Border Security Market Worth $22.8 Bn in 2020

The key player new report the Border Security Market 2020-2030: Forecasts by Type (Perimeter Surveillance and Detection Systems, Biometrics and ICT Systems, Manned Platforms, Unmanned Systems, and Physical Infrastructure, Support and Other Services) and by Platform (Ground, Aerial and Naval) indicates that the global Border Security market will see $22,836.5m in spending in 2020.

The lead analyst of the report said, "North America is anticipated to hold the majority of the market share and is further projected to reach US$ 8,543.6 million in 2020. There is a huge market for border security in North America. The Homeland Security Advanced Research Projects Agency (HSARPA) was established by the Homeland Security Act of 2002, in order to promote research and development activities in the border security market. It is involved in the production of advanced products for this market, which support the U.S. Department of Homeland Security (DHS) components such as the U.S. Secret Service, U.S. Customs and Borders Protection, the U. S. Coast Guard, and the Transportation Security Administration. In February 2015, the U.S. summit with ASEAN countries was organized in California, which was a collaborative effort between the U.S. and other involved countries to enhance military security capabilities, restructure economic ties and trade pacts for respective nations."

The 150+ page report contains 90 tables, charts and graphs that add visual analysis in order to explain developing trends within the Border Security market. The report provides various types of Border Security forecasts for the period 2020-2030. The Border Security market is segmented on the basis of different types such as Perimeter Surveillance and Detection Systems, Biometrics and ICT Systems, Manned Platforms, Unmanned Systems, and Physical Infrastructure, Support and Other Services

The perimeter surveillance and detection systems segment contributed the largest revenue of $ 6504.8 million in the world market in 2020 and is expected to grow at a CAGR of 8.0% during the forecast period. Perimeter Intrusion Detection Systems (PIDS) are systems used in an external environment to detect the presence of an intruder attempting to breach a perimeter. It helps to discover all the moving targets inside and outside the protected zone perimeter. In other words, it helps to locate all the people and vehicles around the perimeter, identify the drone operator among them and evaluate whether other people situated close to the protected perimeter may jeopardise the safety of persons and property.

The Border Security report offers market forecasts and analysis for 10 leading national markets and the rest of the world market. In addition, the report contains a dedicated leading companies’ chapter covering more than 10 companies leading the field in Border Security and interviews with industry executives and experts from prominent companies.

The Border Security market is classified based on geography into North America, Europe, Asia-Pacific, and LAMEA. North America generated the highest revenue in 2020 followed by Europe.

Key findings of the study:

  • Biometric and ICT Systems market is expected to exhibit a remarkable growth during the forecast period, attributed to document individuals crossing borders and identifying them at a later stage. Biometric information can also be used to track an individual if it disappears after crossing borders
  • Ground platform is likely to maintain its leading position due to the demand for border protection by ground based border security is the tracking of illegal trade, smuggling and penetration of infiltrators.
  • Industry participants focus on introducing new products with innovations and partnerships to improve their market share.

Border Security market comprises dominant players such as Airbus, Elbit Systems, Flir Systems, L3 Technologies, Northrop Grumman Corp., Raytheon, Saab AB, Thales, QinetiQ Group, and Leonardo SpA, among others. These market players primarily focus on the development of new technology, launch of novel products with innovative variations, and partnerships & collaborations to strengthen their market position.

The Border Security Market 2020-2030 report will be of value to anyone who wants to better understand the Border Security market and its various segments. It will be useful for businesses who wish to better comprehend the part of the market they are already involved in, or those wishing to enter or expand into a different regional or technical part of the defence industry.

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Source: ASDReports - Market Research
Date: Jun 23, 2020