Airport Security Market Share And Detailed Analysis Focusing On Key Players | Fortune Business Insights
The report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regions, the market in Asia Pacific currently holds the largest market share. The global airport security market size is projected to reach USD 11.45 billion by the end of 2027. The increasing number of air travels will bode well for the market in the coming years.
The rising air traffic in countries such as India, China, and Japan will bode well for the growth of the regional market. Moreover, massive investment in the development of efficient equipment will aid the growth of the market in this region. Besides this, the massive population and an increasing number of air passengers and flight travels will create several opportunities for market growth.
The market in North America will witness considerable growth due to the adoption of technologically advanced systems in the United States. The increasing air travels and flights inwards and outwards of the United States will also aid the growth of the market in this region. As of 2019, the market in North America was worth USD 3.82 billion, and this value is projected to increase further in the coming years.
Airport security systems are used to ensure security and safety at airports as well as subsequent flight travels. The increasing awareness regarding security has created several opportunities for companies operating in the market. The emphasis on airport security has risen dramatically over the past few years. Technological advancements in the equipment associated with security checks will have a huge impact on the growth of the overall market in the coming years.
The ability of security checks at airports to prevent huge security threats and potential terrorist attacks will bode well for the companies operating in the market. The high investment in the development of efficient security systems will emerge in favor of the growth of the market in the foreseeable future.
List of companies profiled in the report:
- American Science and Engineering Inc.
- Axis Communication AB
- FLIR Systems
- Hitachi Limited
- Honeywell International Inc.
- L3Harris Technologies Inc.
- Raytheon Company
- Robert Bosch GmbH
- Siemens AG
- Smiths Detection Inc.
- Thales Group
- Westminister Group Plc.
Industry Developments:
June 2019 – OSI Systems, Inc. announced that it has received a contract from the US Navy. Under this contract company will provide comprehensive service and maintenance support for Rapiscan baggage and parcel checkpoint inspection systems installed at correctional facilities and detection centers.
April 2019–Thales Group announced that it has completed the acquisition of Gemalto. Through this acquisition, the company plans to strengthen its portfolio of digital security services.
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