Airport Security Market Will Reflect Significant Growth Prospects during 2023: Key Players Lockheed Martin Corporation, Raytheon Co., Boeing Co., Northrop Grumman Corp., Booz Allen Hamilton Inc., BAE systems plc., and General Dynamics Corporation

The airport security systems market includes a wide range of products like CCTV, video surveillance, terminal security, bio-metrics, security robots, passenger and cargo security systems like x-ray screening and substance detection systems, perimeter protection systems, wireless alarm systems, authenticating and identification equipment, fire detection, and alarm systems.

The market is segmented based on security systems into Surveillance Systems, Bio-metric Systems, Screening and Scanning Systems, Perimeter Intrusion Detection Systems, and Fire Safety Systems. The bio-metric systems are further classified based on the technology used in Face Recognition, Iris and Retina Recognition, Fingerprint Recognition, Other Bio-metric Systems. Other Bio-metric Systems include DNA recognition, Handwriting recognition, Hand Geometry recognition, Signature recognition, Voice recognition, etc.

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Bio-metric Systems Segment to Experience the Highest Growth During the Forecast Period

Bio-metric Systems segment of the market is anticipated to grow at the highest CAGR during the forecast period. Various airports and airlines are currently testing and using bio-metrics in the airports to speed up various airport processes like check-in and security check or passport control. Some of the airports in countries like the US, the UK, China, Japan, and Singapore are currently using this technology and many other airports in smaller countries are in the testing phase of bio-metrics. The Transportation Security Administration of the United States released a road-map for enhancing the aviation security & the passenger experience using bio-metrics in September 2018 with the vision to transform the commercial aviation ecosystem by 2023.

Under Digi Yatra initiative, Airports Authority of India is currently testing the use of facial recognition system at checkpoints like Entry point check, Entry into Security Check, Aircraft Boarding, etc., in airports of Bangalore and Hyderabad and plans to use these system initially at airports at Kolkata, Varanasi, Pune, and Vijayawada. Such initiatives from the governments and advancement in technology for faster processing of passengers are acting as major drivers for the growth of the segment during the forecast period.

Asia Pacific region is expected to generate the highest demand for airport security systems during the forecast period. The growth of the market is due to the increasing terrorist activities and increasing investments in the aviation infrastructure, which is fuelled by the increase in air passenger traffic in the region. China and India are the highest spenders in aviation infrastructure in the region and are experiencing the highest growth in the air passenger traffic.

Countries like Australia, Indonesia, and the Philippines among others have finalized their plans for the construction of new airports during the forecast period. For instance, Australia has begun the construction of Western Sydney Airport in September 2018 with an investment of USD 3.6 billion and is scheduled to open by 2023. Similarly, development plans of Jakarta Airport and commencement of construction of a new international airport project in the Philippines are also set to begin by the end of 2019. Such investments are anticipated to generate demand for new airport security systems for airports and new facilities during the forecast period.

Key aviation security market players include Lockheed Martin Corporation, Raytheon Co., Boeing Co., Northrop Grumman Corp., Booz Allen Hamilton Inc., BAE systems plc., and General Dynamics Corporation.
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