Border Security Industry Analysis Report, Regional Outlook, Application, Demand, Growth, Forecast to 2023 - Lockheed Martin Corporation, Thales SA, BAE Systems, FLIR Systems, Elbit Systems, Cobham

Market Insights:

The global border security market is anticipated to grow at a CAGR of over 8% during the forecast period of 2017 to 2023 according to the latest report released by Market Research Future (MRFR). Border security has become a global priority due to rising homeland security and the increased importance of security measures. Rising tensions between borders and increasing acts of terrorism have increased the demand for effective border security.

Cross-border tensions have been increasing in recent years due to a combination of various socio-economic and political tensions, thus driving demand for appropriate security measures. Border security systems offer various advantages such as the recording of pertinent information and enabling investigation activities while controlling external threats in different locations. The military sector also makes great use of these systems, thus driving growth for the market. Additionally, illegal immigration, human trafficking, and individuals seeking asylum have grown exponentially in the recent years due to several socio-economic and political factors which are expected to result in the heavy use of border security systems for the reduction of the same. Governments are taking initiatives to set up the provision of national IDS, and e-passports which will drive the adoption of border security systems.

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Major Key Players

Market players included in MRFR's assessment of the competitive landscape are Thales SA, Elbit Systems Ltd., Lockheed Martin Corporation, Cobham Plc, General Atomics , FLIR Systems, Inc., DRS Technologies, Northrop Grumman Corporation, Raytheon Company, and BAE Systems Plc

Latest Industry News

• Brazil has increased their border security due to a large number of migrants looking to enter illegally.
• A city in Texas, Corpus Christi, has received USD 40,000 in the grant to reinforce border security.
According to MRFR, 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.

Market Segmentation

The global border security market is segmented on the basis of platform, system, and regions. By platform, the market is segmented into aerial, ground, and naval.
By system, the market is segmented into the laser, camera, radar, wideband wireless communication, unmanned vehicles, C2C, perimeter intrusion, biometric systems and others. Biometric systems are used extensively at the border and initiatives such as national IDs, e-visas and e-passport are expected to drive the use of biometric systems.
Globally, the market is segmented into the Americas, Europe, Asia Pacific and the Rest of the World.

Regional Analysis

North America accounts for the largest regional market in the global border security market. The region, particularly the U.S. has witnessed several devastating terrorist attacks and have a high population of illegal immigrants which drive the demand for border security equipment and systems. The region is home to several leading market players and displays a strong affinity toward the adoption of highly advanced equipment.
The Asia Pacific has been observed to be a strengthening market due to rising investments in surveillance systems. China, India, and Japan are among the leaders of this market. Rapid economic development and changing socio-economic factors have resulted in increased demand for border security. Territorial disputes between countries in the APAC has further increased investments in border security. High government support with regards to securing borders is also facilitating growth for the market.

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Target Audience
• Government/Military Agency
• Border Security Products OEMs
• Component Suppliers
• Potential Investors
• Key executive (CEO and COO) and strategy growth manager

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This release was published on openPR.