Airport Security Market to be Worth $25.27 Billion by 2031

 

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Airport Security Market by Offering (Systems (X-Ray Machines, Metal Detectors, Surveillance Systems, Biometric Devices, Others), Services), Application (Access Control, Perimeter Security, Scanning & Screening, Others), and Geography - Global Forecast to 2031’

According to this latest publication from Meticulous Research^®, the airport security market is projected to reach $25.27 billion by 2031, at a CAGR of 8.6% from 2024 to 2031. Some of the major factors driving the growth of this market are stringent government regulations for airport security and the growing number of air passengers. In addition, increasing investment in airport security is expected to offer significant opportunities for the growth of this market. Difficulty in upgrading existing security systems and the high cost of airport security systems can restrain the growth of this market.

The airport security market is segmented by offering and application. The study also evaluates industry competitors and analyses the regional and country-level markets.

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Based on offering, the airport security market is broadly segmented into systems and services. In 2024, the systems segment is expected to account for the larger share of the global airport security market. The large market share of this segment can be attributed to factors such as the increasing investments in advanced technology at airports and the increasing initiatives aimed at implementing top-tier security measures at airports.

Some of the recent developments in the market space:

·  In March 2023, The Central Industrial Security Force (CISF), a federal police organization in India under the Ministry of Home Affairs, announced that it would be deploying full-body scanners at airports in India to facilitate modernized security systems and passenger convenience.

·  In January 2023, logistics automation firm Vanderlande (Netherlands) installed its first PAX MX2 security screening system at Frankfurt Airport in Germany.

Moreover, the systems segment is expected to record the highest CAGR during the forecast period. Increasing adoption of airport security systems and the growing focus of key players on product development and enhancement is expected to drive the segment growth. For instance, in November 2023, Huawei Technologies Co., Ltd. (China) launched a series of brand-new smart airport solutions for international markets, including the Fully Connected Fiber Network Solution and Smart Airport Perimeter Security with Fiber Sensing Solution. In another instance, in October 2023, Leidos (U.S.), a science and technology company, launched ProSight™, its newest enterprise software platform, which provides airports and commercial organizations with high-risk points of entry with a centralized security management system.

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Based on application, the airport security market is segmented into access control, perimeter security, scanning and screening, surveillance, and other applications. In 2024, the scanning and screening segment is expected to account for the largest share of the global airport security market. The large share of this segment is mainly attributed to the rising deployment of security systems to prevent prohibited items and other threats to transportation security from entering the sterile area of the airport, increasing investment in airport scanning and screening systems to improve passenger experience, and focus of key players to develop innovating scanning and screening products.

·  For instance, In December 2023, Fort Lauderdale International Airport (U.S.) selected the R&SQPS Walk2000 walk-through scanner to increase security and provide a streamlined walk-through security experience at its employee screening checkpoints.

·  In October 2023, Denver International Airport (DEN) made an additional investment in Rohde & Schwarz QPS201 body scanners to improve passenger security screening at the Jeppesen terminal’s south checkpoint.

·  In May 2022, the Asian Development Bank (ADB) (Philippines), in partnership with UNICEF (U.S.), installed 61 new thermal scanners for screening passengers at ports and airports.

However, the access control segment is expected to record the highest CAGR during the forecast period. Growth of the segment is driven by the rising adoption of access control systems at airports to investigate security incidents or breaches and help improve security protocols. For instance, in December 2021, Kuala Lumpur International Airport (KUL) installed more than 100 biometric-enabled self-service touchpoints from air transport industry IT provider SITA.

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Based on geography, the airport security market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the airport security market. North America’s major market share can be attributed to the increased spending on technology by airports, rising funding by the government to improve airport safety and security, and the growing deployment of airport security systems at the airport.

Some of the recent developments are as follows:

·  In May 2023, The U.S. Transportation and Safety Administration (TSA) installed its first automated biometric screeners at the busy Baltimore Washington International Airport (BMI), raising privacy concerns among advocates and U.S. lawmakers.

·  In April 2023, The Transportation Security Administration (TSA) announced its latest investment of up to 1.3 billion USD in computed tomography (CT) scanners for U.S. airports. The announcement consists of three orders for up to 426 base, 359 mid-size, and 429 full-size CT units for deployment across TSA checkpoints.

·  In May 2022, Miami International Airport (MIA) announced its plans to implement biometric boarding for international flights across all of its 130+ gates in collaboration with SITA (Switzerland).

·  In February 2022, The Canadian government announced critical infrastructure funding for several airports, which will include security and safety improvements.

However, the Asia-Pacific region is expected to grow with the highest CAGR during the forecast period. The growth of the market is driven by the rising investment to modernize airport infrastructure, the growing need to ensure operational efficiency, and the rising deployment of security systems at the airports. For instance, in September 2021, South Korea-based Incheon International Airport Corporation (IIAC) signed a contract with Smiths Detection (U.K.) to install its explosives detection system (EDS) HI-SCAN 10080 XCT for hold baggage screening at Incheon International Airport (ICN) Terminal 2. In another instance, in February 2021, Singapore’s Changi Airport Group awarded a contract to Genetec (Canada), a technology provider of integrated security, business intelligence, public safety, and operations solutions, to upgrade its security system.

Key Players:

The key players operating in the airport security market are Teledyne FLIR LLC (U.S.), Leidos (U.S.), Honeywell International Inc. (U.S.), Robert Bosch GmbH (Germany), Siemens AG (Germany), Hart International (UAE), Covenant Aviation Security, LLC (U.S.), Collins Aerospace (U.S.), Smiths Group plc. (U.K.), Elbit Systems Ltd. (Israel), SITA (Switzerland), Rapiscan Systems (U.S.), Axis Communication AB (Sweden), Thales Group (France), Westminister Group Plc. (U.K) and among others.

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Key questions answered in the report:

·  Which are the high-growth market segments based on offering and application?

·  What was the historical market for industrial analytics?

·  What are the market forecasts and estimates for the period 2024–2031?

·  What are the major drivers, restraints, and opportunities in the airport security market?

·  Who are the major players, and what shares do they hold in the airport security market?

·  What is the competitive landscape like?

·  What are the recent developments in the airport security market?

·  What are the different strategies adopted by the major players in the airport security market?

·  What are the key geographic trends, and which are the high-growth countries?

·  Who are the local emerging players in the global airport security market, and how do they compete with the other players?

 

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