PUBLISHER: The Business Research Company | PRODUCT CODE: 1390972
PUBLISHER: The Business Research Company | PRODUCT CODE: 1390972
“Airport Security Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on airport security market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for airport security? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The airport security market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Airport security encompasses the procedures and methods employed to safeguard passengers, personnel, aircraft, and airport property from various potential harms, including accidents, malice, crime, and other dangers. It constitutes a comprehensive set of measures, utilizing both human and material resources, aimed at protecting civil aviation from acts of unlawful interference such as terrorism, sabotage, threats to life and property, false threat communications, and bombings. The goal is to mitigate these risks through the implementation of various scanning methods.
The main types of technologies in the airport security market include access control, cybersecurity, perimeter security, screening and scanning, surveillance, real-time locating systems (RTLS), and others. Access control involves a data security process that enables organizations to manage authorized individuals' access to corporate data and resources. Secure access control utilizes policies to verify users and ensure controlled access levels, facilitating easy and secure data access. This category is further divided by systems, including metal detectors, fiber optic perimeter intrusion, backscatter X-ray systems, cabin baggage screening systems, and others. These technologies find applications in civilian and commercial airports as well as military airports, aiming to protect civil aviation from acts of unlawful interference such as terrorism and sabotage.
The airport security market research report is one of a series of new reports from The Business Research Company that provides airport security market statistics, including airport security industry global market size, regional shares, competitors with an airport security market share, detailed airport security market segments, market trends and opportunities, and any further data you may need to thrive in the airport security industry. This airport security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The airport security market size has grown rapidly in recent years. It will grow from $15.52 billion in 2023 to $17.45 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. The growth observed in the historical period can be attributed to factors such as the presence of terrorism threats, the need for regulatory compliance, an increase in passenger volume, the impact of globalization, and ongoing infrastructure development in the aviation sector.
The airport security market size is expected to see rapid growth in the next few years. It will grow to $27.31 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The anticipated growth in the forecast period can be attributed to the increasing frequency of cybersecurity attacks, the ongoing digitization of airports, growing investments in the aviation sector, the rise in tourism, and increased trade activities. Key trends expected in this forecast period include strategic collaborations in the security domain, the adoption of biometrics for enhanced security measures, efforts in drone detection and mitigation, the integration of cybersecurity measures, and the implementation of multi-modal security approaches in airport security.
In the market of airport security, the rise in new airport construction projects and enhancements in facilities is a driving factor. Improvements in airport infrastructure and operational facilities are crucial, catering to the surge in air traffic and the need to modernize infrastructure to meet increased demand. Notably, in May 2021, Raytheon Technologies secured a significant $318 million contract from the U.S. Transportation Security Administration. This agreement involves deploying checked baggage screening machines across 430 federally managed airports in the United States, significantly enhancing security measures at terminals and safeguarding all airport stakeholders.
The aircraft security market is experiencing growth driven by the expanding air travel landscape. With the surge in air travel, the industry has placed significant emphasis on securing aircraft, passengers, and assets. Notably, as of February 2023, North American carriers observed a notable 67.4% surge in air traffic compared to the corresponding period in 2022, reflecting the escalating demand for air travel and the subsequent focus on ensuring robust security measures.
Leading companies in the aircraft security sector are emphasizing technological advancements to enhance their competitive edge. Advanced security technologies, such as biometrics, AI, and machine learning, are pivotal in heightening threat detection for weapons, explosives, and hazardous materials. Cincinnati/Northern Kentucky International Airport introduced a pioneering technology known as Credential Authentication Technology (CAT) in May 2023. This innovative solution enhances security at security checkpoints by offering real-time verification for traveler identification, reservation status, and Secure Flight pre-screening, strengthening ID authentication and fraud detection capabilities for TSA officers.
Prominent players in the aircraft security sector are strategically focusing on the development of integrated security solutions tailored for the aviation industry. These holistic and interconnected systems encompass various technologies and strategies, aimed at bolstering safety, security, and operational efficiency within airports and the broader aviation sector. In a notable instance, Leidos, a prominent U.S.-based security technology provider, introduced its cutting-edge enterprise software platform, ProSight, in October 2023. This innovative solution offers centralized security management capabilities to airports and high-risk commercial entities, showcasing an open architecture software engineered to optimize performance, maintainability, and scalability while reducing development time and costs. ProSight's OpenAPI fosters seamless connectivity with various device types and data sources, elevating security standards within the aviation industry.
An acquisition move in the industry transpired in April 2021 when Allied Universal, a distinguished U.S.-based security and facility services company, acquired G4S plc for a substantial $4 billion (£3.8 billion). This strategic acquisition underscores Allied Universal's commitment to delivering enhanced value propositions and services to customers in the security sector. G4S, a prominent UK-based security company, specializes in offering a wide range of security services and solutions to its clientele.
Major companies operating in the airport security market include American Science and Engineering Corp., Bosch Corporation, CEIA S.p.A., Hitachi Electronic Devices (USA) Inc., L-3 Communications Holdings Inc., Lockheed Martin Corporation, OSI Systems Inc., Safran Morpho Inc., Siemens AG, Smiths Detection Inc., Auto Clear LLC, Analogic Corporation, Bruker Corporation, Nuctech Company Ltd., MilliVision Technologies LLC, G4S Secure Solutions (USA) Inc., Securitas AB, Covenant Aviation Security LLC, ICTS Europe Holdings BV, Allied Universal Corporation, SM Group (America) Inc., Vantage Airport Group Ltd., Rapiscan Systems Inc., L3Harris Technologies Inc., IDEMIA Identity & Security USA LLC, Argus Global LLC, Clear Channel Airports Inc., Leidos Inc., Vision-Box Inc., Rohde & Schwarz USA Inc.
North America was the largest region in the airport security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the airport security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the airport security market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The airport security market consists of sales of airport security baggage screening including x-ray systems, computed tomography systems, explosive detection systems, metal detectors and physical search. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.