Embracing the Future: Exploring the Rising Trends of RFID Baggage Reconciliation, Remote Check-Ins, E-Gates, and Sensor Innovations in Airport Security Market Report 2023

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Airport Security Global Market Report 2023 the increase in new airport building operations and facilities improvements as the major driver for the airport security market's growth in the forecast period. Airport building operations and facilities improvements refer to the improvements in the infrastructure of the airport as well as the facilities such as arrival, departure, check-in, airport staff, and so on. With the growth in population, air traffic, and increasing demand for the modernization of the infrastructure there has been an increase in new airport building operations and facilities improvements. For instance, in May 2021, Raytheon Technologies was awarded a USD 318 million contract by the U.S. Transportation Security Administration (TSA) to deploy checked baggage screening machines at all federally managed airports. This five-year contract covers the expansion of equipment at about 430 federal airports across the country.

The global airport security market size grew from $13.64 billion in 2022 to $15.61 billion in 2023 at a compound annual growth rate (CAGR) of 14.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The airport security market size is expected to grow to $23.86 billion in 2027 at a CAGR of 11.2%.

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Major competitors in the airport security market are American Science and Engineering, Bosch, C.E.I.A SpA, Hitachi, L-3 Communications, Lockheed Martin, OSI Systems, Safran Morpho, Siemens AG.

A key trend in the airport security market includes technological advancements. According to a report by PR Newswire, 2020 OSI Systems, Inc., a US-based developer of security and inspection systems, announced that its security division was awarded multiple contracts for approximately $93 million from an international government customer to provide various Rapiscan X-ray cargo and vehicle inspection systems, luggage and parcel inspection systems, trace detection systems, and maintenance and support services.

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The airport security market is segmented -

• By Technology: Access Control, Cybersecurity, Perimeter Security, Screening and Scanning, Surveillance, Real-Time Locating System (RTLS), Other Technologies

• By System: Metal Detectors, Fiber Optic Perimeter Intrusion, Backscatter X-Ray Systems, Cabin Baggage Screening Systems, Other Systems

• By Application: Civilian and Commercial Airport, Military Airport

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the airport security market.

The Business Research Company's "Global Airport Security Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Airport Security Market Include:
1. Executive Summary
2. Airport Security Market Characteristics
3. Airport Security Market Trends And Strategies
4. Airport Security Market - Macro Economic Scenario
5. Airport Security Market Size And Growth
……………
27. Airport Security Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Airport Security Market
29. Airport Security Market Future Outlook And Potential Analysis
30. Appendix

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