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Border Security System Market to See Steady Growth of USD 52.95 Billion by 2022

border security system market


The global Border Security System Market is expected to reach USD 52.95 billion by 2022. It is projected to grow at a CAGR of 7.16% between 2016 and 2022. The main drivers of this growth are need for advanced technology security systems and the rising territorial conflicts and geopolitical instabilities. The use of Border Security system is going to increase exponentially in the future because of rising territorial conflicts, terrorism and geopolitical instabilities along with the need of advanced technology Border Security Solutions. The APAC market is expected to grow at the highest rate due to the increased investment for strengthening the surveillance and weapon guidance capabilities by China, India and Japan, and increased spending of governments to tackle terrorist attacks, infiltration, illegal immigration and criminal activities.
In the Border Security system market report, Ground based systems account for the largest percentage share. The major challenges faced by ground border security are conventional international disputes, cross-border infiltration, illegal migration, smuggling and other forms of criminal activity. Ground border security is aimed at safeguarding lawful trade and travel and disrupting and dismantling transnational criminal and terrorist organizations on land.

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Major Market Developments:
  • In March 2016, Rockwell Collins was awarded a contract by the Peruvian Navy to install Talon V/UHF tactical radio system on its SH-2G Super Seasprite helicopters. The Talon radio would provide secure voice and data communication capabilities to support the various missions of the SH-2G platform, including surface and sub-surface maritime, blue water and littoral surveillance, and search and rescue operations.
  • In February 2016, Raytheon upgraded the combat-proven Patriot Air and Missile Defense System. The Patriot radar main array was enhanced with gallium nitride- (GaN) based, Active Electronically Scanned Array (AESA) technology. The projected upgrade delivers 360-degree capability and keeps Patriot ahead of increasingly more sophisticated threats, such as aircraft, drones, and cruise and ballistic missiles.
  • In February 2016, Israel Aerospace Industries Ltd. and Hankuk Carbon, a Korean composite manufacturer, signed a Memorandum of Agreement (MOA) to establish a joint venture to develop, manufacture, and sell vertical take-off and landing (VTOL) UAV.
One of the main restraints of the Border Security system market is the falling crude oil prices along the globe thus hampering the defence expenditure of some countries for a temporary period.  To balance this situation some oil producing countries are resorting to cut in annual budgets, planning to limit the defence expenditure in some areas for a temporary period of time until the oil prices are stable again.
The major players in the Border Security system market are Lockheed Martin Corporation (US), Raytheon company (US), Northrop Grumman Corporation (US), Thales (France), BAE Systems (UK), Flir systems (US), and Elbit systems (Israel), among others.
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