Visiongain Publishes Border Security System Market Report 2021-2031
30 January 2021
Visiongain has published a new report on Border Security System Market Report 2021-2031 : By System (Radar System, Laser System, Camera System, Intelligent Fencing System, C4 Systems, Biometric Systems) By Type (Platform based, Stationary, Portable) By Application (Airborne, Naval, Land) and Leading Regional/ Country market analysis.
Global border security systems market is estimated to be valued at US$ xx billion in 2021 and is projected to grow at a CAGR of xx% to reach a market value of US$ xx billion by 2031. Border security systems market has been witnessing strong growth over the past few years on account of increasing border disputes with neighboring countries across the globe. Increasing illegal movement of goods and people through land and sea has resulted in increase need for surveillance and monitoring systems across the border. Rising terrorist activities, territorial disputes, and geopolitical instabilities over the past few years has also bolstered the demand for border security systems over the recent past.
Countries across the globe are increasingly focusing on the procurement of Unmanned Aerial Vehicles (UAVs) for illegal transport of drugs, weapons, and explosive material, which is also one of key factors resulted in the demand for border security systems such as radars, laser based system, cameras, and intelligent fencing systems among others. Moreover, emergence of several modern warfare techniques and weapon systems has also resulted in the demand for enhanced security and ISR capabilities across the border. North America and Europe are the major spender on the border security systems during the forecast period. However Middle East and Asia-Pacific regions are anticipated to witness highest market growths between 2021 and 2031. In addition, ongoing tension between India and China is also expected to influence the market growth positively over the forecast period.
COVID-19 Impact on Border Security Systems Market
COVID-19 has affected the global economies negatively during the past few months, due to which defense budgets in 2021 are anticipated to fall considerably, compare to last few years. Majority of the countries spend around 2% of their GDP on defense budget and this percentage is expected to fall in coming years. As a result, all the markets in defense sector including border security systems is anticipated to witness smaller investments on the procurement over during 2021-2024. However, market is expected to regain its growth phase during the second half of the forecast period.
Some of the company’s profiled in this report include Lockheed Martin Corporation, Thales SA, BAE Systems PLC, Raytheon Company, Elbit Systems, Saab AB, Flir Systems, Inc., Northrop Grumman Corporation, Finmeccanica SPA and Rockwell Collins, Inc.
• In July 2020, Anduril, a startup company in US has received a contract to install 200 Anduril sentry towers across the US-Mexico border. Anduril sentry towers will serve as a virtual border wall and are capable of detecting moving vehicles and human beings across the border. Out of 200 towers, 60 were already delivered as a part of pilot program and remaining 140 will be installed during the period of 2021 and 2022. The company has received a funding of US$ 200 million in the same week of the contract from venture capital firms, Thiel’s Founders Fund and Andreessen Horowitz.
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