Monday, 10 April 2017

Airport Security Market share to grow at 4.6% CAGR from 2016 to 2023

The research 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”, by Global Market Insights, Inc. says Airport Security Market size is set to exceed USD 12.8 billion by 2023; impelled by airport construction and upgrade activities.

Rising safety and passenger protection concerns due to increase in terrorist activities is expected to stimulate global airport security market size over the forecast period. Growing air traffic with the increasing air travelers owing to the time related factors and rising disposable income may contribute towards the industry demand. Increasing number of airports are investing in complex control & command (C2) and integration solutions due to the high level of security offered by such systems. Moreover, these systems provide greater situational awareness.

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Increasing investment to upgrade legacy or disparate systems may further drive the airport security market growth in the future. Infrastructure development and growing number of new airports in Asia Pacific region including India and China offers ample opportunities for the industry. Moreover, enhancement of security technology that offers operators with better situational awareness greater efficiency, and increased security is anticipated to contribute to the airport security market size.
Growing number of safety threats are compelling airports to become highly vigilant and are dictating the requirement for smarter security solutions. Such factors are driving investments towards the development of screening and identification technologies such as biometrics, RFID and prototype screening devices among others.

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Key insights from the report include:

·         Airport cybersecurity market accounted for over 20% of the global demand in 2015. Increasing terrorism, and smuggling of premium goods has propelled the segment growth. Growing demand for airline security to avoid the serious disruptions through cyber-attacks may enhance the airport security market revenue.

·         Screening technology was worth over USD 4 billion in 2015. Increasing adoption owing to the presence of the advanced features including metal detectors, X-ray machines and protection from sudden attack is fueling the technology demand. The ability to screen individuals and luggage to identify endangered material will positively impact the airport security market share.

·         Asia Pacific is anticipated to witness significant growth owing to the attractive India and China airport security market share and growth prospects. The region accounted for over 25% of the global revenue in 2015. Economic growth and improving infrastructure are driving demand for advanced security solution in the region. Middle East & Africa airport security market size is expected to witness notable growth due to the rise in the vulnerabilities and undesirable attacks in the countries including Saudi Arabia and the UAE.

·         Prominent players in the airport security market include Smiths Detection, Safran Morpho, OSI Systems (Rapiscan), L-3 Security & Detection, and American Science & Engineering. Other notable players include, Bosch Security Systems, AutoClear LLC, CEIA, and Lockheed Martin. Technological innovations and increase in R&D expenditure are among the key strategies adopted by participants to offer differential solutions to maximize market share.

·         Owing to the emerging new threats and stringent government regulations, airports need planning coupled with the obligatory infrastructure to drive actionable intelligence. Such developments have led to the shift towards IP based networked and integrated platforms. These platforms help airports to reduce overall IT associated cost and the requirement for training.

Browse key industry insights spread across 90 pages with 39 market data tables & 35 figures & charts from this 2017 report Airport Security Market in detail along with the table of contents:

Table of Contents

Chapter 1     Methodology & Scope

1.1     Research Methodology
1.1.1     Initial data exploration
1.1.2     Statistical model and forecast
1.1.3     Industry insights and validation
1.1.4     Research scope and assumptions
1.2     List of Data Sources
1.2.1     Secondary sources
1.2.2     Primary sources

Chapter 2     Executive Summary

2.1     Airport security market 3600 synopsis, 2012 – 2023
2.1.1     Business trends
2.1.2     Regional trends
2.1.3     Application trends

Chapter 3     Airport Security Industry Insights

3.1.    Market segmentation
3.2.    Industry size, forecast and growth expectations, 2012 - 2023
3.3.    Industry ecosystem analysis
3.3.1.    Vendor matrix
3.4.    Regulatory landscape
3.5.    Airport security market dynamics
3.5.1.    Growth drivers  Need to combat criminal activity  Growing passenger volume  Airport construction and upgrade activities
3.5.2.    Industry pitfalls and challenges  Budgetary constraints  Effective installed equipment base
3.6.    Key growth opportunities
3.7.    Porter's analysis
3.8.    Key competitor analysis, 2015
3.8.1.    Airport security screening company market share, 2015
3.8.2.    Company strategy overview
3.9.    PESTEL analysis

 About Global Market Insights

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