DUBLIN--(BUSINESS WIRE)--The "Airport Security Systems Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The airport security systems market is anticipated to grow at a CAGR of above 8% during the forecast period.
- The increasing number of travelers and significant security enhancements for intercepting the threat of terrorist attacks in airports are some of the driving factors for airport security systems market and this trend is anticipated to continue over the forecast period.
- The increasing airport constructions and investments into airport infrastructure are further boosting the growth of the market of airport security systems during the forecast period.
- The increasing adoption of artificial intelligence, robotics, and biometrics in various systems of security for detecting suspicious persons, credit cards, fake currencies, abandoned objects, and explosives, without disturbing the passenger flow at the airport are anticipated to propel the growth of the market in the future.
Key Market Trends
Biometric Systems Segment to Experience the Highest Growth During the Forecast Period
Biometric Systems segment of the market is anticipated to grow at the highest CAGR during the forecast period. Various airports and airlines are currently testing and using biometrics in the airports to speed up various airport processes like check-in and security check or passport control. Some of the airports in countries like the US, the UK, China, Japan, and Singapore are currently using this technology and many other airports in smaller countries are in the testing phase of biometrics.
The Transportation Security Administration of the United States released a roadmap for enhancing aviation security & the passenger experience using biometrics in September 2018 with the vision to transform the commercial aviation ecosystem by 2026. Also, under Digi Yatra initiative, Airports Authority of India is currently testing the use of facial recognition system at checkpoints like Entry point check, Entry into Security Check, Aircraft Boarding, etc., in airports of Bangalore and Hyderabad and plans to use these system initially at airports at Kolkata, Varanasi, Pune, and Vijayawada. Such initiatives from the governments and advancement in technology for faster processing of passengers are acting as major drivers for the growth of the segment during the forecast period.
Asia Pacific Region is Expected to Generate the Highest Demand During the Forecast Period
Asia Pacific region is expected to generate the highest demand for airport security systems during the forecast period. The growth of the market is due to the increasing terrorist activities and increasing investments in the aviation infrastructure, which is fuelled by the increase in air passenger traffic in the region. China and India are the highest spenders in aviation infrastructure in the region and are experiencing the highest growth in the air passenger traffic.
Also, countries like Australia, Indonesia, and the Philippines among others have finalized their plans for the construction of new airports during the forecast period. For instance, Australia has begun the construction of Western Sydney Airport in September 2018 with an investment of USD 3.6 billion and is scheduled to open by 2026. Similarly, development plans of Jakarta Airport and commencement of construction of a new international airport project in the Philippines are also set to begin by the end of 2019. Such investments are anticipated to generate demand for new airport security systems for airports and new facilities during the forecast period.
The market of airport security systems is a highly fragmented market with many suppliers who provide different security systems to airports around the world. Some of the prominent players in the market are Honeywell International Inc., Bosch Security Systems, Smiths Group, L3Harris Technologies Inc., and Siemens AG.
The development of new technologies (and innovation of new products) is anticipated to help the companies to gain customers for expansion into new ventures and increase their geographic presence. Currently, the airport operators and governments are testing and conducting trials with robots to support security officials to provide adequate security at the airport.
To incorporate such technologies, they are partnering with the security system providers, which is expected to help the companies gain an advantage over others. Also, airlines are investing in security systems by partnering with the providers for decreasing passenger wait timing and faster screening, which is anticipated to help companies expand their geographic reach in a region.
For instance, in late July 2019, United Airlines have purchased stakes in Clear biometric screening company and signed a deal for installing screening kiosks at Chicago O'Hare, Houston International and Newark Liberty airports. Additionally, the latest trend of digitisation of airports will open new market opportunities for the market players in the coming future.
Key Topics Covered
1.1 Study Assumptions
1.2 Scope of Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Security System
5.1.1 Surveillance Systems
5.1.2 Biometric Systems
22.214.171.124 Face Recognition
126.96.36.199 Iris and Retina Recognition
188.8.131.52 Fingerprint Recognition
184.108.40.206 Other Biometric Systems
5.1.3 Screening and Scanning Systems
5.1.4 Perimeter Intrusion Detection Systems
5.1.5 Fire Safety Systems
5.2.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.2.3 Asia Pacific
126.96.36.199 South Korea
188.8.131.52 Rest of Asia Pacific
5.2.4 Latin America
184.108.40.206 Rest of Latin America
5.2.5 Middle East & Africa
220.127.116.11 United Arab Emirates
18.104.22.168 Saudi Arabia
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 FLIR Systems Inc.
6.2.2 L3Harris Technologies Inc.
6.2.3 Honeywell International Inc.
6.2.4 Bosch Security Systems
6.2.5 Siemens AG
6.2.6 Hart International Solutions
6.2.7 Covenant Aviation Security (CAS)
6.2.8 Collins Aerospace
6.2.9 Integrated Detection Systems Ltd.
6.2.10 Smiths Group
6.2.11 Elbit Systems Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/igce56