Global Airport Security Solutions Market 2016-2024: Industry To Grow At A CAGR Of 5.1% During Forecast Period

Rising need for intelligent security solutions to protect travelers, assets, and infrastructure amid emerging multifaceted threats, has significantly augmented the demand for airport security solutions

Global airport security solutions market is expected to expand at a compound annual growth rate (CAGR) of 5.1% over the forecast period i.e. 2016-2024.

Market Landscape

Growing air passenger traffic and volume led the airport authorities to adapt to the requirements and to become more active towards moving aviation dynamics. The primary aim of the smart airports across the globe is to make systems connected, intellectual and uncomplicated access by everybody. Approximately two third of the airports across the globe are planning major IT developments in passenger effortless self-service solutions with precise smart security solutions to cope up with the emerging need for smart security solutions with growing passenger traffic. More than38% airports around the world will be incorporated by the digital technologies such as interactive way findings, smart tracking of passengers and smart check-in services.Many major international airports have adopted advanced security technologies to advance their security needs. For instance, the self-service check-in kiosk systems were installed at the London Heathrow Airport not only enhance passenger traveling experience but also to expedite the screening process precisely.

Airport Security Solutions Market Outlook, 2016-2024 covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, the competitive analysis includes the in-depth analysis of the major players and leaders in airport security solutions industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler, and others. Our primary research team conducted various interviews, surveys and group discussions of industry professionals, airport security solutions manufacturers, aftermarket vendors and component suppliers to analyze the future prospects of the overall airport security solutions industry.

Global Airport Security Solutions Market Segmentation can be classified on the basis of:-

  • By Technology Type
    • Access control
    • Cybersecurity
    • Perimeter security
    • Screening
    • Surveillance
  • By Component Type
    • Software
    • Hardware
    • Services
  • By Geography
    • North America (US, Canada) {Market Share (%), Market Size (USD Billion)}
    • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion)}
    • The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) {Market Share (%), Market Size (USD Billion)}
    • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion)}
    • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion)}

 

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Airport Security Market – Trends, Drivers, and Challenges

Megatrends such as rapid urbanization and globalization in today’s world continue to influence on society through the ever-growing mobility of air passenger and goods. The major challenge for airports as entryways to the extensive world is to proficiently accommodate the hassles of the escalating passenger and cargo traffic. In addition to this, guaranteeing the complete safety and security of passengers, staff, airport possessions and structure remains a major concern at all times.Passenger traffic across the globe is swelling with 5% Y-O-Y growth coupled with rising IT expenditure by the airport authorities to lower their operating expenditures and to implement advanced technologies will significantly fuel the growth of global airport security solution market. However lack of funding and delayed airport development projects are some major challenges affecting the growth of smart airport security solution market. For instance approximately USD 20.0 billion average annual funding required for U.S. airports, which is expressively higher than the funding accessible through annual AIP grants and airport generated net revenue. It shows, existing authorized funding system cannot meet U.S. airport infrastructure needs for updating and expanding airport capacity which is important for a safe, effective and globally competitive aviation system.

Global Airport Security Solutions Market Report has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes Porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. The global airport security solutions market report also recognizes value chain analysis to understand the cost differentiation to provide a competitive advantage to the existing and new entry players. 

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