The Global Maritime and Border Security Market 2015-2025 research report forecasts a 4.23% CAGR for border and maritime security market that is worth $15.6 Billion in 2015 and will hit $23.7 Billion by 2025.
The border and maritime security market is anticipated to be dominated by Asia Pacific, followed by the North America and Europe. China is the largest spender with a cumulative expenditure of US$39.2 billion over the next decade. In terms of segments, maritime surveillance and detection is expected to account for the largest share of 38%, followed by Border surveillance and detection which is expected to garner a share of 30%. Border infrastructure and protection will be the third largest segment followed by maritime infrastructure and protection with cumulative spending of US$49.4 billion and US$21.0 billion respectively within the border and maritime security market.
During the forecast period the demand for maritime security market and border security equipment is anticipated to be driven by internal security threats, such as terrorism, threats to sovereign integrity, illegal border infiltration, piracy, drug trafficking, and critical infrastructure security, among several others. With rising territorial disputes and cross border violence in the Asia Pacific, the region is projected to account for the largest share of border and maritime security market spending during 2015-2025. While the US and Europe remain to be key markets for maritime and border security, impending threats from Islamic extremist groups will lead to high growth in the Middle Eastern and African markets over the next decade.