Tuesday, 02 January 2024 12:17 GMT

Border Security Market Size, Share, Competitive Landscape And Trend Analysis Report


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How Large Will The Border Security Market Be By 2025?
In recent times, there has been a substantial expansion in the market size of border security. Upon moving from a market value of $45.65 billion in 2024, it would reach the mark of $49.21 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.8%. Factors such as terrorism and cross-border threats, issues relating to migration and refugees, drug trafficking and smuggling, advancements in technology, globalisation and trade security contributed to the historic period's growth.

The market size for border security is poised for significant expansion in the upcoming years, with predictions indicating an increase to $62.66 billion by 2029 and a compound annual growth rate (CAGR) of 6.2%. The anticipated surge during the projection period is largely due to factors such as the integration of AI and other cutting-edge technologies, advancements in biometric validation for improved identification, challenges posed by climate change and environmental stressors, issues pertaining to cybersecurity and digital threats, and preparedness for global health crises and pandemics. The forthcoming era will witness trending patterns such as the adoption of highly sophisticated technologies, biometric authentication for verifying identities, the use of unmanned aerial vehicles (UAVs) and drones, implementing cybersecurity precautions for important infrastructure, and encouraging international cooperation and information dissemination.

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What Are The Major Driving Forces Influencing The Border Security Market Landscape?
The escalation of territorial disputes is anticipated to drive the expansion of the border security market. Territorial disputes involve conflicts or disagreements among countries or other political entities concerning the control, ownership, or sovereignty of a particular piece of land or territory. These disputes can be caused by historical, political, ethnic, economic, or strategic factors. To assert dominance over contested territories, protect national boundaries, manage potential security risks, and boost control and surveillance capabilities, border security methods are frequently applied. As reported by ReliefWeb, a US-based digital platform for coordinating humanitarian affairs, terrorist attacks became more lethal in 2022, causing an average of 1.7 deaths per attack, as compared to 1.3 deaths in 2021. As such, the expanding pharmaceutical industry is contributing to the growth of the border security market.

Who Are The Top Players In The Border Security Market?
Major players in the Border Security include:
. Cobham plc.
. Raytheon Technologies
. Airbus SE
. Lockheed Martin
. General Dynamics Corporation
. Northrop Grumman Corporation
. BAE Systems
. Safran SA
. Thales Group
. L3Harris Technologies

What Are The Key Trends Shaping The Border Security Industry?
The leading firms in the border security industry are moving towards strategic collaborations to deliver comprehensive solutions and tackle the intricacies involved with border control. Strategic collaborations enable firms to utilize each other's strong points and resources for shared advantages and accomplishments. For instance, BAE Systems, a UK-based aerospace firm, formed a partnership with the Home Office, a UK government department, in February 2023. Their common goal is to aid in identifying threats to national security at the UK border and to instigate a project known as Cerberus. This project is intended to protect UK borders using sophisticated data analytics. This contract, valued at $49.4 million (£38 million) for three years, will enable real-time risk analyses to identify high-risk movements of goods and individuals, and expedite the process for those deemed low-risk. This will boost efficiency for the Border Force and promote UK growth and flow.

Market Share And Forecast By Segment In The Global Border Security Market
The border security market covered in this report is segmented –
1) By Component: Laser, Radar, Camera, Perimeter intrusion, Other Components
2) By System: Cargo Scanner, Elemental Isotope Detector, Ground Sensor, Radar System, Night-Vision Goggles, Unmanned Systems, Satellite Surveillance, Communication System, Biometric System, Other Systems
3) By Platform: Land Port, Ports, Aviation

Subsegments:
1) By Laser: Laser Detection Systems, Laser Barrier Systems, Other Laser Technologies
2) By Radar: Ground-Based Radar, Airborne Radar, Other Radar Systems
3) By Camera: Surveillance Cameras, Thermal Imaging Cameras, Other Camera Types
4) By Perimeter Intrusion: Fencing Systems, Motion Sensors, Other Perimeter Security Solutions
5) By Other Components: Access Control Systems, Security Management Software, Other Border Security Technologies

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Border Security Market Regional Insights
The leading region in the border security market in 2024 was Asia-Pacific, which is also anticipated to experience the most rapid growth in the projection period. The border security market report includes regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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