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Airport Security Market in Screening Application is Projected to Grow Exponentially Over Coming Years | Leading Players are Axis Communications, FLIR Systems, G4S, Hitachi, IBM, Lockheed Martin, Safran, Siemens, Smiths Detection, Thales, Leidos

Airport Security Market

Airport Security Market

The screening application segment of the airport security market is anticipated to dominate in terms of revenue during the forecast timespan. Various governments, in light of rising attacks, have initiated stringent baggage and traveller scanning protocols. For instance, the Liquids Rule issued by the Transportation Security Administration in the U.S restricts the quantity of fluids in hand-held baggage. This is to dissuade terrorist attacks from the carriage of corrosive and acidic liquids that can pose a security threat.

Continuous evolution of criminal activities, such as data thefts, cyber-attacks, and hijackings, in terms of technological complexity and method of execution is a major factor driving the airport security market. Rise in terroristic and smuggling attacks has led to governments of various economies to undertake stringent safety measures and protocols for the safeguarding of human life and protection of financial data and consumer trust.

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Furthermore, occurrence of these activities can disrupt business for elongated periods of time, making the airport unusable. For instance, in June 2016, mass shooting and bombing attacks at Ataturk Airport in Instanbul was responsible for more than 230 casualties. Rapid industrialisation and globalization has propelled the global passenger traffic. Governments across various regions, primarily in the South-East region, are undertaking large scale construction activities for the development of new and modification of existing airport infrastructure, contributing to the growth of the airport security market.

The Major Key Players in the Market are as follows:

1. American Science and Engineering, Inc.
3. Axis Communications
4. Bosch Security and Safety Systems
6. Fisher Research Laboratory Inc
7. FLIR Systems
8. G4S
9. Hitachi
10. IBM
11. L3 Security & Detection Systems
12. Lockheed Martin
13. Millivision Inc
14. OSI Systems
15. RedXDefense, LLC
16. Safran
17. Scanna
18. Siemens
19. Smiths Detection
20. Thales
21. Westminster Group plc
22. Leidos

Technological advancements are revolutionizing the landscape of the airport security market. To tackle the issues of passenger inconvenience stemming from long waiting times and physical body checks, the companies operating in the industry are highly focusing on the R&D activities. For instance, innovations including SmartGate passport processing, IP-based surveillance and biometric facial identification are currently being trailed at international hubs across the world and have led to massive improvements in efficiency and comfort levels as opposed to conventional systems.

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The rising trend of IoT technology has further fuelled the demand for airport security market. For instance, Birmingham Airport has implemented a solution that accurately measure queues and predict waiting times. These technologies, which include RFID baggage reconciliation systems, e-gates, and more. Smart technologies, however, owing to their increased dependence on the internet, are more susceptible to thefts and hacking attacks.

Considering the geographical aspects of airport security market, although Asia Pacific is expected to be a major investment hub, experts claim North America to dominate the regional landscape in terms of revenue in the following seven years. Stringent regulatory compliances to reinforce airport security and mitigate terror attacks have been the key factors leading to robust adoption of airport security technologies.

The companies operating in the global airport security market include Axis Communication, CEIA, BOSCH Security Systems, IBM Corporation, G4S PLC, Hitachi Ltd, Lockheed Martin Corporation, Scanna MSC Ltd., Siemens AG, Vision-Box, and Thales Group. The vendors work in close collaboration with the end-users for the testing of their technologies.

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Amidst the perpetually rising terror attacks pertaining to the aviation industry, it is rather overt for the global airport security industry to garner huge proceeds and developments in the coming years. Global Market Insights, Inc., projects the overall airport security market to register a y-o-y growth rate of 7% over 2017-2024, crossing a valuation of USD 16 billion by 2024.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

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