Today’s global political scene is a rather messed up combination of strong egos and misplaced affiliations. All that entails bilateral arguments that have the propensity to graduate into full-blown armed conflicts. Thankfully, homeland security ensures that the fallout from such conflicts isn’t directly affecting a clear majority of the country’s population.
However, being prepared in terms of advanced surveillance technologies is the name of the game. And the special forces and the governments of the world are clearly dedicated to this objective.
As a vendor, this is an interesting development for your undertaking. Dedicated innovation and extensive R&D will ensure that you offer the defenders the technology and support that will help them keep their territorial and coastal borders safe. However, amid heated competition, your setup must also account for the following challenges-
- Susceptibility towards online infiltration and hacking
- Policies as pushed forth by lawmakers that impede market growth
- Rapid development of countermeasure systems
At least in the case of the final point about the development of countermeasures, the vendor can adequately modify their capabilities to action a very opposing set of expectations. The same cannot be said about the increasing instances of cyber hacking and online warfare wherein the stakes are that much higher as the deployed surveillance and defense systems could be used for an entirely destructive set of objectives. Proving that the systems and protocols that are being pushed in the endeavor for homeland security are foolproof and cannot be tampered with could emerge as a major USP for the vendors of such systems.
Market research points to the upcoming heyday
As is, the global market for territorial border and coastal surveillance systems is expected to grow at an impressive CAGR in the forthcoming five-year period. According to a comprehensive market research report published by Technavio, all the major power blocks of the world- the Americas, APAC and EMEA- will share equally in this push, with existing vendors investing heavily on innovation and quick turnaround times to appeal to the target audience group. The underlying threat of new entrants jumping into the homeland security game is phenomenally high, while at the other end of the scale, the bargaining power of the buyers is fairly limited. To establish oneself, the vendor must promote surveillance and deterrent systems that are the most cost effective, durable, innovative, feature rich and unique. Quite a tall ask there!
Timely insights lead to market domination
The key to leveraging the onboard resources in the right direction, for maximum profit potential, is through the detailed and strategic study of the market and all that it encompasses. The industry will benefit definitely from the following developments-
- Intensification of maritime disputes amongst countries
- Growing infiltration through borders
- Renewed focus on preventing the smuggling of goods
However, only those vendors that do align their resources and corporate targets in line with the aforementioned trends will be able to reap the benefits. The onus must be on keeping a keen watch on the changing conditions in the global territorial border and coastal surveillance system market, through expert insights and predictive data that is market specific and includes a number of key parameters. Information, that is readily found in the comprehensive market research report from Technavio.
