Global Border surveillance market Overview
The Border Surveillance market industry is projected to grow from USD 30.484175 Billion in 2023 to USD 52.9677 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.15% during the forecast period (2023 - 2032).
The global Border Surveillance Market is growing at a substantial rate. According to the recent study conducted by Market Research Future, the global market is estimated to grow rapidly during the forecast period.
The main driving factor for the global market is the growing need for nations to secure their borders from trespassers. Borders are a major area of concern for all nations for their safety as illegal arms and illegal immigrants may enter the country and cause grievous harm to its citizens. Unmanned planes armed with night vision comes a long way in delivering the required surveillance to security forces even at night. Another major factor driving the growth of the global Border Surveillance Market is substantial growth in the number of illegal immigrants across the globe.
Geopolitical conflicts are a major factor that influences the global Border Surveillance Market development. Insecurities with neighbouring countries leads the government into procuring innovative technology to stay ahead of their adversary. The governments are also investing substantial amount of funds in the research and development of technology. Moreover, many nations have continuous conflicts with their neighbouring countries on account of encroachment.
In recent years, there has been a rise in the number of global conflicts such as the Russia and Ukraine conflict over Crimea, battle for supremacy in the South China Sea territory between China and South Korea, maritime disputes between Venezuela and Guyana, and the sea border dispute between Colombia and Nicaragua. With the raging conflicts in such countries, along with the growing extremist activities in Egypt, France, and Tunisia, 2015 was marked by widespread humanitarian crises and instability.
This creates the need to up-date border surveillance systems and the treatment of operational information concerning threats. The security of land and maritime borders has become a key issue that must be addressed for proper integrated and coordinated management, by putting together the efforts of all the law enforcement agencies, in term of state security, economy, and public health. The use of drones in border surveillance is particularly useful in the regions that are difficult to reach or access, which significantly prevents trafficking of illegal drugs and illegal migration.
Border surveillance systems need to be robust as they need to be operational all day and all night. Moreover, the system needs to operate in all conditions and need to have the ability to detect threats from a long range. The industry is dominated by very stringent government policies, which is a major restraint for the market. The products developed by the companies need to be very robust and durable which can last through extreme conditions including war.
Developing countries across the globe are investing heavily in border surveillance systems which is substantially forecasted to drive the growth of the market during the forecast period. Countries like India who have major border disputes with China, Bangladesh, Burma and Pakistan for illegal immigrants, terrorists and smuggling. In addition, India is expected to be a major market for the border surveillance systems during the forthcoming years.
Key Players
The key players in the global Border Surveillance Market areDJI (China), FLIR Systems (US), General Atomics (US), General Dynamics Corporation (US), Honeywell International Inc. (US), Leonardo Spa (Italy), Lockheed Martin Corporation (US), MoogInc. (US), Northrop Grumman Corporation (US), and Thales Group (France).
Global Border surveillance market Segmentation
The globalborder surveillance Border Surveillance Market industry share is segmented in to three key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Equipment: Comprises Drone and Surveillance Camera
Segmentation by Application: Comprises Coastal Border, Territorial Border and Infrastructure
Segmentation by Regions:Comprises Geographical regions - North America, Europe, Asia-Pacific, Middle East Africa and Rest of the World.
Global Border surveillance market: Regional Analysis
North America held the largest market share of the global Border Surveillance Market in 2017 and is expected to remain dominant during the forecast period as well. The US has been one of the major investors in the research and development of border surveillance systems and equipment.
Moreover, the Asia-Pacific region is estimated to witness the highest growth rate during the forecast period on account of the geo-political tensions in the region. Also, the developing countries in the region like China and India are the major contributors to the growth of the Border Surveillance Market in the region.
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