PUBLISHER: The Business Research Company | PRODUCT CODE: 1414474
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414474
“Passenger 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 passenger 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 passenger security? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The passenger 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.
Passenger security encompasses a range of measures and protocols put in place to safeguard individuals traveling through diverse transportation modes such as air, rail, sea, or road. These security protocols aim to mitigate risks including terrorist threats, criminal activities, and other potential hazards that might jeopardize passenger safety or the integrity of transportation systems.
Various solutions constitute the landscape of passenger security. These include baggage inspection systems, video management systems, access control or biometric systems, cybersecurity solutions, hand-held scanners, full-body scanners, explosive trace detectors, walk-through metal detectors, perimeter intrusion detection systems, and bar-coded boarding systems. Baggage inspection systems employ imaging technologies to detect hazardous or prohibited items or substances within luggage. Equipped with high-resolution optical cameras and scanners sensitive to metallic objects and dangerous substances such as weapons, these systems play a pivotal role in enhancing security. Both new and replacement demands drive investments in these systems, catering to end users such as commercial airports, seaports, and railway stations.
The passenger security market research report is one of a series of new reports from The Business Research Company that provides passenger security market statistics, including passenger security industry global market size, regional shares, competitors with a passenger security market share, detailed passenger security market segments, market trends and opportunities, and any further data you may need to thrive in the passenger security industry. This passenger security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The passenger security market size has grown strongly in recent years. It will grow from $6.18 billion in 2023 to $6.59 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. During the historic period, growth can be credited to several factors. These include the influence of security incidents that prompted heightened awareness, thereby increasing the demand for enhanced security measures. The evolution of passenger screening methods played a pivotal role, adapting to changing security needs. Additionally, a shift in security strategies and the introduction of updated screening protocols contributed significantly to this growth trajectory. These collective elements shaped the advancements observed in passenger security during this period.
The passenger security market size is expected to see strong growth in the next few years. It will grow to $8.32 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period is underpinned by several key factors. The rise in air travel serves as a primary driver, amplifying the focus on threat detection and necessitating heightened security measures. The adoption of biometric solutions is poised to play a pivotal role in enhancing security protocols. Global events that impact security dynamics, alongside the integration of health screening measures, contribute to this growth trajectory.
Anticipated growth in passenger traffic is set to drive the expansion of the passenger security market. Passenger traffic denotes the collective number of travelers across various transportation modes, necessitating heightened security measures. Airport security measures are crucial in ensuring passenger safety during air travel. For instance, between January and April 2022, global air travel witnessed a 65% increase in passengers compared to the same period in 2021, with a simultaneous 30% surge in aircraft departures. Additionally, Eurostat statistics from April 2023 highlighted a 16.5% increase in rail passenger travel within the European Union, partially recovering from 2020. This surge in passenger traffic is a significant catalyst propelling the growth of the passenger security market.
The mounting incidences of terrorism play a pivotal role in bolstering the passenger security market. The rise in terrorist threats worldwide underscores the escalated risk and vulnerability to attacks, necessitating stringent security screening and protocols to safeguard air travel. According to the Global Terrorism Index 2022, terrorist attacks surged by 17% in 2021, reaching 5,226 incidents, driven by heightened violence in regions such as the Sahel and unrest in countries such as Afghanistan. The report highlighted Afghanistan, Iraq, and Somalia as the most severely affected by terrorism, with a 14% increase in fatalities resulting from these attacks. This surge in terrorism underscores the critical need for advanced passenger security measures.
Technological advancements emerge as a pivotal trend shaping the passenger security market. Leading companies in this sector are intensifying their focus on pioneering technologies to maintain their market positions. For example, Thales Group introduced HELIXVIEW in June 2022, an advanced Explosive Detection System for Cabin Baggage (EDS CB). HELIXVIEW integrates X-ray nanotechnology-based electronic scanning with 3D image reconstruction, leveraging artificial intelligence (AI) and cybersecurity expertise to offer innovative and cost-effective airport security solutions.
Major companies in the passenger security sector prioritize the development of innovative software solutions such as enterprise software platforms. These platforms serve to enhance threat detection capabilities, streamline operations, and fortify overall passenger security measures. For instance, Leidos launched ProSight in October 2023, an enterprise software platform designed for airports. ProSight unifies disparate systems such as security screening tools and threat detection algorithms, offering real-time actionable data through business intelligence dashboards. This integration facilitates enhanced operational efficiency and bolstered threat detection capabilities, contributing to heightened passenger security.
In October 2023, Security 101, a U.S.-based company specializing in comprehensive commercial security solutions, completed the acquisition of Advance Security Integration LLC. This strategic move is poised to bolster Security 101's regional footprint and consolidate the collective expertise of both entities. Beyond a mere business union, this acquisition symbolizes the amalgamation of shared values and aligned visions. Advance Security Integration LLC, a U.S.-based provider renowned for its security integration solutions, particularly in airport security and detection, now stands as an integral part of this collaboration.
Major companies operating in the passenger security market report are Honeywell International Inc., Indra Sistemas S.A., Robert Bosch GmbH, Teledyne FLIR LLC, Autoclear LLC, Smiths Detection Group Limited, Adani Systems Inc., Advanced Perimeter Systems Limited, SITA - Societe Internationale de Telecommunications Aeronautiques, Navtech Radar Ltd., NEC Corporation, OSI Systems Inc., Thales Group, Swissport International AG, Wabtec Corporation, Securitas Transport Aviation Security Ltd., G4S plc, ICTS Europe Systems BV, Allied Universal Security Services LLC, Prosegur Compania de Seguridad S.A., Brink's Company, ADT Inc., Secom Co. Ltd., American Airlines Group Inc., Delta Air Lines Inc., United Airlines Holdings Inc., Southwest Airlines Co., Air France-KLM SA, Deutsche Lufthansa AG, The Emirates Group, Qatar Airways Group Q.C.S.C., Cathay Pacific Airways Limited, Singapore Airlines Limited, Japan Airlines Co. Ltd., Korean Air Lines Co. Ltd., China Southern Airlines Company Limited, Air China Limited, Turkish Airlines Inc.
North America was the largest region in the passenger security market in 2023. The regions covered in the passenger security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the passenger security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The passenger security market consists of revenues earned by entities by providing passenger screening, aircraft security services, and cargo and baggage screening. The market value includes the value of related goods sold by the service provider or included within the service offering. The passenger security market also includes sales of X-ray scanners, metal detectors, and security screening equipment, which are used in providing passenger security services. 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.