Airport Security Market Size Overview
Airport Security Market Size is expected to grow at a Significant CAGR During Forecast Period. Airport security encompasses an umbrella of devices, systems, and technologies that keep passengers safe both when they’re in the airport and when they’re flying.
Some of the many devices, systems, and technologies that comprise airport security include x-rays, scanners, metal detectors, 3D scanners, biometrics scanners, etc. these are designed to safeguard passengers from possible threats from bombers, terrorists, and other dangerous elements of society.
Key Players
- American Science and Engineering, Inc. (US),
- Autoclear LLC (US),
- E.I.A. SpA (US),
- FLIR Systems, Inc. (US),
- L3 Security & Detection Systems (US),
- OSI Systems, Inc. (US),
- Robert Bosch LLC (US),
- Siemens AG (Germany),
- Smiths Detection LLC (US), and
- Westminster Aviation Security Services Ltd (UK)
Covid-19 Analysis of Airport Security Market
COVID-19 is a dangerous virus that is currently a global pandemic. That that it could make some people very sick and even cause a few casualties prompted governments around the world to take immediate action. Governments responded by imposing temporary lockdowns and quarantines. These had some success, but they were detrimental for most industries and markets.
The Airport Security Market Size is no exception. Many airlines began to mandate that people who wanted to fly wear masks to do so. This combined with the fact that many people were afraid to fly during the pandemic translated into far fewer passengers over the past few years. This has negatively impacted the airport security market since the devices, systems, and technologies that are needed to keep airports and passengers safe are not needed nearly as much or as often.
Segment Overview
By technology
The Airport Security Market Size has been segmented into the following by technology:
- Radio-frequency identification (RFID)
- Biometric
- 3-D scanning
- Others
The 3-D scanning subsector will have the highest CAGR of all of the subsegments in the technology sector. 3-D scanners are useful in detecting items that may be hiding in bags made out of various types of materials. They also are useful in detecting dangerous items in full bags. This is possible because these scanners are able to rotate and give the scanner a 360-degree view of the contents of a particular bag. It can do all of this with all of the contents in the bag being scanned.
By Region
The Airport Security Market Size is separated into the following regions:
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East
The North American region had the highest market share one year before 2018. What accounted for this was the fact that the Transportation Security Administration (TSA) is the agency that governs and sets the standards for passenger security and travel. It has strict standards, rules, and regulations that manufacturers must follow. Manufacturers find these easy to follow since they’re straightforward.
Also, many manufacturers of airport security systems, devices, and technologies are in America.
Regional Analysis
Covid-19 notwithstanding, the North American region will have the largest Airport Security Market Size share. Part of this is because most of the manufacturers of airport security products and technologies are located in America. However, another important reason is that America and Canada still have the largest middle classes in the world. These middle classes still have substantial purchasing power. This means that they can afford to fly, and they can afford to fly often.
Indeed, the North American region may well have the largest number of flyers in all of the regions in the world. That said, the Asia-Pacific region is expected to have the highest regional CAGR. The reason being that the middle classes in India and China are growing rapidly. These middle classes want and need to travel by airplane much more often.
This is what is accounting for growth in travel. More than half of the world’s population has never flown before and most of these people live in India and China. The fact that India and China are building more and more airports in the region is also a contributing factor. However, they are not the only countries in the region that are going on large-scale airport building operations – just the largest.
The European Union is seeing respectable growth in the airport security market. The reason for this is that more people in Europe are flying. This is especially the case as European economies recover and people, in general, become richer. The same is true in the Middle East and Latin America.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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