Border Security Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UK, June 21, 2024 /EINPresswire.com/ -- The global border security market is projected to grow from $42.03 billion in 2023 to $46.65 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.6%. This growth is driven by increasing concerns over terrorism, migration, drug trafficking, and technological advancements enhancing surveillance capabilities.
Emerging Technologies and Global Threats Fuel Market Expansion The border security market is expected to continue its robust growth trajectory, reaching $59.97 billion by 2028 with a CAGR of 7.1%. Factors contributing to this growth include advancements in technologies like AI and biometrics, rising cybersecurity concerns, and the need for pandemic preparedness strategies. These trends underscore the market's evolution towards more sophisticated, integrated security solutions.
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Key Players and Strategic PartnershipsMajor companies such as Cobham plc., Raytheon Technologies, and Airbus SE are leading the charge in border security solutions. These companies focus on strategic partnerships to enhance their capabilities in surveillance, threat detection, and response . For example, BAE Systems' partnership with the UK's Home Office aims to strengthen border security through advanced analytics and real-time threat assessments.
Market Segments•Component: Laser, Radar, Camera, Perimeter intrusion, Other Components•System: Cargo Scanner, Elemental Isotope Detector, Ground Sensor, Radar System, Night-Vision Goggles, Unmanned Systems, Satellite Surveillance, Communication System, Biometric System, Other Systems•Platform: Land Port, Ports, Aviation
Asia-Pacific Leading the MarketIn 2023, Asia-Pacific emerged as the largest region in the border security market, driven by increasing investments in border surveillance technologies. The region is expected to maintain its leadership position and witness the fastest growth during the forecast period, supported by rising security concerns and infrastructural developments.
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Border Security Global Market Report 2024 from TBRC covers the following information:•Market size data for the forecast period: Historical and Future•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Border Security Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on border security market size, border security market drivers and trends, border security market major players, competitors' revenues, market positioning, and market growth across geographies. The border security market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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June 21, 2024, 15:40 GMT
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Originally published at https://www.einpresswire.com/article/721765698/asia-pacific-the-largest-region-in-the-border-security-market-in-2023
