New York., Aug. 26, 2021 (GLOBE NEWSWIRE) -- Border security Market: Key Insights
According to our new research study on “Border security Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Environment, System, and Geography,” the Border Security Market is projected to reach US$ 69,750.9 million by 2028 from US$ 44,271.2 million in 2020; it is expected to grow at a CAGR of 6.21% during 2021–2028.
Border security Market: Competitive Landscape and Key Developments
Lockheed Martin Corporation; Thales SA; Flir Systems, INC.; Bae Systems Plc; Elbit Systems; Northrop Grumman Corporation; Saab AB; Leonardo; Israel Aerospace Industries Ltd.; and Safran are among the key players in the global border security market. The leading companies are focusing on product development and innovation as prime growth strategies.
In 2021, Safran Corporate Ventures invested in SkyFive as a part of its Series A investment round. The investment round was led by Safran Corporate Ventures together with STAR Capital, a European private equity fund manager with a track record of developing emerging infrastructure businesses.
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Increasing threats of aerial attack are highlighting the need of integration of advanced weaponry with laser, RADAR, and advanced camera systems. Countries such as China, the US, the UK, and Russia are strengthening their weapon systems against UAVs, rockets, artillery, and mortar projectiles. Laser-based weapon systems are becoming preferred solutions owing to their ability to provide enhanced protection with high-precision techniques. The US military almost doubled its spending for directed energy weapons such as high-powered microwaves and lasers during fiscal years 2017–2019.
In 2019, the US Army awarded a contract worth US$ 130 million to Dynetics Inc. and its partners—Lockheed Martin and Rolls-Royce—to develop an advanced weapon system. Under this contract agreement, Dynetics Inc. developed a 100-kW-class laser weapon system called High Energy Laser Tactical Vehicle Demonstrator (HEL TVD). Similarly, in July 2019, the Ministry of Defence (MOD) of the UK invested significant amounts in the revolutionization of the defense sector; the efforts mainly focused on the strengthening of its military weapons such as laser weapons. The ministry invested ~US$ 162.00 million for the creation of a new joint program office to manage the program and personnel. The country expects to announce new laser and radiofrequency technology-based weapon systems in the armed forces by 2023.
In 2020, North America led the border security market with a 36.97% revenue share. Countries in this region are characterized by high adoption of advanced border security systems with high precision, high power, and high range. Acceptance of advanced border security systems by the US government encourages manufacturers to provide more innovative security solutions the country. With the strong presence of border security system manufacturers and significantly annual high military spending, the border security market in North America is expected to grow at a high CAGR during the forecast period.
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The demand for laser weapon systems in high in countries such as the US, China, Russia, and India, which are world’s prime military powers. Surge in the development of advanced weapons system and increasing adoption of drones or unmanned vehicle for military operations are creating enormous demand for advanced defensive weapons. As several drones and advanced weapons lead to severe damage, which is driving the demand for high-precise laser weapon systems. The self-protect high-energy laser demonstrator (SHiELD) initiative of the US opens new application areas for laser weapon systems. Lockheed Martin developed a laser weapon system for fighter jets, thus bringing a new level of advancement for war fighters. The use of laser weapons in fighter jets is intertwines the ability to shoot down missiles in flight.
The airborne laser weapon systems assist in defending friendly aircraft, destroying enemy aircraft, and improving ground targets during combats. As per the People's Liberation Army (PLA) news, the military sector of China has made an announcement regarding the procurement and development of airborne laser pods. The country is trying to integrate airborne lasers in their defense fleet for both attack and defense purposes.
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Border security market: System Overview
The global border security market, based on system, is segmented into laser systems, radar systems, camera systems, perimeter intrusion detection systems, unmanned vehicles, wide-band wireless communication systems, command and control (C2) systems, biometric systems, and others. The unmanned segment held the largest market share in 2020. The military robots are a product classification of unmanned ground vehicles (UGVs), unmanned aerial vehicles (UAVs), and unmanned underwater vehicles (UUVs). These vehicles are used for surveillance, reconnaissance, and visual imaging applications, and they also exhibit common features required by the US military forces. Majority of the military forces across the world working on ways to decrease the number of human soldiers and deploy large units of robots in military operations in the coming years, which would enhance the human soldier capabilities, thereby increasing the smaller lethal agile forces in the army which are readily deployable. Also, the rising conflict among countries and states is encouraging various governments are robustly focusing on modernizing their militaries and keeping them updated as per the new automated modern warfare methods and systems.
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