Rising safety and passenger protection concerns due to increase in terrorist activities is expected to stimulate global airport security market size over the forecast period. Growing air traffic with the increasing air travelers owing to the time related factors and rising disposable income may contribute towards the industry demand. Increasing number of airports are investing in complex control & command (C2) and integration solutions due to the high level of security offered by such systems. Moreover, these systems provide greater situational awareness.
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MaketStudyReport.com adds a new Airport Security Market Research Report for the period of 2016-2023 that shows the growth of the market is rising at a 4.6% CAGR to 2023.
Increasing investment to upgrade legacy or disparate systems may further drive the airport security market growth in the future. Infrastructure development and growing number of new airports in Asia Pacific region including India and China offers ample opportunities for the industry.
Moreover, enhancement of security technology that offers operators with better situational awareness greater efficiency, and increased security is anticipated to contribute to the airport security market size.
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Airport Security Market size is set to exceed USD 12.8 billion by 2023.Growing number of safety threats are compelling airports to become highly vigilant and are dictating the requirement for smarter security solutions. Such factors are driving investments towards the development of screening and identification technologies such as biometrics, RFID and prototype screening devices among others.
Key insights from the report include:
Airport cybersecurity market accounted for over 20% of the global demand in 2015. Increasing terrorism, and smuggling of premium goods has propelled the segment growth.
Growing demand for airline security to avoid the serious disruptions through cyber-attacks may enhance the airport security market revenue.
Screening technology was worth over USD 4 billion in 2015. Increasing adoption owing to the presence of the advanced features including metal detectors, X-ray machines and protection from sudden attack is fueling the technology demand.
The ability to screen individuals and luggage to identify endangered material will positively impact the airport security market share.
Prominent players in the airport security market include Smiths Detection, Safran Morpho, OSI Systems (Rapiscan), L-3 Security & Detection, and American Science & Engineering. Other notable players include, Bosch Security Systems, AutoClear LLC, CEIA, and Lockheed Martin.
Technological innovations and increase in R&D expenditure are among the key strategies adopted by participants to offer differential solutions to maximize market share.
Owing to the emerging new threats and stringent government regulations, airports need planning coupled with the obligatory infrastructure to drive actionable intelligence. Such developments have led to the shift towards IP based networked and integrated platforms.
These platforms help airports to reduce overall IT associated cost and the requirement for training.
Airport security market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2012 to 2023, for the following segments:
Airport Security Market by Technology:
Access Control, Cybersecurity, Perimeter Security, Screening, Surveillance, Others
The above information is provided for airport security market on a regional and country basis for the following:
North America, U.S., Canada, EU, UK, Germany, France
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