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Border Security System Market expected to grow CAGR of 7.16% by 2022

The global Border Security System Market is expected to reach USD 52.95 billion by 2022, growing at a CAGR of 7.16% between 2016 and 2022. 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. This would help the Border Security system market to witness significant growth during the forecast period. This report covers the Border Security System market segmented on the basis of environment, systems and geography.

Market Dynamics for Border Security System Market

Drivers

Rising geopolitical instabilities and territorial conflicts

Increasing adoption of unmanned system solutions by different military and defense forces

Restraints

 Stringent regulatory environment in different regions

Opportunities

Increase in defence spending by the developing economies

Rising trend of autonomous operations

Challenges

Development of high-quality and reliable solutions

 

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There would be a significant increase in the biometric systems of the border security system market, and it is estimated that it would grow at CAGR higher than any other industry between 2016 and 2022 owing to the adoption of Biometric systems on a-large scale to tackle illegal immigration, human trafficking among others. Schemes such as development of national IDs, e-passports, and e-visas are expected to be the main drivers for it.

The APAC Border Security system market is segmented into countries such as China, Japan, India, South Korea, and Rest of APAC. The major driver for the APAC market is 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. North America dominates the market in terms of revenue generation. The drivers being the use of advanced weapons and technology for overseas contingency operations such as Afghanistan and Iraq. Currently, the ongoing operations in Syria and Libya against terrorist outfits are prompting the U.S. to use advanced border security system technology.

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