Airport Security Market size worth USD 12.83 Billion by 2023: Global Market Insights Inc.

“Airport security screening market is consolidated in nature, notable companies include Safran Morpho, Smiths Detection, L-3 Security & Detection, OSI Systems (Rapiscan), and American Science & Engineering.”
Market Size – $ 8.82 bn in 2015, Market Growth – CAGR of 4.6%, Market Trends – High focus on R&D and technological innovation

Global Market Insights Inc. has announced the release of a new research report on Airport Security Market Size which is forecast to register USD 12.83 billion by 2023. The report covers in-depth analysis of the market with segmentation based on technology, region, and competitive scenario. It also features key factors that influence the market including drivers, obstacles, challenges, prospects and key trends.

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New investments in the market, advanced technologies in screening, big data, and integration markets are driving upgrades. Furthermore, cyber security is also projected to exhibit the significant growth at the faster pace during the predicted time frame. An initiative by governments to tighten safety measures concerning criminal attacks and terrorism is likely to influence the market. Further, new rules about screening can also impact the new technology solutions in airport security market trends.

The need for system upgrade and maintenance due to growing number of threats demands technology advancement to provide greater efficiency.  This increased security need impels growth encouraging technology providers to roll out integrated and intelligent security solutions and stimulate additional airport efficiencies. Moreover, strategic partnerships and acquisitions play a vital role to success for companies in this arena.

Budgetary constraints of advanced technologies, economic turmoil may hamper the airport security market growth. The aviation security surveillance segment is forecast to exhibit growth over the predicted period. IP cameras are gaining popularity and will completely replace analog systems soon.  

Browse key industry insights spread across 90 pages with 39 market data tables & 35 figures from the report, “Airport Security Market Size By Technology (Perimeter Security, Cybersecurity, Surveillance, Screening, Access Control), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, China, India, Japan, ANZ, Brazil, Mexico, KSA, UAE, Africa), Application Potential, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents:

The report analyzes highly competitive industry with some key players profiled in the report. Investment in R&D to develop reliable and credible solution and product offering is a key strategy for competitors.

The global aviation security industry, technologies, and markets are undergoing a significant shift. The U.S. airport security market size is tipped to surpass USD 3.5 billion by 2023. The Middle East market segment will also propel global growth by 2023. China is also projected to witness significant growth owing to growing infrastructure development and passenger volumes.

Key drivers of the market:

  • The rising importance of improved aviation security
  • Advanced security infrastructure and screening technologies
  • The global air passenger volume growth
  • Rapid growth of APAC aviation sector ( new airports and upgrades)
  • The moderate growth of the air transport industry in other regions.
  • The need to restructure aviation security processes and decreased waiting time for passengers.


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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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