The maritime and border security market is dominated by the Asia Pacific region, whose spending is largely influenced by the current and future procurement programmes of China, India, South Korea, Australia and Japan during 2017-2027, according to a report by Strategic Defence Intelligence (SDI).
Titled ‘The Global Maritime and Border Security Market 2017-2027’, the report offers insights of the maritime and border security market.
The ongoing conflicts between countries in the Asia Pacific region have resulted in higher spending towards the protection of land and maritime boundaries.
In addition, strategic competition between the rapidly growing military forces of China and India is further expected to fuel investment in the sector.
India continues to heavily invest in border infrastructure and surveillance in order to counter terrorist activities emerging from its borders with Pakistan, as well as address territorial disputes with China along the Himalayan ranges.
On the other hand, Chinese maritime force projection in the South China Sea and North Korea’s recent aggression and repeated demonstration of nuclear arms have resulted in conflicts with neighbouring countries, which in turn has led to the nations enhancing their respective maritime and border security capabilities to defend their interests.
These aspects are anticipated to drive substantial flow of investments in support of maritime and border security in the region during the forecast period, states the report.
The increasing demand for maritime and border security equipment across the region is also expected to create abundant opportunities for global and regional defence contractors.