New York, United States , Jan. 19, 2023 (GLOBE NEWSWIRE) -- The Global Airport Security Market Size to grow from USD 16 billion in 2021 to USD 26 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 8.1% during the forecast period. These systems contain hardware and software equipment that provide monitoring, identifying, and preventing threats to commercial facilities. The increase in air travel and the number of passengers has significantly increased the necessity for reliable and effective security measures. In reaction to the possibility of terrorist and criminal attacks, several countries have reinforced their security protocols.
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Asia Pacific airport security market accounted for over 35% of revenue share in 2021 owing to the growing investments in airport security. With an increasing number of economical airline options, passengers in the region are preferring airways for traveling. The equipment utilised in airport security checks are called airport security systems. These tools are essential for protecting airports from threats like smugglers, terrorists, and thieves. The management of the airport must adhere to tight instructions given by the relevant governments of many nations and aviation organisations. The airport authorities had to rethink their security procedures for the airport and the safety of flights as a result of a number of aircraft hijacking incidents in previous decades. Finding ways to strengthen security measures while reducing the inconvenience to passengers is one of the key issues in airport security. Because of this, suppliers of airport security systems and equipment have been putting more effort into creating systems that are user-friendly while also enhancing airport and passenger security. Additionally, the market has turned its attention to this segment as a result of the increased demand for air travel and the increase in cyber security offences at airports. Over the projected period, it is anticipated that rising passenger traffic in the commercial aviation industry will fuel the market for airport security systems. In the next ten years, India and China are expected to account for an additional 44% of air passenger traffic, according to the international air transport Association.
In addition, the aviation industry is becoming increasingly concerned about cyber security. Airports all over the world have started to rely on vital information and communication systems to operate operations, maintain communication, and provide the passengers with appropriate services during the past several years. However, this high reliance on technology has made airports more vulnerable to other threats, such as cyberattacks. In order to protect the operation and the passengers, airports have been forced to increase their investments in cybersecurity due to the growing frequency and level of complexity of cyberattacks against airport security around the world. However, there are significant expenditures associated with the creation, design, and installation of such systems into the airports of different countries. The autonomous and advanced airport security system makes the boarding process at airports considerably easier. This is because in order to provide real-time data to the Airport Authority, they require a combination of different electronic and subsystem components. Such systems cost a lot of money to create, maintain, and launch. The Airport Authority prefers to hire outside service providers because of the considerable sum.
Browse key industry insights spread across 220 pages with 120 market data tables and figures & charts from the report “Global Airport Security Market Size, Share, and COVID-19 Impact Analysis, By Security Type (Access Control, Cybersecurity, Perimeter Security, Screening, Surveillance, Others), By System (Metal Detectors, Fiber Optic Perimeter Intrusion, Backscatter X-Ray Systems, Cabin Baggage Screening Systems, Others), By Airport Class (Class A, Class B, Class c), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) Analysis and Forecast 2021 – 2030” in detail along with the table of contents.
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Cybersecurity Segment is anticipated to witness the fastest market growth.
On the basis of security type, the global airport security system market is segmented into access control, perimeter security, cybersecurity, surveillance, screening, others. The cybersecurity industry will experience the fastest market growth of these over the anticipated timeframe. This is brought on by the rising need for cybersecurity-based services as well as the safety of critical aviation-based data.
Backscatter X-Ray systems segment to witness the fastest market growth.
Based on system, the global airport security system market is segmented into metal detectors, backscatter x-ray, fiber optic perimeter intrusion, cabin baggage screening systems, others. Due to rising concerns over the safety of travellers and their belongings at airports, the backscatter x-ray systems market will grow the quickest of all over the projection period.
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The Class C segment is going to witness the fastest market growth during the forecast period.
On the basis of airport class, the global airport security system market is segmented into Class A, Class B, and Class C. Due to the growing need for customised systems around the world and the installation of technologically advanced security systems at airports, the Class C segment is predicted to experience the fastest market development over the course of the projection period.
Europe is dominating the market with the highest CAGR of more than 9.5%.
Due to the significant investments made in infrastructure modernisation, Europe has the biggest market share and is the industry leader in airport security with a CAGR of over 9.5%. Airport officials have started using cutting-edge technologies including x-rays, automated lanes, and integrated networks that aim to increase security parameters and the facility's efficiency in managing multiple passengers at once to eliminate problems in the checking and screening process.
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Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
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