Unmanned Vehicles Segment to Dominate Europe Border Security Market during 2020–2028

According to a new market research study on “Europe Border Security Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Environment and System,” is expected to reach US$ 17598.15 million by 2028 from US$ 10721.69 million in 2021. The market is estimated to grow at a CAGR of 7.3% from 2021 to 2028. The report provides trends prevailing in the Europe border security market along with the drivers and restraints pertaining to the market growth. High investment in advanced weapon systems are the major factor driving the growth of the Europe border security market. However, growing initial investment and maintenance costs hinder the growth of Europe border security market.

Owing to the lockdown during the year 2020 because of COVID-19, several defense companies across Europe implemented a wide range of measures like halting or reducing production. The outbreak of the virus has distrusted the supply chain in various countries in this region. The member states of Europe such as Italy, Spain and Germany have implemented drastic measures and travel restrictions to limit the spread of coronavirus among its citizens. Moreover, the spread of COVID-19 at an alarming rate could shift governments’ priorities away from defense and towards healthcare and crisis contingency. For instance, there have already been announcements of spending cuts to EU programs. Most notably, the European Defense Fund (EDF) was originally set to receive US$ 16.32 billion for the next EU Multiannual Financial Network for 2021-27 which was cut to US$ 9.74 billion in May 2020. Thus, the spread of newly mutated strain of COVID-19 is anticipated to affect the Border Security market till first two quarters of 2021.

The Europe border security market is segmented on the bases of environment, system, and country. Based on environment, the market is segmented into ground, aerial, and underwater. In 2020, the ground segment held the largest share Europe border security market. Based on system, the border security market is categorized as Laser Systems, Radar Systems, Camera Systems, Perimeter Intrusion Detection Systems, Unmanned Vehicles, Wide-band Wireless Communication Systems, Command and Control (C2) Systems, Biometric Systems, and Others. In 2020, the Unmanned Vehicles segment held the largest share Europe border security market

BAE Systems plc; Elbit Systems Ltd.; FLIR Systems, Inc; Israel Aerospace Industries Ltd.; Leonardo S.p.A.; Lockheed Martin Corporation; Northrop Grumman Corporation; SaaB AB; Safran; Thales Group are among the leading companies in the Europe border security market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Safran Corporate Ventures has invested in SkyFive as part of the company’s Series A investment round. The investment round was led by Safran Corporate Ventures together with STAR Capital, a European private equity fund manager with a track record of developing emerging infrastructure businesses

The report segments the Europe Border Security Market as follows:

Europe Border Security Market – By Environment

• Ground
• Aerial
• Underwater

Europe Border Security Market – By System

• Unmanned Vehicles
• Radar Systems
• Command and Control (C2) Systems
• Wide-band Wireless Communication Systems
• Camera Systems
• Perimeter Intrusion Detection Systems
• Laser Systems
• Biometric Systems
• Others

Europe Border Security Market – By Country

• Germany
• UK
• France
• Italy
• Russia
• Rest of Europe