Airport security are used to ensure security and safety at airport as well as subsequent flight travels. The increasing awareness regarding security has created several opportunities for the companies operating in the industry. Technological advancements in the equipment associated with security checks will have an all impact on the growth of the overall airport industry in the coming years. The ability of security checks at airports to prevent huge security threats and potential terrorist attacks will bode well for the companies operating in the airport industry. The high investment in the development of efficient Airport Security will emerge in favor of the growth of the industry in the foreseeable future.
The airport security market is an important aspect of the aviation industry, ensuring the safety and security of passengers, cargo, and aircraft. With the increasing threat of terrorism and other security concerns, the airport security market has grown significantly in recent years, driven by advancements in technology and a growing focus on passenger safety.
According to a research, the global airport security market size is projected to reach USD 11.45 billion by the end of 2027. The increasing number of air travels will bode well for the industry in the coming years, the industry was worth USD 10.78 billion in 2019 and will exhibit a CAGR of 7.62% during the forecast period, 2019-2027.
Company Mergers Are Proving Beneficial for Major Businesses
The airport research encompasses several factors that have contributed to the growth of the overall industry in recent years. With a bid to capitalizing the massive potential held by this industry, several large scale companies are looking to adopt newer strategies. It is observed that company mergers and collaborations are a growing trend among major businesses across the world. In April 2019, Thales Group announced that it has completed the acquisition of Gemalto.
The Germany-based company is provider of digital security services, with product applications ranging across diverse industry verticals. Through this acquisition, the company plans to strengthen its portfolio of digital security solutions. Thales’ acquisition of Gemalto will help the company establish a formidable position in the global industry. Furthermore, this acquisition will have a positive impact on the growth of the overall industry in the coming years.
List of Key players profiled in the airport security research include American Science and Engineering Inc. (The U.S.), Axis Communication AB (Sweden), FLIR Systems (The U.S.), Hitachi Limited (Japan), Honeywell International Inc. (The U.S.), L3Harris Technologies Inc. (The U.S.).
Rising Air Traffic Will Emerge in Favour of Industry Growth
One of the key trends driving the growth of the airport security market is the increasing use of technology in security solutions. Advancements in technologies such as biometrics, artificial intelligence, and facial recognition are allowing airports to improve security while also enhancing the passenger experience. For example, facial recognition technology can be used to speed up the check-in and boarding process, while also enhancing security by identifying potential threats.
Another trend in the airport security market is the growing demand for passenger screening solutions. With the increasing number of air passengers, airports are looking for more efficient and effective ways to screen passengers for potential security threats. This has led to the development of new passenger screening technologies, such as full-body scanners, which can detect hidden weapons and explosives.
In addition to passenger screening, cargo screening is also a critical aspect of airport security. The growing demand for air cargo transportation has led to an increased focus on cargo screening solutions, with airports looking for more efficient and effective ways to screen cargo for potential security threats. This has led to the development of new cargo screening technologies, such as X-ray scanners and explosive detection systems.
One of the challenges facing the airport security market is the high cost of implementing and maintaining security solutions. The cost of implementing new security technologies and systems can be significant, which can make it difficult for smaller airports to keep up with larger airports. However, advancements in technology and the increasing focus on passenger safety and security are driving demand for more efficient and cost-effective security solutions.
In conclusion, the airport security market is a rapidly growing industry driven by advancements in technology and a growing focus on passenger safety and security. With the increasing number of air passengers and the rising threat of terrorism and other security concerns, airports are looking for more efficient and effective security solutions to ensure the safety and security of passengers, cargo, and aircraft. While there are challenges associated with the high cost of implementing and maintaining security solutions, advancements in technology are driving demand for more efficient and cost-effective security solutions.