USD 418.25 billion
Report ID: SQSG20A2028 | Region: Global | Published Date: November, 2022 | Pages: 157
Global Border Security System Market was valued at USD 418.25 billion in 2021, and it is expected to reach a value of USD 700.7 billion by 2028, at a CAGR of 7.65% over the forecast period (2022-2028).
For the country to be protected from invaders and illegal activity, border security is crucial. Cameras, radars, lasers, and other equipment are necessary for border security because they improve surveillance and provide precise target placements. It aids in defending the populace and keeping them safe from both military troops and illicit operations. One key factor is the unexpected increase in terrorist attacks and political disputes. Unmanned systems are increasingly being used by the military and defence departments of several nations to conduct better investigations.
The market for automated border control may also be impacted by other variables. One of them is the drop in military and defence spending, particularly in North America and other nations. In addition, the government’s tight laws and policies may have an impact on the development of the border security business. However, big players are working to protect the law so that effective products can be produced.
Global Market Size
USD 418.25 billion
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Global Border Security System Market is segmented based on the environment, system, and region. Based on the environment, the Global Border Security System Market is segmented into ground, aerial, and naval. Based on the system, the market has been segmented into laser, radar, camera, wide band wireless communication, perimeter intrusion, unmanned vehicles, C2C, and biometric systems. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Environment
Ground segment is dominated the market in terms of environment in 2021. Laser, camera, radar, and other devices make up the ground security system. Massive expenditures made by nations like China and India are fostering market expansion for the development of improved security solutions. Each country are focusing to strong their group system that factor influence the demand for ground security system.
Aerial security system segment is fastest growing segment during the forecast period due to need of fire projectiles to intercept and destroy airborne threats, including missiles, helicopters and drones. Also increase need of destroy Arial attack at the moment motion are increased demand for these segment.
Analysis by System
The biometric system is dominated the market in 2021 and expected to expand significantly due to growing demand and utilisation. In recent years, the demand for biometric systems has skyrocketed, particularly in developed nations like the US and the UK. Additionally, the countries are increasingly worried about an increase in terrorist activity, and these biometric technologies aid in tracking such risky activity.
Camera system is fastest growing segment during forecast period. Need of 24/7 operation, border security and surveillance cannot afford downtime or periods of decreased readiness. To protect against terrorism, smuggling, and illegal immigration, it is essential to have reliable long-range threat detection and the ability to positively identify possible threats at all hours of the day and night are increased the used of camera security system during forecast period.
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North America dominated the Global Border Security System Market in 2021. The market’s leading key companies offering technologically cutting edge border security solutions to safeguard the international borders are credited with this rise. The market is also expected to grow as a result of the U.S. and Canadian governments investing more money in exploiting radar technology to track and detect different threats.
Asia-Pacific region is fastest growing region during the forecast period due to the increasing demand for the border security system from emerging economy such as China and India. It is evaluated that this region will record the highest CAGR in the upcoming years. Incremental market expansion will also be facilitated by the escalating international conflicts. The increasing terrorist attack in the country of these region is one of the key factor for growth of market.
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Rapid technical advancements for increased security will boost the border security sector’s expansion. The growing need for border security solutions to secure the nation is one of the key factors driving the border security industry. It will aid in reducing any illicit activity that might take place at international borders. A few main factors are people trafficking, the smuggling of firearms, contraband, and drugs, among others. In addition, the number of terrorist attacks is rising, which is boosting the demand for border security.
The border security sector is constrained in a number of ways. One of the main reasons is budget cuts in defence. The production of body security systems is subject to stronger laws and norms in several nations, including the US and others. Additionally, these products are quite expensive, which could limit the expansion of the border security industry in the next years.
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Global Border Security System Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Border Security System Market analysis, North America is expected to capture higher market share. The growth of the region is attributed to governments investing more money in exploiting radar technology. US and Canada has emerged as a significant contributor to market growth in North America. In terms of environment, the ground segment dominates the Border Security System Market. This segment's leading position can be attributed due to growing demand and utilisation. In terms of system, the biometric system led the market and is predicted to grow at the fastest rate.
|Market size value in 2021||USD 418.25 billion|
|Market size value in 2028||USD 700.7 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Border Security System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Border Security System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG20A2028