Border Security Systems Market
2. FOCUS ON SELECT PLAYERS(Total 50 Featured)
- BAE Systems Plc
- Canon Inc.
- Cobham Plc
- Elbit Systems Ltd.
- FLIR Systems Inc.
- General Atomics
- Leonardo DRS
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon company
- Thales SA
3. MARKET TRENDS & DRIVERS
- Growing Geopolitical Conflicts and Territorial Disputes Enhance Investments into Border Security Systems
- Continued Threat of Terrorism Drives the Focus on Surveillance as Counterterrorism Response
- Consistent Rise in Defense Budget Allocations in Developed and Developing Economies Spurs Spending on Border Security Measures
- Increased Defense Spending Bodes Well for Border Security Market
- Radar Systems: An Important Technology for Securing International Borders
- Biometric Systems: Poised for High Adoption in Border Control Security
- Facial Recognition Technology Gains Prominence in Immigration Control
- Rising Prominence of Iris Biometrics Travel & Immigration Control
- Automated Border Control Systems (eGates) for Faster Processing at Border Checkpoints
- Proportion of Airports Worldwide Implementing e-Gates in Comparison to Other Security Self-Service Applications
- Thermal Cameras: An Important System for Securing Borders
- Unmanned Aerial Systems (UAS) Set to Transform Border Security
- Healthy Military Spending Worldwide Provides a Fertile Environment for the Growth of Drone Technologies in Border Security Applications
- Increasing Use of Drones in the Battlefield Pushes Up the Need for Counter-Drone Systems
- Autonomous Border Security Systems Increasingly Find Favor among Border Agencies
- Staff Shortage Gives Rise to Need for Automated and Autonomous Border Security Systems
- Introduction of Innovative Solutions Drives Market Growth
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/1hamt9
