Airport security are used to ensure security and safety at airports as well as subsequent flight travels. The increasing awareness regarding security has created several opportunities for the companies operating in the market. The emphasis on airport security has risen dramatically over the past few years. Technological advancements in the equipment associated with security checks will have a huge impact on the growth of the overall market 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 market. The high investment in the development of efficient security systems will emerge in favor of the growth of the market in the foreseeable future.
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 market in the coming years. According to a report published by Fortune Business Insights, titled “Airport Security System Market Size, Share and Industry Analysis by Security Type (Access Control, Cyber security, Perimeter Security, Screening, Surveillance, and Others), By System (Metal Detectors, Fiber Optic Perimeter Intrusion, Backscatter X-Ray Systems, Cabin Baggage Screening Systems, and Others), By Airport Model (Airport 2.0, Airport 3.0, and Airport 4.0), By Airport Class (Class A, Class B, and Class C), and Regional Forecast,2020- 2027,” the market was worth USD 10.78 billion in 2019 and will exhibit a CAGR of 7.62% during the forecast period, 2019-2027.
List of companies profiled in the report:
- 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.)
- Raytheon Company (The U.S.)
- Robert Bosch GmbH (Germany)
- Siemens AG (Germany)
- Smiths Detection Inc. (The U.K)
- Thales Group (France)
- Westminister Group Plc. (The U.K)
Industry Developments:
June 2019 – OSI Systems, Inc. announced that it has received a contract from the US Navy. Under this contract company will provide a comprehensive service and maintenance support for Rapiscan baggage and parcel checkpoint inspection systems installed at correctional facilities and detection centers.
April 2019–Thales Group announced that it has completed the acquisition of Gemalto. Through this acquisition, the company plans to strengthen its portfolio of digital security services.
Information Source-
https://www.fortunebusinessinsights.com/airport-security-market-102853
