Airport Security Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2084

The Business Research Company offers in-depth market insights through Airport Security Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The airport security market size has grown rapidly in recent years. It will grow from $15.52 billion in 2023 to $17.45 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. The growth in the historic period can be attributed to terrorism threats, regulatory compliance, rise in passenger volume, globalization, infrastructure development.

The airport security market size is expected to see rapid growth in the next few years. It will grow to $27.31 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to rising cyber security attacks, digitization of airports, increasing investments in aviation sector, rising tourism, rise in trade. Major trends in the forecast period include strategic collaborations, biometrics adoption, drone detection and mitigation, cybersecurity integration, multi-modal security.

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Market Segmentation:
The main types of technologies in the airport security market are access control, cybersecurity, perimeter security, screening and scanning, surveillance, real-time locating systems (RTLS), and others. Access control refers to a data security process that enables organizations to manage authorized people to access corporate data and resources. Secure access control uses policies that verify users and ensure control access levels that are granted to users. Also, helps in easy access to data. It is further divided by system into metal detectors, fiber optic perimeter intrusion, backscatter x-ray systems, cabin baggage screening systems, and others. The various application includes a civilian and commercial airport and military airport. These are used to protect civil aviation from acts of unlawful interference such as terrorism, and sabotage.

Major Driver - Growing Airport Infrastructure Expansion And Modernization Driving Airport Security Market
The increase in new airport building operations and facilities improvements is contributing to the growth of the airport security market. 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. It will also strengthen the terminals' security and reduce any potential hazard to the numerous stakeholders on-site. Therefore, the increase in new airport building operations and facilities improvements will drive the growth of the airport security market.

Competitive Landscape:
Major companies operating in the airport security market include American Science and Engineering Corp., Bosch Corporation, CEIA S.p.A., Hitachi Electronic Devices (USA) Inc., L-3 Communications Holdings Inc., Lockheed Martin Corporation, OSI Systems Inc., Safran Morpho Inc., Siemens AG, Smiths Detection Inc., Auto Clear LLC, Analogic Corporation, Bruker Corporation, Nuctech Company Ltd., MilliVision Technologies LLC, G4S Secure Solutions (USA) Inc., Securitas AB, Covenant Aviation Security LLC, ICTS Europe Holdings BV, Allied Universal Corporation, SM Group (America) Inc., Vantage Airport Group Ltd., Rapiscan Systems Inc., L3Harris Technologies Inc., IDEMIA Identity & Security USA LLC, Argus Global LLC, Clear Channel Airports Inc., Leidos Inc., Vision-Box Inc., Rohde & Schwarz USA Inc.

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Top Trend - Technology Advancements For Enhanced Aviation Security
Major companies in aircraft security are focusing on advancements in technology such as Advanced security technologies to gain a competitive advantage and enhance their product offerings. Advanced security technologies, such as biometrics, AI, and machine learning, improve the detection of potential threats, including weapons, explosives, and hazardous substances. For instance, in May 2023, Cincinnati/Northern Kentucky International Airport, a US-based public international airport launched new technology at security checkpoints to enhance security and improve the passenger experience. The new technology is called Credential Authentication Technology (CAT), which is a security game changer that ensures ID authentication, reservation verification, and Secure Flight pre-screening status are known in "near" real-time at the airport security checkpoint. CAT is an effective tool for TSA officers, providing enhanced fraudulent ID detection capabilities while confirming the identity and flight information of travelers.

The Table Of Content For The Market Report 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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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