Press release
Explosive Growth Forecast for Global Airport Security Market: Anticipated CAGR of 11.4% Leading to $29.56 billion by 2029
Airport Security Market
Amplifying concerns about security threats along with burgeoning air travel accentuate the rapid growth and development in airport security across the globe.
What Is The Projected Market Size Of The Global Airport Security Market And Its Growth Rate?
The global airport security market is projected to undergo a significant growth:
• Current Market Size: $17.11 billion in 2024
• Projected Market Size: $19.21 billion in 2025 (12.2% CAGR)
• Expected Market Size: $29.56 billion by 2029 (11.4% CAGR)
Factors such as the threat of terrorism, regulatory compliance, increased passenger volume, and infrastructure development are driving the market's growth.
What Is Driving The Growth In The Airport Security Market?
The growth of the airport security market is propelled majorly by the increase in new airport building operations and facilities improvements. The growing population, air traffic, and the demand for modernization of infrastructure have shot up airport building operations which contribute significantly to the growth of this market. As a case in point, in January 2024, more than 5,200 public airports in the United States are being expanded and modernized as reported by Webuild, an Italy-based construction company, to accommodate the growing demand for air travel. Thus, enhancing the growth of the airport security market.
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Who Are the Key Players Driving Airport Security Market Growth?
• 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.
What Are The Key Trends In The Airport Security Market?
Key trends in the airport security market include:
• Strategic collaborations
• Biometrics adoption
• Drone detection and mitigation
• Cybersecurity integration
• Multi-modal security
What Are The Segments Of The Global Airport Security Market?
1) By Technology: Access Control, Cybersecurity, Perimeter Security, Screening and Scanning, Surveillance, Real-Time Locating System (RTLS), Other Technologies
2) By System: Metal Detectors, Fiber Optic Perimeter Intrusion, Backscatter X-Ray Systems, Cabin Baggage Screening Systems, Other Systems
3) By Application: Civilian and Commercial Airport, Military Airport
Which Region Leads The Airport Security Market?
In 2024, North America was the largest region in the airport security market. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period. The airport security market report covers Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Airport Security Market Global Market Report?
- Market Size Analysis: Analyze the Airport Security Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Airport Security Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Airport Security Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Airport Security Market .
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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