Market Trends of Border Security Industry
The Sea segment to Experience Major Growth
The sea segment under the platform segment is expected to lead the market during the forecast period. Maritime security requires appropriate border control measures along maritime border crossing points to help States better deal with transnational organized crime including piracy, terrorism, migrant smuggling, trafficking in persons, and arms proliferation. Despite clearly defined boundaries, maritime disputes are common in places where countries compete over inhabited and uninhabited islands. Many military superpowers, such as the United States, Britain, France, Germany, Russia, China, and Japan, have borders surrounded mostly by seas. There are many disputes in the South China Sea among China, Taiwan, Vietnam, the Philippines, and Malaysia, which have overlapping claims.
In the wake of all these issues, countries are increasing their respective military expenditure in order to prioritize their focus more on protecting their sea-based borders. With increasing threats over international waters, countries are focusing on developing their surveillance over the sea, which is expected to drive the sea-based platforms, to register the highest growth in the market, during the forecast period.
Asia-Pacific Dominates the Border Security Market
Asia-Pacific is expected to lead the market during the forecast period. This is primarily due to ongoing border issues between India - Pakistan, India - China, and China-Japan, among others. China is one of the largest countries in Asia that has territorial issues with Taiwan, India, North Korea, Malaysia, South Korea, Indonesia, Japan, the Philippines, and Vietnam.
In addition, governments in Asia-Pacific are taking major steps to secure their borders. For instance, in February 2023 India's defense budget for FY 2022-23 had a special focus on maritime security and border infrastructure development. The Ministry of Defence was allocated a total budget of USD 70.23 billion, which is 13.31% of the total union budget. The capital allocations for modernization and infrastructure development of armed forces have been increased to USD 20.33 billion, an increase of 12.82% over FY 2021-22. The capital budget has risen 47.37% since 2019-20, after clashes with both Pakistan and China. On the contrary, in October 2021, China passed the Land Border Law to strengthen its border security amid tensions with India after the violent clash between the Armies of India and China in Galwan Valley.
Increasing efforts by governments to secure their borders amid disputes with enemy countries are driving the market in Asia-Pacific.
