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Passenger Security Market Size, Analysis, Share, Research, Business Growth and Forecast to 2027
Passenger Security Market
This Report Answers the Following Questions:
• How will the market be affected by changing consumer behaviour?
• What are the market trends, challenges, opportunities, growth drivers, and obstacles?
• Which crucial strategies are being adopted by key companies to increase sales of passenger security systems?
• Which companies would dominate the market in terms of share?
• Which region is likely to generate the maximum revenue?
Drivers & Restraints-
Rising Threats of Bomb Attack, Man Pads, & Hijacks to Spur Growth
In the aviation industry, rising number of suspicious activities and terror threats are creating high demand for robust frontline passenger security systems across the globe. It is anticipated to propel the passenger screening system market growth in the coming years. Numerous countries are already facing vital concerns regarding passengers who often try to carry illegal weapons, liquid explosives, and prohibited drugs. Hence, the provisions for the aviation authorities are enhanced by the international regulatory frameworks to detect and prevent such cases. The major types of threats are hijacks, man pads, and bomb attack. These malicious activities require maximum layers of security. By installing state-of-the-art technology systems, such potential hazards can be restricted.
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Segment-
Airport Segment to Dominate Backed by Rising Passenger Preference for Air Transport
In terms of end user, the market is segregated into port, railways, airport, and others. The airport segment held the maximum passenger screening equipment market share in 2019 and is likely to lead during the forthcoming period. This growth is attributable to the rapid inclination of travellers towards air transport. It is occurring because of the availability of affordable air tickets, as well as rising disposable income of the masses. In 2019, there was a positive development of 4.5% in domestic air travel. It would boost the requirement of passenger security systems.
Regional Analysis-
Infrastructure Development Initiatives to Boost Growth in Asia Pacific
Geographically, the market is divided into the Middle East, Asia Pacific, Europe, North America, and the rest of the world. Amongst these, North America procured USD 1.96 Billion revenue in 2019. This growth mainly occurred because of the presence of numerous reputed passenger security system manufacturers in the U.S. Asia Pacific, on the other hand, stood in the second position in 2019. The region is experiencing considerable upgradation of commercial airports. Therefore, such initiatives to develop infrastructure would upsurge growth of the market.
Competitive Landscape-
Key Companies Engage in Investments to Develop Unique Passenger Security Products
The market houses renowned companies, such as Honeywell International Inc., SITA, and Smiths Detection Group Ltd. They are mainly focusing on investing hefty amount of money in the development of technologically advanced products. Below are a couple of the latest key industry developments:
• April 2019: Axis Communications announced its plans to debut the latest solutions and products at ISC West 2019. The products would consist of new developments in access control technology, multidirectional and infrared (IR) camera capabilities, and network audio. It would help the company in strengthening its position in the security industry.
• November 2018: The Israel Airport Authority (IAA) selected Smiths Detection and Eastronics to deliver their 32 advanced checkpoint lanes. These are meant for the new Ramon International Airport and the Ben Gurion Airport. The highly advanced lanes are specially created to enhance passenger experience and operational efficiency.
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Fortune Business Insights™ lists out all the companies operating in the global market. They are as follows:
• Smiths Detection Group Ltd. (The UK)
• Honeywell International Inc. (The US)
• Orbcomm (The US)
• L3 Security & Detection System (The US)
• Siemens AG (Germany)
• Rapiscan Systems (The US)
• Axis Communication AB (Sweden)
• Bosch Sicherheitssysteme GmbH (Germany)
• Autoclear LLC (The US)
• Nutech (China)
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Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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