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Passenger Security Market Size Analysis, Comprehensive Research Study 2032 | Honeywell International Inc., Indra Sistemas S.A., Robert Bosch GmbH, Teledyne FLIR LLC, Autoclear LLC
Passenger Security Market Size
The Business Research Company's Passenger Security Global Market Report 2023 identifies rising passenger traffic as the major driver for the Passenger Security market's growth in the forecast period. The rise in passenger traffic requires the expansion of security measures for passengers. Airport security helps provide passenger security in airports during travel. For instance, in May 2022, according to the International Civil Aviation Organization, a US-based agency that coordinates international air navigation, from January to April 2022, there were 65% more passengers carried by air globally than there were during the same time in 2021, while there were 30% more aircraft departures.
The global passenger security market size is expected to grow from $5.79 billion in 2022 to $6.18 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. 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 global passenger security market size is expected to reach $7.82 billion in 2027 at a CAGR of 6.0%.
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Major competitors in the Passenger Security market are Honeywell International Inc., Indra Sistemas S.A., Robert Bosch GmbH, Teledyne FLIR LLC, Autoclear LLC, Smiths Detection Group Ltd., Adani Systems Inc., Advanced Perimeter Systems Limited, SITA, Navtech Radar, NEC Corporation, OSI Systems Inc., Thales Group, Swissport International AG, and Wabtec Corporation.
A key trend in the Passenger Security market includes technological advancement. Major companies operating in the passenger security market are focusing on developing new technologies to sustain their position in the market. For instance, in June 2022, Thales Group, a France-based producer of security management solutions for airport infrastructure and passengers, launched HELIXVIEW, a new and revolutionary airport scanner. It is a brand-new, cutting-edge Explosive Detection System for Cabin Baggage (EDS CB), allowing passengers to leave things alone.
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The Passenger Security market is segmented -
By Solution: Baggage Inspection Systems, Video Management Systems, Access Control Or Biometric Systems, Cybersecurity Solutions, Hand-Held Scanners, Full-Body Scanners, Explosive Trace Detectors, Walk-Through Metal Detectors, Perimeter Intrusion Detection Systems, Bar-Coded Boarding Systems
By Investment: New Demand, Replacement Demand
By End User: Commercial Airports, Seaports, Railway Stations
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Passenger Security market.
The Business Research Company's "Global Passenger 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 Passenger Security Market Include:
1. Executive Summary
2. Passenger Security Market Characteristics
3. Passenger Security Market Trends And Strategies
4. Passenger Security Market - Macro Economic Scenario
5. Passenger Security Market Size And Growth
……
26. Africa Passenger Security Market
27. Passenger Security Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Passenger Security Market
29. Passenger Security Market Future Outlook and Potential Analysis
30. Appendix
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