Press Release
Press Release
The Asia Pacific holds a significant market share due to the presence of military superpowers such as China, India, and Japan in the region. Perimeter security uses technology to identify threats, examine attack trends, and carry out surveillance.
The increased spending on defence by governments positively influences the perimeter security market growth. In 2022, China spent USD 291.96 billion on military expenditure, and the Indian government’s allocation of USD 73.8 billion for the defence budget makes it the third largest globally.
According to the Global Terrorism Index, compared to 2021, when an incident claimed 1.3 lives on average, terrorist strikes in 2022 claimed 1.7 lives on average. IS-related terrorism claimed lives in eighteen countries in 2022. The increased terrorist attacks and geopolitical risks necessitate the application of perimeter security for enhanced protection.
Additionally, government investment in smart city projects, such as in India, to attain its goal of a USD 5 trillion economy creates opportunities for the market for perimeter security. Product development for enhanced protection further supports the market growth.
In May 2023, Honeywell International Inc. (NASDAQ: HON) launched a new range of airside solutions, comprising improvements to its gate, turnaround, and airfield lighting portfolios, including the Honeywell NAVITASTM Smart Visual Docking system.
The solutions help optimise gate operations and increase situational awareness for pilots and airside operations staff, resulting in faster turnaround times for planes, to help airports maintain a smoother traveller experience amid increasing air traffic. At Dubai, United Arab Emirates' 2023 Airport Show, the newest solutions were shown.
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The major players in the global perimeter security market are Agent Video Intelligence Ltd., Honeywell International Inc., Dahua Technology Co., Ltd, Senstar Corporation, Fiber SenSys, Inc., and Bosch Sicherheitssysteme GmbH, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
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Breakup by Service |
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