The global border security market is defined as the revenue from products that are employed for the purpose of securing borders.
Global Border Security Market Research Report 2019 is created to provide the market landscape and unlimited guideline about contemporary market size, share, driving factors, trends, progressive growth, and dominant players of the Border Security market. The report serves overall information on the market to top manufacturers, distributors, traders, dealers. It will help them understand the product scope, market overview, market driving force, technological advancement, market risk, opportunities, and research findings.
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Some of the major players of the market are:
Northrop Grumman Corporation, Airbus SE, The Boeing Company, Cobham PLC, Raytheon Company, Elbit Systems Ltd, General Atomics, General Dynamics Corporation, Saab AB, Moog Inc., Blighter Surveillance Systems Ltd, Thales SA, amongst others.
The border security market is anticipated to reach USD 27.45 billion by 2024 with a CAGR of 7.04%, during the forecast period.
The rising geopolitical instabilities and territorial conflicts are driving the demand for advanced border security solutions, worldwide.
The increasing procurement of surveillance aircraft, patrol aircraft, ground attack helicopter, transport helicopters, amphibious aircraft, marine vessels, and submarines for border security are also expected to drive the growth of the border security market during the forecast period.
Modernization of the existing border security infrastructure is also providing new market opportunities for the border security market.
Key Market Trends
Despite clearly defined boundaries, maritime disputes are common in places where countries compete over inhabited and uninhabited islands. Many military superpowers have borders surrounded mostly by seas, such as the United States, Britain, France, Germany, Russia, China, and Japan. There are many disputes in the South China Sea among China, Taiwan, Vietnam, the Philippines, and Malaysia, which have overlapping claims. In the wake of all these issues, all these countries are focusing more on protecting their sea-based borders. With increasing threats over international waters, countries are focusing on developing their surveillance over the sea, which is expected to drive the sea-based platforms to register the highest growth in the market during the forecast period.
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The Asia-Pacific currently has the highest share of the border security market. This is primarily due to ongoing border issues between India and Pakistan, India and China, and China-Japan, among others. China is one of the largest countries in Asia that has territorial issues with Taiwan, India, North Korea, Malaysia, South Korea, Indonesia, Japan, the Philippines, and Vietnam. Countries, like Vietnam, the Philippines, and Australia among others, are upgrading their border forces for detecting, intercepting, and deterring people smuggling ventures. Increasing collaborations between countries, like China and Pakistan, India and the United States, in order to protect their territories, are major contributing factors for the growth of the border security market in this region.
The market is highly fragmented and is dominated by global defense systems and technology providers, like Raytheon, General Dynamics, and Thales SA. Majority of the geographic regions have local players who are equally strong and provide smaller sub-systems of a larger network/project in partnership with the global leaders. Local players in North America and the Middle East & Asia are particularly threatening the global leaders, as they aim to provide an all-round solution at a fraction of the cost quoted by these global leaders, without compromising on quality or reliability.
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Table of Contents:
2 Border Security Market Research Methodology
3 Executive Summary
4 Border Security Market Dynamics
5 Border Security Market Segmentation
6 Competitive Landscape
7 Border Security Market Opportunities And Future Trends
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