The global market for border security technology is anticipated to be worth $48.0 billion by 2022. The market is predicted to develop rapidly between 2022 and 2032, at a stunning 35.4% CAGR. This would increase the market’s value to an astonishing USD 1.0 trillion by 2032.
While governments throughout the world work to keep the peace, border conflicts have happened on occasion in recent years. Border security technologies refer to the mechanisms used by countries to safeguard their borders. It is difficult to overstate the importance of national security in this day and age.
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Border security technologies include radar systems, video systems, perimeter incursion detection systems, and manned and unmanned vehicles. Future Market Insights (FMI) sees significant government-backed investments in border security technologies as countries seek to avert repeat clashes.
According to FMI, China, Japan, the United Kingdom, the United States, and South Korea are likely to capture the global market between 2022 and 2032. On the basis of application, the ground-based segment is expected to lead the market and expand at a 35.2% CAGR. Based on systems, FMI expects the unmanned vehicles segment to dominate the market in the coming years.
Key Takeaways from the Border Security Technologies Market Study
- Between 2022 and 2032, the global market for border security technologies is likely to generate a US$ 945.0 billion absolute dollar opportunity.
- The United States market should accelerate at a CAGR of 33.9% in the coming years.
- The United Kingdom market is likely to surpass a valuation of US$ 42.3 billion in 2032.
- The market for border security technologies in China should register expansion at a CAGR of 36.6% between 2022 and 2032.
- Border security technologies demand should surge at a CAGR of 34.7% in Japan from 2022 to 2032.
- Sales of border security technologies should accelerate at a CAGR of 35.9% in the years ahead.
“Partnerships between prominent border security technologies companies and IT giants are probable from 2022 to 2032. This is owing to the increasing deployment of efficient software systems to promote automation across the global defense industry.” – Says an FMI Analyst
Who is Winning?
Key companies in the border security technologies market are reaping rewards in the form of lucrative contracts. Through these contracts, manufacturers can offer their high-end products and strengthen defenses of several economies that are focused on enhancing their existing military infrastructure.
Thales, Teledyne FLIR, SITA, Saab, Raytheon Technologies, Moog Inc., Lockheed Martin, Leonardo, Leidos, Indra Sistemas S.A, IDEMIA, General Atomics, G+D, Elbit Systems, Controp Precision Technologies, and Atos are prominent players in the global market for border security technologies.
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Future Market Insights, in its new offering, presents an unbiased analysis of the Border Security Technologies Market, presenting historical market data (2017 to 2021) and forecast statistics for the period from 2022 to 2032. The study divulges compelling insights on the border security technologies market based on systems (radar systems, laser systems, camera systems, unmanned vehicles, wide band wireless communication systems, command and control systems, biometric systems, drones, optical surveillance systems, electric fencing systems), and application (ground based, aerial based, naval based) across seven regions.
Global Border Security Technologies Market by Category
By Systems:
- Radar Systems
- Laser systems
- Camera systems
- Unmanned Vehicles
- Wide Band Wireless Communication Systems
- Command and Control Systems
- Biometric Systems
- Drones
- Optical Surveillance Systems
- Electric Fencing Systems
By Application:
- Ground Based
- Aerial Based
- Naval Based
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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