Passenger Security Market 2024 : Global Industry Trends, Share, Size, Growth, Opportunity And Forecast To 2033

The new report published by The Business Research Company, titled Passenger Security Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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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.

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.

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

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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.

Contents of the report:
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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