Global Statistics Representing Airport Security Market Scenario
The demand for air travel is increasing around the world. With increasing terrorist activities, smuggling of goods, hijackings, and shoot-outs in high-risk locations such as airports, the need to ensure airport security is higher than ever before. Governments around the world have acknowledged this need and are taking appropriate measures. The 11 September 2001 attacks in the U.S. made airport security a global issue. After the attack, U.S. lawmakers made airport security a federal issue and formed TSA (Transportation Security Administration). Now, strict government rules exist for passenger and goods safety, which positively impacts the global airport security market.
Country-specific rules pertaining to airport security, military conflicts, and macroeconomic recession are some of the factors that may hinder market growth during forecast years. Additionally, high installation and maintenance cost of airport security solutions has also been restraining market growth to an extent. Innovative technologies such as biometrics, artificial intelligence, Internet of Things and robotics are revolutionizing the global market.
Airport security encompasses aircraft, staff and passenger safety. The global airport security market accounted for over USD 8.6 billion in 2017 and is expected to grow at a CAGR of 5.7% during the forecast period, 2019–2026.
The global airport security market has been segmented on the basis of technology and region. On the basis of technology, the market has been segmented into cybersecurity, perimeter security, screening, surveillance, and access control. Technological advancements have paved way for new vulnerabilities and threats to cybersecurity. Airports use a complex web of IT networks and control systems to manage security, baggage solution, and passenger processing systems. They are highly dependent on big data, IoT, cloud and digital technologies and thus, cyber threats can prove to be disruptive in a multitude of ways. Cybersecurity solutions focus on the preservation of IT infrastructure and critical data for systems such as air traffic control system, global distribution system, and computer reservation system. The screening application segment dominates the global market by technology.
Geographically, the global airport security market has been segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
North America accounts for the highest revenue share in the global airport security market, owing to the prevalence of stringent government regulations and high adoption of innovative security technologies in the region. For instance, in 2018, TSA (U.S.) tested a new screening technology, a computed tomography (CT) scanner, for screening passenger carry-on luggage. The other technology in use is Credential Authentication Technology (CAT), which allows TSA to validate the security features of a passenger’s photo identification and match that information against the Secure Flight Vetting system.
Radical terror attacks such as those in Brussels and the Istanbul airport in 2016 have prompted governments across Europe to implement stringent security measures, which in turn is expected to drive market growth in the region.
Asia Pacific is pegged to the fastest growing region in the airport security market, driven by economic development, increasing air travel volume, terrorist attacks and security breaches. Additionally, developing economies in the region are investing in new airport construction projects, which is expected to cater new growth opportunities for participants in the future. According to Airport Technology, the Civil Aviation Administration of China (CAAC) is planning to construct 216 new airports by 2035 to meet the growing demand for air travel.
Governments across Latin America and the Middle East & Africa are undertaking large-scale construction activities for the development and modification of new and existing airport infrastructure, which has been surging the demand for airport security solutions.
Some of the key players in the global market include Bosch Sicherheits systems Gmbh (U.S.), Autoclear, LLC. (U.S), Lockheed Martin Corporation (U.S.), Smiths Detection Inc. (U.S.), Siemens Ag(Ge4rmany), Osi Systems, Inc (U.S.) and Safran ( France).
DC Description: Global Airport Security Market, Global Marine Security Market, Airport Passenger Screening System Market, Airport Management Market, Global Application Security Market, Border Security Market.
Airport Security Market Segmentation
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This report offers key insights pertaining to the airport security market with emphasis on recent developments across geographies and development strategies adopted by prominent market participants. The following sections have specifically been covered in the report.