Global Territorial Border and Coastal Surveillance System Market 2017-2021
About Territorial Border and Coastal Surveillance System
Internal and external security threats, such as terrorism, civil unrest, illegal border infiltration, piracy, drug trafficking, and critical infrastructure demolition, urge countries to focus on fortifying maritime and border security. As coastal and border regions form the primary line of defense for any country, investments in maritime and border security are expected to result in substantial growth during the forecast period. In addition, several border conflicts among nations and increasing claims over natural resources and strategically important regions are expected to lead to a substantial increase in military spending in the market.
Technavio’s analysts forecast the global territorial border and coastal surveillance system market to grow at a CAGR of 6.20% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global territorial border and coastal surveillance system market for 2017-2021. To calculate the market size, the report considers the new installations, shipments, sales, volume, retrofit, replacement, spares, and aftermarket services.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Territorial Border and Coastal Surveillance System Market 2017-2021
Technavio recognizes the following companies as the key players in the global territorial border and coastal surveillance system market: Elbit Systems, FLIR Systems, General Dynamics, Lockheed Martin, and Thales.
Other Prominent Vendors in the market are: Airbus Defense and Security, Controp, Saab, Signalis, and Textron System.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is open architecture surveillance systems. An open architecture surveillance system is one that enables the introduction of new interfaces to the system and new modes of interaction. This also includes the simplicity of design and connectivity with minimum cost and impact on existing system components. This involves the use of widely accepted hardware and system software standards, well-defined interfaces, and standard application components.”
According to the report, one of the major drivers for this market is focus on preventing smuggling of goods. There has been a rise in the number of activities related to the smuggling of goods in the past couple of years. With the tightening of security in land borders, smugglers are using the sea route to enter countries. This has led to the incorporation of surveillance systems by the sea border patrol to stop the occurrence of such illegal activities.
Further, the report states that one of the major factors hindering the growth of this market is susceptibility toward cyber breach and hacking. Surveillance systems are sophisticated equipment and require substantial technological expertise in their development and operations. The increase in cyber attacks on surveillance systems is a major hindrance to global defense organizations. Surveillance architectures require innovative security measures, including multifactor authentication and biometrics, as well as strategic security planning and training.
Elbit Systems, FLIR Systems, General Dynamics, Lockheed Martin, Thales, Airbus Defense and Security, Controp, Saab, Signalis, and Textron System.