Border Security System Market Worth $52.95 Bn by 2022
According to the new market research report, now available on ASDReports, "Border Security System Market by Environment (Ground, Aerial, Naval), System (Laser, Radar, Camera, Wide Band Wireless Communication, Perimeter Intrusion, Unmanned Vehicles, C2C, Biometric Systems), and Geography - Global Forecast to 2022", the border security system market is expected to grow to USD 52.95 Billion by 2022, at CAGR of 7.16% between 2016 and 2022, which includes an in-depth analysis of the market by environment, systems, and geography. The growth of Border Security system market is attributed to the need for advanced border security solutions technology, rising territorial conflicts and geopolitical instabilities, and increasing adoption of unmanned solutions by different military and defense forces.
Ground-based systems to hold the largest market share during the forecast period
The major challenges faced by ground border security are conventional international disputes, cross-border infiltration, illegal migration, smuggling, and other forms of criminal activity. Ground-based border security systems comprise systems such as laser, radar, cameras, perimeter intrusion, unmanned ground vehicles (UGV), communication systems among others. These systems are being deployed by many military and defense organizations for better intelligence, security, surveillance, and safety.
Border Security System Market - Global Forecast to 2022
Biometric systems expected to grow at the highest CAGR among all other border security systems during the forecast period
There would be a significant increase in the biometric systems of the border security system market, and it is estimated that it would grow at CAGR higher than any other industry between 2016 and 2022 owing to the adoption of Biometric systems on a-large scale to tackle illegal immigration, human trafficking among others. Schemes such as development of national IDs, e-passports, and e-visas are expected to be the main drivers for it.
The APAC region is expected to grow at the highest CAGR between 2016 and 2022
The APAC Border Security system market is segmented into countries such as China, Japan, India, South Korea, and Rest of APAC. The major driver for the APAC market is the increased investment for strengthening the surveillance and weapon guidance capabilities by China, India, and Japan, and increased spending of governments to tackle terrorist attacks, infiltration, illegal immigration, and criminal activities. North America dominates the market in terms of revenue generation. The drivers being the use of advanced weapons and technology for overseas contingency operations such as Afghanistan and Iraq. Currently, the ongoing operations in Syria and Libya against terrorist outfits are prompting the U.S. to use advanced border security system technology.
The major players in the Border Security system market are Lockheed Martin Corporation (U.S.), Raytheon company (U.S.), Northrop Grumman Corporation (U.S.), Thales SA (France), BAE Systems Plc (U.K.), FLIR systems, Inc. (U.S.), and Elbit systems Ltd. (Israel) among others.
In this research report, the global border security system market has been segmented on the basis of environment, systems and geography. This report describes the drivers, restraints, opportunities, and challenges for the border security system market. The Porter’s five forces analysis has been included in the report with a description of each of its forces and their respective impact on the global border security system market. This report gives a detailed view of the market across geographies, namely, the Americas, Europe, Asia-Pacific, and the RoW.
Source : ASDReports - Market Research - view original press release
May 24 - 25, 2017 - London, United Kingdom