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Border Security Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Environment and System

Border Security Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Environment and System

  • May 2021
  • 162 pages
  • ID: 6099448
  • Format: PDF
  • The Insight Partners

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The border security market was valued at US$ 144,271.21 million in 2020 and is projected to reach US$ 69,750.88 million by 2028; it is expected to grow at a CAGR of 5.85% during 2020-2028.

The advantage of using such vehicles during wars is to avoid humiliation in case the aircraft is shot down, and the pilot is captured.Further, the adoption of unmanned underwater vehicles, unmanned aerial vehicles, and unmanned ground vehicles across defense industries is rising at an impressive pace and it is anticipated to drive the future demand of efficient and advanced long range obstacle detection and collision avoidance systems.

The application of UUVs, UAVs and UGVs by defense forces and law enforcement agencies for applications such as search & rescue operations, crowd monitoring, site exploration, and location monitoring is further driving the demand for these vehicles across the world.For instance, in January 2018, the New York State Police department deployed several UAVs for disaster response, border security, and other law enforcement tasks.

Moreover, the Asian market witnesses’ growing investment in border security systems due to increased border tension between nations such as India and China.The two counties have enormous military strength and invest extensively in the manufacturing and procurement of advanced military weapons.

Therefore, the adoption of border security systems to counter aerial attacks, including unmanned vehicles, rockets, missiles, and others, is creating huge opportunities for the border security market players.

The border security market is segmented based on environment, system, and geography.Based on environment, the market is segmented into ground, aerial, and underwater.

In 2020, the ground segment accounted for the largest market share.Based on system, the market is bifurcated 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, others.

In 2020, the unmanned vehicles segment accounted for the largest share in the market.Geographically, the global border security market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

In 2020, the North America segment accounted for the significant share in the global market.

The outbreak of the COVID-19 has severely impacted the defense, aerospace, aviation, and other related industries.The emergence of COVID-19 virus across the globe which led to lockdown scenarios has led to unprecedented series of border closures across the globe.

This disruption is expected to leave an impact on the defense industry through till mid-2021.With the rising concern of health of the public, governments across nations are focused on investments on healthcare and related industries and there has been a shift of budget allocation from defense to healthcare.

However, the pandemic has proved that careful coordination is required between all border agencies to ensure effective security measures. Moreover, demand for defense related products such as border security systems will remain unaffected as the budgets for defense related projects had been allocated prior to the pandemic and the projects are extremely critical to national defense.

The overall border security market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the border security market with respect to all the segments.It also provides the overview and forecast for the global border security market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the border security market.

A few major players operating in the global border security market are 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; among others.

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