The Global Airport Security Systems Market, valued at around USD 10.71 billion in 2019, is expected to register a turnover of USD 17.43 billion by 2026, with a CAGR of almost 7.2% in the outlook period of 2020-2026.
Airport security includes various methods and techniques used to protect personnel, passengers, and aircraft from harm, threats, and other malicious and/or accidental crime. Airport security is the combination of material and human resources to protect civil aviation against illegal interference that includes acts of sabotage, terrorism, threats to property and life, communication of false threats, bombings, etc.
Bosch is equipping Changchun Airport with video surveillance, intrusion detection, public sound systems and an access control system.
Impact of COVID-19 on airport security systems market:
Following coronavirus, the size of the global airport security systems market is likely to expand with slow growth rate in the coming years, owing to the second wave of COVID happening in the European and North American nations.
Market Drivers and Restraints:
Systems and technologies used for airport security include devices like metal detectors, X-ray scanners, explosives detectors, 3D scanners, etc. They are also essential to avoid asset loss and business interruption. Explosives and intrusion detectors are used to prevent threats from cross-border terrorism, smuggling and drug trafficking. Likewise, the need to provide access control in critical areas has increased the demand for fixed surveillance and biometric identification systems at airports. The growing need for strict security to ensure passenger safety in critical situations is primarily driving the growth of this market. Additionally, strict government regulations aimed at strengthening airport security are helping the market grow. However, the high costs of installation and maintenance of security solutions are one of the main obstacles to the growth of this market.
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Report is segmented as:
By Security system:
Iris and retina recognition
Other biometric recognition
Screening and scanning systems
Perimeter intrusion detection systems
Fire safety systems
The 3D scanning segment is expected to grow at the highest rate during the foreseen period. This is due to several advantages, such as that these scanners can see through crowded bags and give drivers the ability to zoom in and rotate the bag for a 360-degree view. It also saves time as travelers don't have to remove electronics from suitcases.
Based on geography, the global airport security systems market is divided into regions of Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these regions, the Asia-Pacific is expected to generate the highest demand for airport security systems during the outlook period. Market growth is due to increased terrorist activity and increased investment in air infrastructure, driven by the surge in passenger air traffic in the area. China and India are the countries that spend the most on aviation infrastructure in the locale and experience the highest growth in air passenger traffic.
Key market players:
Major participants are American Science and Engineering Inc., Bosch, C.E.I.A SpA, Hitachi Ltd., L-3 Communications, Lockheed Martin, OSI Systems Inc., Safran Morpho, Siemens AG, and Smiths Detection.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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