SecurityWorldMarket

28/07/2024

Geopolitical instability drives border security to almost $27 billion

Northbrook, Il (USA)

According to the latest information from Marketsandmarkets, the border security market is projected to reach USD 34.4 billion by 2029, from USD 26.8 billion in 2024, at a CAGR of 5.1% from 2024 to 2029. The market growth can be attributed to the rising geopolitical instability and growing adoption of new technologies for border security. The border security market includes major US players such as Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman, and BAE Systems from the UK, and the French company, Thales. These players have spread their business across various countries includes North America, Europe, Asia Pacific, and Middle East.

As might be expected, it is the surveillance system segment of the border security market that is expected to lead due to the increasing need for advanced monitoring solutions to address rising security threats. With advancements in technology, these systems offer enhanced capabilities such as real-time monitoring, and improved accuracy. Governments and border control agencies are investing heavily in these systems to ensure comprehensive security, efficient threat detection, and rapid response, making surveillance systems a critical component of modern border security infrastructure.

Systems are being enhanced with new advanced technologies

Based on installation, the market is segmented into new installations and upgrades. Border security upgrades are expected to grow significantly as nations respond to emerging threats and technological advancements. With the increasing sophistication of criminal and terrorist activities, traditional border security measures are becoming insufficient, prompting the need for enhanced and modernised systems. Upgrades such as the integration of advanced surveillance technologies, including drones, high-resolution cameras, and thermal imaging, provide more comprehensive monitoring and detection capabilities.

North America leads the market with over half the market share

The border security market is expected to be dominated by North America, with a projected market share of 58.5% in 2024. This is caused by a number of important elements, including the geopolitical environment, the economic potential of the North American nations, and the existence of numerous significant players in the area.

Strong security measures are required since North America, and especially the United States, has a large area of land and sea boundaries. The region has made significant expenditures in advanced border security technologies as a result of its focus on stopping drug trafficking, illegal immigration, and possible terrorist activity. Furthermore, the financial resources of North American nations enable the widespread acquisition and implementation of advanced security measures. The defence and security budgets of the governments in this region are substantial, allowing them to invest in state-of-the-art technologies such as unmanned aerial vehicles, biometrics, and surveillance systems.


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