Market Trends of Asia-Pacific Border Security Industry
Sea Segment is Estimated to Show Significant Growth During the Forecast Period
The sea segment is projected to show significant growth during the forecast period. The growth is due to growing defense expenditure, rising spending on enhancing naval capabilities, and increasing procurement of advanced border patrol vessels from countries like India and China. Despite having clearly defined boundaries, maritime disputes are common in places where countries compete over inhabited and uninhabited islands.
Many Asia-Pacific nations, such as South Korea, India, China, and Japan, have borders surrounded mostly by seas. There are several disputes in the South China Sea among China, Taiwan, Vietnam, the Philippines, Japan, and Malaysia, which have overlapping claims. In the wake of all these issues, all these countries are focusing more on protecting their sea-based borders. For instance, the Indian Navy plans to procure several unmanned aerial and underwater platforms in the next few years to enhance its surveillance capability.
In February 2022, Goa Shipyard Ltd. developed the offshore patrol vessel Saksham for the Indian Coast Guard. The ship is fitted with advanced technological navigation and communication equipment, machinery, and sensors. Thus, countries are focusing on developing their sea-based surveillance capabilities, which are expected to drive the growth of the sea segment of the market during the forecast period.
India Will Showcase Remarkable Growth During the Forecast Period
India is expected to showcase remarkable growth during the forecast period due to increasing defense spending and rising expenditures on procuring advanced border security systems. Widespread geopolitical conflicts, such as the ongoing border infiltration issues between India and Pakistan, illegal human trafficking across the Indo-Bangladesh border, and force multiplication across the Indo-China border, have necessitated the adoption of advanced border security systems to monitor the situation.
India is currently working on the Comprehensive Integrated Border Management System (CIBMS), which is expected to become fully functional by 2025-2026 over a 2,000-kilometer stretch on the national borders with Pakistan and Bangladesh to monitor and detect acts of intrusion.
For instance, in November 2022, the Indian government allocated USD 3.6 million to procure drones, surveillance cameras, and other monitoring gadgets for the Border Security Force (BSF) deployed to guard Indian borders along Pakistan and Bangladesh. Such developments are envisioned to drive the market during the forecast period.
