Visiongain has published a new report on Global Airport Security Market Report Forecast 2020-2030. Forecasts by System (Biometric System, Alert and Cyber Security System, E-fence and Ground Surveillance Radar System, E-tag System, Others) by Application (Surveillance, Access Control, Perimeter Security, Screening, Cyber Security, Others) by End-User (Terminal Side, Air Side, Land Side) PLUS Profiles of Leading Airport Security Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
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Global airport security market was valued at US$ 9,900 million in 2019 and is projected to reach at a market value of US$21,855.6 million by 2030. The rapid speed of new airport construction operation and the need to streamline the security screening process to reduce passenger waiting times both function as main factors for business development. Nonetheless, global instability and shortage of funds for urban growth and expansion of public infrastructure, as well as upgrade of established airports. Furthermore, the reliability of current defense hardware in the battle against threats and lack of a meaningful return on investment has prevented operators from buying modern technologies. Present retrofits and changes to digital protection systems are projected to have industry development prospects over the coming years as an alternative to human labor.
As airline bookings plummet in response to rules, and company limits on travel rise, the COVID-19 pandemic plunged the global airline industry into an unparalleled crisis. Priority number one for corporations and policymakers is safeguarding customer and employee wellbeing. Continued decreases in air traffic would most likely (and necessarily) continue for a sustained time to accomplish this goal. The International Air Travel Association reports that a cash injection of up to $ 200 billion and loan guarantees to survive the global buffeting would be needed for the industry.
The acquisition of defense equipment was driven by foreign and domestic regulations. Organizations such as the TSA and the European Civil Aviation Conference (ECAC) set and monitor their commitment to safety criteria. Airports pose multiple challenges from theft, burglary, cyber-crime, extremism, and vandalism. Terrorism threats remain the most important danger from a global perspective; thus, security-enabling innovations are of vital significance for maintaining public safety. This in turn is expected to increase airport security market concentration over the forecast period.
The rising in new airport building operations and facilities improvements tends to give the industry lucrative opportunities. However, the protection law is continuously being revised and modified to comply with any terrorism or illegal conduct. For example, in reaction to the behaviour of the 2013 gunman assault on a TSA officer at LAX International, the U.S. law enacted on 16 September 2015 mandates that all U.S. airports have defined protocols to respond to the active shootings. Accordingly, operators around the globe have been forced to constantly upgrade their protection practices in compliance with regulatory standards and keep up-to - date with the new technological solutions.
The fear of terrorist acts and extremism also remains the primary factor of the business. Training and servicing may function as crucial sales points for participants in the industry. Manufacturers have concentrated on developing smart and integrated solutions which improve production and speed requirements. Smart protection technologies are projected to play a key role in business growth due to the explosion of smartphones and IoT. Expansion and construction projects in the coming years provide attractive prospects for vendors.
The global airport security industry is highly fragmented in nature as large number of companies are operating in this industry. Some key manufacturers are Analogic Corporation, Bruker Corporation, CEIA SpA, G4S plc, L-3 Technologies, OT-Morpho (IDEMIA), Nuctech Company Ltd, OSI Systems Inc. / Rapiscan Systems Company, Securitas AB, Smiths Detection (Smiths Group Plc Division), SITA, Hitachi Ltd., Thales Group, The Brinks Co., Siemens AG, Magal S3, Opgal Optronics Industries Ltd, Human Recognition Systems, and Westminster Aviation Security Services Ltd.
Companies Profiled in the Report
The Brink's Co.
Magal Security Systems
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