Aerospace Industry Today
Border Security Market Technology 2018 Industry Share, Key Players and Growth Rate Report 2023
The global market for border security is increasing at a rapid pace. According to a recent study report published by the Market Research Future, The global market of border security will grow at a rapid pace over the forecast period. The market is forecasted to witness a slow but steady growth by 2023, which will be a surplus growth at a moderate CAGR during the projected period (2017 -2023).
A sudden rise in terrorist activities across the world has forced nations to rethink on protection of the national boundaries. Security systems are equipped with different types of cameras, such as pan, tilt, and zoom cameras, which are connected to internet, to gives access to the information from required locations by wired or wireless connectivity. Aspects, such as rising tension across borders and growing terrorism, are expected to gear up the market growth over the forecast period
Technological upgradation in the system has facilitated surveillance at remote and critical locations from the precision point of view. This has further increased the implementation rate of advanced security systems with larger product features and improved performance with respect to border security. The security market is predicted to grow in the domain of government & law enforcement area due to the increased crime rates across the globe.
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Major Key Players
Lockheed Martin Corporation (U.S.),
Raytheon company (U.S.),
Northrop Grumman Corporation (U.S.),
Thales SA (France),
BAE Systems Plc (U.K),
FLIR systems, Inc. (U.S.),
and Elbit systems Ltd. (Israel), Cobham plc (U.K), DRS Technologies (U.S.), General Atomics (U.S.), and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global border security market.
Global Border Security Market is expected to grow at a CAGR of around 8% during 2016-2023. The key factors driving the growth are demand for mobile warfare systems, driverless cargo inspection systems, demand for persistent ISR, and demand for aerostat and blimps.
Industry/ Innovation/ Related News:
April 2018: Indian Government had started new project to protect India’s borders with Bangladesh and Pakistan. The smart fence system was a project that was implemented by the Border Security Forces (BSF) to close the susceptible gaps along India’s border with Pakistan and Bangladesh.
April 2018: The Defence Department of U.S. had improved its support to the Department of Homeland Security to protect the U.S. border with Mexico.
Border Security Market – Segmentation
The global border security market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Platform: Ground, Aerial, Naval
Segmentation by System : Laser, Radar, Camera, Wide Band Wireless Communication, Perimeter Intrusion, Unmanned Vehicles, C2C, Biometric Systems and Others
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific, Middle East & Africa and South America.
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- Government/Military Agency
- Border Security Products OEMs
- Component Suppliers
- Potential Investors
- Key executive (CEO and COO) and strategy growth manager
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