NEWARK, Del, March 06, 2023 (GLOBE NEWSWIRE) -- In 2022, the worldwide border security technologies market is expected to be worth $ 48.0 billion. The market is expected to grow significantly between 2022 and 2032, at a staggering 35.4% CAGR. This would boost the market's worth to an incredible US$ 1.0 trillion in 2032.
While governments all across the world are attempting to protect the peace, border clashes have occurred on occasion in recent years. Border security technologies are the systems that governments use to secure their borders. It is difficult to overestimate the importance of national security in this day and age.
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Border security technologies include radar systems, video systems, perimeter incursion detection systems, and manned and unmanned vehicles. Future Market Insights (FMI) sees significant government-backed investments in border security technologies as countries seek to avert repeat clashes.
According to FMI, China, Japan, the United Kingdom, the United States, and South Korea are likely to capture the global market between 2022 and 2032. On the basis of application, the ground-based segment is expected to lead the market and expand at a 35.2% CAGR. Based on systems, FMI expects the unmanned vehicles segment to dominate the market in the coming years.
Key Takeaways from the Border Security Technologies Market Study
- Between 2022 and 2032, the global market for border security technologies is likely to generate a US$ 945.0 billion absolute dollar opportunity.
- The United States market should accelerate at a CAGR of 33.9% in the coming years.
- The United Kingdom market is likely to surpass a valuation of US$ 42.3 billion in 2032.
- The market for border security technologies in China should register expansion at a CAGR of 36.6% between 2022 and 2032.
- Border security technologies demand should surge at a CAGR of 34.7% in Japan from 2022 to 2032.
- Sales of border security technologies should accelerate at a CAGR of 35.9% in the years ahead.
“Partnerships between prominent border security technologies companies and IT giants are probable from 2022 to 2032. This is owing to the increasing deployment of efficient software systems to promote automation across the global defense industry.” – Says an FMI Analyst
Who is Winning?
Key companies in the border security technologies market are reaping rewards in the form of lucrative contracts. Through these contracts, manufacturers can offer their high-end products and strengthen defenses of several economies that are focused on enhancing their existing military infrastructure.
Thales, Teledyne FLIR, SITA, Saab, Raytheon Technologies, Moog Inc., Lockheed Martin, Leonardo, Leidos, Indra Sistemas S.A, IDEMIA, General Atomics, G+D, Elbit Systems, Controp Precision Technologies, and Atos are prominent players in the global market for border security technologies.
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Future Market Insights, in its new offering, presents an unbiased analysis of the Border Security Technologies Market, presenting historical market data (2017 to 2021) and forecast statistics for the period from 2022 to 2032. The study divulges compelling insights on the border security technologies market based on systems (radar systems, laser systems, camera systems, unmanned vehicles, wide band wireless communication systems, command and control systems, biometric systems, drones, optical surveillance systems, electric fencing systems), and application (ground based, aerial based, naval based) across seven regions.
Global Border Security Technologies Market by Category
By Systems:
- Radar Systems
- Laser systems
- Camera systems
- Unmanned Vehicles
- Wide Band Wireless Communication Systems
- Command and Control Systems
- Biometric Systems
- Drones
- Optical Surveillance Systems
- Electric Fencing Systems
By Application:
- Ground Based
- Aerial Based
- Naval Based
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Table of Content
1. Executive Summary | Border Security Technologies Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
Click Here for Border Security Technologies Market 250 pages TOC Report
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