Border Surveillance Market
The Global Border Surveillance Market is growing with the rapid pace; mainly due to the increasing prevalence of Terrorism activities across the globe. According to a recent study report published by the Market Research Future, The global market of Border Surveillance is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR of 5% during the anticipated period (2016 – 2023).
Growing demand for surveillance drones, integration of IP technology in surveillance cameras, and introduction of thermal imaging and panoramic surveillance cameras are some of the primary factors driving the global border surveillance market. Furthermore, the increased adoption of the stealth surveillance drones in the vulnerable coastal/territorial borders and the growing usage of surveillance cameras for the protection of critical infrastructure is also expected to fuel the demand in the border surveillance market.
Border surveillance is one of the key areas, where every country focuses upon, as these borders safeguard a nation’s security, sovereignty, and economic prosperity. Rapidly rising cross border conflicts and territory conflicts in specific regions is expected to propel the demand in the global border surveillance market. Development of new methods of surveillance through high end cameras and drones has resulted in opening of new revenue streams in this market. The recent Syrian refugee crisis (Aug.2017) beckons the need to increase the investments in the border surveillance market. In response to this demand, the US Department of Defence (DOD) and the UK Ministry of Defence (MOD) have amplified the usage of unmanned systems, for the soul purpose of monitoring the national borders. Consequently, the increasing application of unmanned solutions has significantly contributed towards the growth of the global border surveillance market.
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The key players of the global border surveillance market are: DJI (China), General Atomics (U.S.), Leonardo S.p.A (Italy), Lockheed Martin(U.S.), Northrop Grumman(U.S.), Thales Group(France), General Dynamics (U.S.), Honeywell International (U.S.), FLIR Systems (U.S.), and Moog (India).
Characterized by the presence of several major well-established players, the global Market of Border Surveillance appears to be highly competitive. To maintain their market position and to drive the market growth, these players are focusing upon developing their product portfolio with the help of advance technologies. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players. Major players are investing on internal R&D and, most of all, in acquiring other firms. Prominent manufacturers of Border Surveillance Equipment are targeting to invest more in technology and research and development activities to innovate their already existing products. The rising government funding is also expected to motivate key companies to manufacture new Border Surveillance Equipment that match the changing trends and needs of the patrons.
These players possess state of art R&D labs and strong sales and distribution network which have helped them to gain leadership position in the market. An ever-increasing emphasis has been observed among Border Surveillance Equipment industry marketers on inbound lead generation over branding-oriented efforts.
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Asia-Pacific is expected to be one of the leading markets, by 2023, mainly due to increasing number of cross border conflicts in this region. In the recent years, nations like Vietnam, Philippines, Malaysia, and Taiwan have increased their military spending in order to secure their borders against China, due to the conflict at the South China Sea. Other countries such as India and South Korea are expected to implement incremental features on their borders to counter the threats from their disruptive neighbours. The Middle East countries, in particular, are expected to register a high growth rate, with Saudi Arabia heavily investing in the construction of a 60 mile-wall on the Iraq border. Moreover, the Middle Eastern region, specifically due to the emergence of the Islamic State (IS), is expected to step up their efforts in order to secure their borders.
Table of Content
1.2 Scope of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure:
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.5 Macroeconomic Indicators
4 Market Factor Analysis
4.1 Porter’s five forces model
4.1.1 Bargaining Power of suppliers
4.1.2 Bargaining Power of Customer
4.1.3 Intensity of Competitor’s
4.1.4 Threat of New Entrants
5 Border Surveillance Market, By Components
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