Global Border Security Systems Market to Reach $51.4 Billion by 2024
SAN FRANCISCO, Aug. 13, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Border Security Systems - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: May 2021
Executive Pool: 17423
Companies: 50 - Players covered include 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 and Others.
Coverage: All major geographies and key segments
Segments: Environment (Ground, Aerial, Underwater); System (Unmanned Vehicles, Camera, Radar, Laser, Biometric Systems, Other Systems)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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ABSTRACT-
Global Border Security System Market to Reach $51.4 Billion by 2024
Border security system is an automatic security system that is utilized for protecting country borders against illegal movement of people, weapons, drugs and other contraband products. Border security is increasingly becoming critical for homeland security departments to prevent illegal migration of people and to maintain national sovereignty. 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. Amid the COVID-19 crisis, 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.
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. Air surveillance radar (ASR) systems, unmanned aerial vehicles (UAVs) and military aircrafts and helicopters are used for maintaining aerial based security of border areas. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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www.StrategyR.com
Email: [email protected]
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