2024 Global Passenger Security Market Size, Share, Trends And Growth Analysis Report | Honeywell International Inc., Indra Sistemas S.A., Robert Bosch GmbH, Teledyne FLIR LLC

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Passenger Security Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $8.32 billion In 2028 At A CAGR Of 6.0% :

The passenger security market size has grown strongly in recent years. It will grow from $6.18 billion in 2023 to $6.59 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to impact of security incidents, public awareness and demand for security, evolution of passenger screening methods, shift in security strategies, introduction of screening protocols.

The passenger security market size is expected to see strong growth in the next few years. It will grow to $8.32 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to increased air travel, focus on threat detection, adoption of biometric solutions, global events impacting security, health screening integration. Major trends in the forecast period include threat intelligence and information sharing, biometric identification, enhanced screening technologies, behavioral analytics, integration of ai and machine learning.

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Passenger Security Market Major Segments
The passenger security market covered in this report is segmented -

1) 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
2) By Investment: New Demand, Replacement Demand
3) By End User: Commercial Airports, Seaports, Railway Stations

Key Driver - Surge In Passenger Traffic Fueling Growth In The Passenger Security Market

Rising passenger traffic is expected to propel the growth of the passenger security market going forward. Passenger traffic refers to the total number of passengers traveling in a vehicle, such as a bus, boat, or airplane, from one place to another via any transport medium. 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. Over the same period, the number of airline seats climbed by 32%. Further, in April 2023, according to Eurostat statistics, the statistical office of the European Union, rail passenger travel in the EU recovered partially in 2021, increasing by 16.5% over 2020. Therefore, an increase in passenger traffic is driving the growth of the passenger security market.

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Prominent Trend - Advanced Scanning Technology Transform Passenger Security Market Presence

Technological advancement is the key trend gaining popularity in the passenger security market. 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. The C3-compliant HELIXVIEW scanner (the next EDS CB standard) combines electronic scanning based on X-ray nanotechnology with 3D image reconstruction. It also uses Thales' expertise in artificial intelligence (AI) and cybersecurity to develop an innovative and affordable solution for airports.

Passenger Security Market Players
Major companies operating in the passenger security market report are Honeywell International Inc., Indra Sistemas S.A., Robert Bosch GmbH, Teledyne FLIR LLC, Autoclear LLC, Smiths Detection Group Limited, Adani Systems Inc., Advanced Perimeter Systems Limited, SITA - Société Internationale de Télécommunications Aéronautiques, Navtech Radar Ltd., NEC Corporation, OSI Systems Inc., Thales Group, Swissport International AG, Wabtec Corporation, Securitas Transport Aviation Security Ltd., G4S plc, ICTS Europe Systems BV, Allied Universal Security Services LLC, Prosegur Compañía de Seguridad S.A., Brink's Company, ADT Inc., Secom Co. Ltd., American Airlines Group Inc., Delta Air Lines Inc., United Airlines Holdings Inc., Southwest Airlines Co., Air France-KLM SA, Deutsche Lufthansa AG, The Emirates Group, Qatar Airways Group Q.C.S.C., Cathay Pacific Airways Limited, Singapore Airlines Limited, Japan Airlines Co. Ltd., Korean Air Lines Co. Ltd., China Southern Airlines Company Limited, Air China Limited, Turkish Airlines Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the passenger security market in 2023. The regions covered in the passenger security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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

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