Pune, India, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The global border security market size was valued at USD 45.76 billion in 2022 and is expected to expand from USD 48.81 billion in 2023 to USD 68.22 billion by 2030, exhibiting a CAGR of 4.9% over the study period. The expansion can be credited to the rising demand for advanced security systems. This can be attributed to growing geopolitical instabilities and an increasing number of frequent conflicts.
Fortune Business Insights™ provides this information in its research report, titled “Border Security Market, 2023-2030”.
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List of Key Players Profiled in the Border Security Market Report:
- Northrop Grumman Corporation (U.S.)
- Airbus SE (U.S.)
- Raytheon Technologies Corporation (U.S.)
- Elbit Systems Ltd. (Israel)
- Thales Group (France)
- BAE Systems plc (U.K.)
- Israel Aerospace Industries Ltd. (IAI) (Israel)
- Leonardo SpA. (Italy)
- Rafael Advanced Defense Systems Ltd. (France)
- Teledyne FLIR LLC (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 4.9% |
| 2030 Value Projection | USD 68.22 Billion |
| Market Size in 2023 | USD 48.81 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Border Security Market Growth Drivers | Rising Adoption of Unmanned Systems for Threat Protection to Propel Market Growth |
| Growing Adoption of Modern Border Protection Technologies to Accelerate Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/border-security-system-market-105208
Segments:
Rising Uptake of Advanced Radar Systems to Accelerate the Segment Growth
On the basis of system, the market is divided into cargo scanner, elemental isotope detector, ground sensor, radar system, night-vision goggles, unmanned systems, satellite surveillance, communication system, biometric system, and others. The radar system segment held the largest market share in 2022. The adoption of advanced radar systems for enhancing border protection has increased. This factor is driving the segment growth.
Surge in the Uptake of Advanced Radar Systems across Perimeters to Propel the Land Port Segment Growth
In terms of platform, the market is categorized into ports, aviation, and land port. The land port segment is anticipated to hold the largest market share during the forecast period. The uptake of advanced radar solutions for detection, monitoring, and identification of drone activity and others across perimeters and borders has increased. This factor is bolstering the segment growth.
Regionally, the market has been studied across North America, the Middle East & Africa, the Asia Pacific, Europe, and Latin America.
Russia-Ukraine War Impact:
Surging Demand for Border Protection Solutions to Positively Impact the Market Growth
The Russia-Ukraine war has a positive impact on the border security market. The growing number of frequent conflicts and security concerns in Europe and the rest of the world impacted border security. Due to these factors, there has been a surge in demand for advanced technologies, border surveillance solutions, and equipment for improving border protection.
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Report Coverage:
The report offers comprehensive coverage of the major driving and restraining factors affecting the market growth. It further highlights the key segments, the latest trends, and the Russia-Ukraine war impact on the market growth. Other aspects of the report include the major strategies deployed by leading industry players to sustain their industry leaderships.
Drivers and Restraints:
Surging Adoption of Modern Systems for Border Protection to Escalate the Market Growth
One of the major factors driving the border security market growth is the surging uptake of modern solutions for border protection. Potential protection from various types of threats from different platforms is being offered by technologies such as eGates, camera systems, perimeter intrusion detection systems, land vehicles, radar systems, security scanners, maritime and riverine vessels, airplanes and rotary aircraft, and unmanned vehicles (UAS, UUV, and UGV).
Despite such growth opportunities, the shortage of proactive measures may impede the market growth.
Regional Insights
Asia Pacific Dominated the Market due to Rising Number of Illegal Migrations
Asia Pacific is anticipated to register the highest border security market share over the forecast period. The number of illegal migrations, bilateral conflicts, territorial activities, and drug trafficking activities has increased in the region. This factor is driving the regional growth.
The Europe market is slated to emerge as the fastest-growing during the forecast period. The growing spending on the modernization of armed forces and rising acquisition of advanced border protection systems are impelling the regional growth.
Competitive Landscape:
Leading Companies Focus on Securing Orders to Reinforce their Market Positions
Prominent border security players are deploying various strategies such as mergers and acquisitions, partnerships, product innovations, and others. Several companies are also focusing on securing orders to gain a competitive edge.
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Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Key Industry Developments - Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest Technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights - Impact of Russia-Ukraine War on Global Border Security Market
- Global Border Security Market Analysis, Insights and Forecast, 2019-2030
- 5.1 Key Findings / Definitions
- 5.2. Market Analysis, Insights and Forecast - By System
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- 5.2.1. Cargo Scanner
- 5.2.2. Elemental Isotope Detector
- 5.2.3. Ground Sensor
- 5.2.4. Radar System
- 5.2.5. Night-Vision Goggles
- 5.2.6. Unmanned Systems
- 5.2.7. Satellite Surveillance
- 5.2.8. Communication System
- 5.2.9. Biometric System
- 5.2.10. Others
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- 5.3. Market Analysis, Insights and Forecast - By Platform
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- 5.3.1. Land Port
- 5.3.2. Ports
- 5.3.3. Aviation
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- 5.4. Market Analysis, Insights and Forecast - By Region
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- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Middle East & Africa
- 5.4.5. Latin America
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- North America Border Security Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast - By System
- Cargo Scanner
- Elemental Isotope Detector
- Ground Sensor
- Radar System
- Night-Vision Goggles
- Unmanned Systems
- Satellite Surveillance
- Communication System
- Biometric System
- Others
- Market Analysis, Insights and Forecast - By Platform
- Land Port
- Ports
- Aviation
- Market Analysis, Insights and Forecast - By System
TOC Continued...!
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Key Industry Development:
March 2022- A single award task order was provided to American Systems under the General Services Administration’s Alliant 2 contract for supporting the Department of Homeland Security Customs & Border Protection (CBP). American System provided Independent Verification & Validation (IV&V) services to verify and validate that all systems acquired for border security at and between the United States Ports of Entry comply with CBP requirements.
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