The Global Maritime and Border Security Market 2020-2030 report provides the market size forecast and the projected Compound Annual Growth Rate (CAGR) for the next ten years. The report covers the industry analysis including the key market drivers, emerging technology trends, and major challenges faced by industry participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for maritime and border security market over the forecast period.
The demand for naval maritime and border security surveillance systems and infrastructure will be driven by the increasing transnational threats such as smuggling of counterfeit goods, drug & human trafficking, illegal immigration, weapons smuggling, and other criminal activities across countries. The repeated incidents of terrorist infiltration through borders and sea lines is also anticipated to emerge as a major factor driving the deployment of maritime and border security systems over the forecast period. To effectively tackle these issues various maritime and border security agencies worldwide are deploying the advanced Integrated Border Surveillance Systems (IBSS) to enhance their real-time situational awareness. The IBSS is capable of accurately detecting, tracking, classification, and recognition of targets near the border. It constitutes a key component of the maritime and border security and plays a vital role in improving the decision making capability, information management, and effective coordination of response teams to manage the identified threats. For instance, the European Union (EU) is testing AI based iBorderCtrl technology in Hungary, Greece, and Latvia to screen migrants at border crossings.
The maritime surveillance and detection segment is expected to be the largest segment and accounts for 60.4% of the global maritime and border security market over the forecast period. The increasing demand for acquisition and deployment of Unmanned Aerial Vehicles (UAVs), Maritime Patrol Aircrafts (MPAs), advanced patrol boats, and coastal surveillance systems to enhance maritime security is expected to drive the segment’s growth over the forecast period. According to Tushar M, Defense Analyst at GlobalData: "The increasing adoption of UAVs and the integration of artificial intelligence and data analytics to enhance surveillance capabilities is expected to have a significant impact on the maritime and border security market growth over the next decade."
North America region is expected to dominate the global maritime and border security market from 2020 to 2030. The regional domination is attributed to the increasing spending by the US and Canada on deployment of advanced maritime surveillance systems such as MQ-4C Triton and P-8 Poseidon (US) and the planned Multi Mission Maritime Aircraft Capabilities Program (Canada) to enhance maritime surveillance. Furthermore, The US Department of Homeland Security (DHS) is expected to spend US$21.6 billion on construction of US-Mexico border wall to modernizing its border security infrastructure and control the movement of people and goods in order to reduce the smuggling, illegal entry and money laundering.
In particular, the report provides an in-depth analysis of the following -
- Market size and drivers: Detailed analysis during 2020-2030, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world.
- Recent developments and industry challenges: Insights into technological developments and a detailed analysis of the existing maritime and border security projects being executed and planned worldwide. It also provides trends of the changing industry structure and the challenges faced by industry participants.
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand.
- Major programs: details of the key programs in each segment, which are expected to be executed during 2020-2030.
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global maritime and border security market. It provides an overview of key players, their strategic initiatives, and financial analysis.
- The global maritime and border security market is expected to grow at a CAGR of 2.05% over the forecast period.
- The global maritime and border security market is classified into four categories: Maritime Surveillance and Detection, Border Surveillance and Detection, Border Infrastructure and Protection, and Maritime Infrastructure and Protection.
- North America is expected to dominate the global maritime and border security market over the forecast period with a market share of 32.2%, followed by Europe and Asia Pacific regions.
- The maritime surveillance and detection segment is expected to dominate the maritime and border security over the forecast period.
Reasons To Buy
- Determine prospective investment areas based on a detailed trend analysis of the global maritime and border security over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different maritime and border security segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global maritime and border security market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global maritime and border security market
- Make correct business decisions based on in-depth analysis of the competitive landscape consisting of detailed profiles of the top maritime and border security solution providers around the world. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available