PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1383336
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1383336
According to Stratistics MRC, the Global Airport Security Screening Systems Market is accounted for $37.35 billion in 2023 and is expected to reach $135.13 billion by 2030 growing at a CAGR of 20.2% during the forecast period. In order to ensure the safety and security of travelers, their belongings, cargo, and airport staff within airport facilities, a wide range of security technologies and equipment are developed, generated, deployed, and maintained by a global industry known as the airport security screening systems market. These devices are intended to identify and stop the entry of prohibited objects, weapons, and explosives into airport terminals and onto aircraft.
According to International Air Transport Association (IATA), passenger traffic grew by 4.2% during 2019.
Airports need to manage the growing volume of passengers while upholding strict security regulations as the number of people traveling by air continues to rise. A growing number of travelers' needs for safety have increased demand for sophisticated security screening systems that can quickly and accurately identify any threats. Additionally, these technologies improve security while also accelerating passenger processing, cutting down on wait times, and improving the overall travel experience.
Implementing and maintaining modern security measures necessitates a significant financial investment. The cost is associated with the acquisition of cutting-edge equipment such as body scanners, explosive detection devices, and biometric identification systems. Apart from the cost of the technology, there are installation costs, which frequently require major infrastructure upgrades and connections with current airport systems. However, ongoing costs also include staff training, as competent employees are necessary to operate and maintain these sophisticated systems, as well as regular maintenance and service to ensure reliable performance.
The need for more sophisticated and effective screening systems has risen significantly as security threats have evolved and obtained more complex. Modern innovations like enhanced X-ray machines, explosives detection programs, and biometric identity have completely changed how airports guard their infrastructure and keep travelers safe. Moreover, these developments not only improve security but also boost productivity and passenger comfort, cutting down on wait times and improving the whole travel experience. Airports and security organizations are always investing in state-of-the-art technology in order to keep ahead of any threats, adhere to changing rules, and handle new security issues.
With the advancement of modern technology, these systems frequently include the collection and analysis of large amounts of passenger data and personal information, raising issues about individual privacy and data security. Passengers may be concerned that their personal information, such as biometric data and scanned photographs, would be mismanaged, viewed without their permission, or potentially misused. Balancing the need to increase security while protecting passengers' privacy rights creates a difficult challenge for airport officials and governments.
Airports were forced to alter their security screening systems as the global aviation industry experienced a significant fall in passenger numbers and increased health concerns. On the one hand, there was a desire for improved health and safety measures, such as social distancing and contactless encounters, necessitating changes to security processes and equipment. However, many airports suffered financial restrictions due to decreased income, making it difficult to invest in costly security measures.
Baggage Handling Systems commanded the largest share over the forecast period. These systems are critical in ensuring the efficient and secure handling of checked luggage for passengers. BHS is a network of interconnected conveyor belts, sorting systems, and screening technology used to transfer luggage from the check-in counter to the aircraft hold while passing through security procedures. To discover forbidden items or potential hazards inside the baggage, they use various screening technologies, including X-ray scanners and explosive detection systems (EDS).
Biometric Identification and Verification segment is expected to have the highest CAGR during the forecast period, as it employs biometric technology to improve passenger and personnel authentication and streamline security operations. To confirm an individual's identity, biometric identification systems use unique physiological or behavioral traits such as fingerprints, facial recognition, iris scans, or even voice recognition. Moreover, these systems are used in airports for a variety of functions, including passenger check-in, access control, and immigration procedures. They increase security by eliminating the need for traditional identification techniques such as ID cards and boarding passes, which can be counterfeited or stolen.
Asia Pacific region commanded the largest share over the forecast period. With the region's thriving aviation industry, rising air travel demand, and the construction of new airports and expansion of existing ones, innovative security screening technologies are in high demand. Moreover, governments throughout Asia Pacific are enforcing strict security rules and encouraging the use of cutting-edge technologies to protect passenger safety.
The Asia-Pacific region is expected to experience profitable growth as international travel increases, demanding compliance with global security standards. The region is additionally characterized by its enormous population and different cultures, which create unique security screening problems. Moreover, adoption of biometric identification, artificial intelligence, and improved X-ray technology is increasing to overcome these difficulties.
Some of the key players in Airport Security Screening Systems market include: L3Harris Technologies, Smiths Group plc, Rapiscan Systems , Nuctech Company Limited, Analogic Corporation, Astrophysics, Inc, ADANI Systems and Rohde & Schwarz.
In August 2023, Smiths Group plc, the British multinational diversified engineering business, has acquired Heating & Cooling Products (HCP), a US-based manufacturer of HVAC solutions, for $82m (£65m). Smiths Group's sees the acquisition expanding its presence in the North American HVAC market, with HCP being integrated into its Flex-Tek flexible ducting business.
In March 2023, Hill & Smith Holdings has expanded its US presence with the acquisition of a galvanizing company in a deal worth £9.4m, with the manufacturing giant also reporting a more than £100m surge in revenue for its latest financial year.