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Airport Security Market to grow at 4.6% CAGR from 2016 to 2023:
Global Market Insights Inc.
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The Airport Security Market trends are analyzed from recent past with an eye on coming
years in this report that also offers projections for Airport Security industry targeted at
helping in business decisions.
Airport security industry is expected to be one of the booming markets over the upcoming
years owing to the unrelenting threat of terrorism and other forms of aviation crimes
plaguing the landscape globally. The immediate need for a strict and efficient screening
system to mitigate these potential threats will fuel the market growth. With the
incorporation of enhanced hi-tech security to the existing surveillance system,
passengers are ensured with better situational awareness and improved safety.
Furthermore, growing investments on new infrastructure developments along with the
continuous effort to upgrade disparate systems will positively impact the market
dynamics. For instance, a recent study by the Centre for Aviation (CAPA) estimated that
currently, over 2,500 aviation projects are operational, with Asia Pacific solely investing
more than USD 125 billion on airport construction activity.
Industry Overview
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Based on technology trends, airport security market covers perimeter security, cybersecurity,
surveillance, access control, and screening. Airport cybersecurity market worth over USD 1.8
billion in 2015, is expected to grow at a fast pace, driven by the increasing number of
cyberattacks at airports. Screening segment, which includes access control system, metal
detectors, and X- ray machines, accounted for a major revenue share of over USD 4.25 billion
in 2015. Strong demand for efficient and swift screening owing to growing public traffic in
airports will drive overall airport security industry in the upcoming timeframe.
Owing to the presence of a large public pool, airports represent a potential target area for
frequent attacks such as cybercrime, arson, robbery, terrorism, vandalism, etc. Thus,
considering the national security, streamline screening and advanced level security in airports
has now become a necessity. Strong positive outlook toward efficient automated security as an
alternative to manual system is expected to stimulate global airport security market dynamics. A
large number of airports are capitalizing on integrated platforms, C2 (complex control and
command) systems, and IP-based network owing to the enhanced security offered by these
systems. In addition, a strict government regulatory framework that ensures the safety of the
public will also favor airport security industry share over the period 2016-2023.
However, military conflicts and global economic turmoil are some of the factors restraining the
market growth.
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Based on global trends, China is a major revenue pocket for APAC airport security market,
and is expected to grow noticeably at an annual growth rate of 7% over the period 2016-
2023. Huge investments on infrastructure development and hi-tech screening incorporation
are the key factors catalyzing U.S. airport security market growth.
North America, almost solely driven by U.S. airport security industry, is also slated to witness
lucrative growth over the next six years. U.S. market, which held 85% of the total market
revenue in 2015, is expected to continue its supremacy. The robust growth can be credited
to the rapid constructional developments in this region which are encouraging the industry
players for more and more investments.
Global airport security market is highly competitive with some of the prominent players being
Smiths Detection, OSI Systems (Rapiscan), Safran Morpho, American Science &
Engineering, and L-3 Security & Detection. Upgraded technological integrations with existing
systems and increasing R&D expenditure are the key strategies adopted by the market
players to sustain the diversified airport security industry.
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U.S. Airport Security Market size, by technology, 2012-2023 (USD Billion)
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