Recent Syrian refugee crisis beckons the need to increase the investments in the global border surveillance market. Moreover, the increasing application of unmanned solutions has also significantly contributed towards the growth of the global border surveillance market. As a result, the global border surveillance market is expected to reach the valuation of more than USD billion during the forecast period, and is expected to grow at a CAGR of more than 5%.
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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. Nations like Vietnam, Philippines, Malaysia, and Taiwan have been forced to increase their spending in order to secure their borders against China due to the South China Sea conflict. Other countries such as India and South Korea are expected to implement incremental features on their borders to counter the threats from their disruptive neighbors.
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.
Growing demand for surveillance drones, integration of IP technology in surveillance cameras, and the introduction of thermal imaging and panoramic surveillance cameras are some of the primary factors driving the global border surveillance market. In addition, the increased adoption of the stealth surveillance drones in vulnerable coastal/territorial borders and the growing usage of surveillance cameras for the protection of critical infrastructure is also expected to push the demand in the border surveillance market.
The key players of the global Border Surveillances 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 (U.S.).
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Market Research Analysis:
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 fuel the demand in the global border surveillance market. Development of new methods of surveillance through advanced cameras and drones has resulted in opening of new revenue streams in this market.
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