The global airport security market size is expected to reach USD
12.70 billion by 2022, according to a new report by Grand View Research, Inc.
National security is of vital importance at critical infrastructures such as
airports. In recent years, the policy and aim of many authorities has shifted
from potential threat identification to deploying measures that prevent
infiltration of any type of threats into the infrastructure. Demand for quicker
and efficient screening has culminated in the design and development of
advanced screening systems that are being employed worldwide.
The
rapid pace of new construction activity at airports and need to streamline
security screening process in order to minimize waiting time for passengers
also serve as key drivers for market growth. However, economic turmoil and lack
of funds for public spending new development and construction, as well upgrade
of existing airports. In addition, effectiveness of existing security equipment
in combating threats and lack of a tangible return on investment has
discouraged operators from purchasing new technology solutions. Existing
retrofits and shift towards automated security solutions as an alternative to
human labor is expected to provide market growth opportunity over the coming
years
U.S. airport security market share by
technology, 2012 – 2022 (USD Million)
International
and domestic legislations have fueled the procurement of security technologies.
Organizations such as the TSA and European Civil Aviation Conference (ECAC)
establish security standards and oversee their adherence. Airports are
subjected to numerous threats including robbery, arson, cyber-crime, terrorism,
and vandalism. Terrorist attacks are the most critical threat in public view;
therefore, technologies enabling security are of prime importance for ensuring
public safety.
To view summary of this report, click the link
below:
www.grandviewresearch.com/industry-analysis/airport-security-market
www.grandviewresearch.com/industry-analysis/airport-security-market
Further key findings from the report suggest:
·
Cyber security solutions are expected to witness
fastest market growth over the forecast period owing to technology trends such
as IoT, Big Data, cloud storage and adoption of smart solutions. Airport
screening systems continue to dominate the industry with over 45% revenue share
in 2014.
·
North American airport security market accounted
for about 35% of the overall share in 2014 owing to the presence of key players
in the region coupled with a large number of new construction and upgrade
activity. Government spending and regulatory mandates continue to drive growth
across regions
·
The global airport security market is diversified
and competitive in nature. A large number of companies specialize in the
provision of unique solutions from screening to cyber security. The global
airport security screening market is consolidated in nature; key vendors
including Safran Morpho, Smiths Detection, L-3, OSI Systems (Rapiscan) and
American Science & Engineering accounted for around 50% of the overall
share in 2014.
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Research at:
Grand View Research has
segmented the airport security market on the basis of technology and region:
Airport Security Technology Outlook (Revenue, USD Million, 2012 – 2022)
·
Access control
·
Cyber security
·
Perimeter security
·
Screening
·
Surveillance
·
Others
Airport Security Regional Outlook (Revenue, USD
Million, 2012 – 2022)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
View press release of this research report by
Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
