Global Airport Security market outlook 2024, Forecast To 2033
24 Jan, 2024
The airport security market has undergone rapid growth, increasing from $15.52 billion in 2023 to $17.45 billion in 2024 at a CAGR of 12.5%. The historic period's growth is attributed to terrorism threats, regulatory compliance, the rise in passenger volume, globalization, and infrastructure development. Projecting into 2028, the market is expected to reach $27.31 billion at a CAGR of 11.8%. The forecasted growth is fueled by rising cyber security attacks, digitization of airports, increasing investments in the aviation sector, rising tourism, and an increase in trade, with major trends focusing on strategic collaborations, biometrics adoption, drone detection and mitigation, cybersecurity integration, and multi-modal security.
Global Airport Security Market Key Driver
The growth of the airport security market is fueled by the increase in new airport building operations and facilities improvements. These improvements, encompassing infrastructure enhancements, check-in areas, and other facilities, aim to modernize airports. A USD 318 million contract awarded to Raytheon Technologies in May 2021 by the U.S. Transportation Security Administration (TSA) further contributes to strengthening airport security. With approximately 430 federally managed airports benefiting from this initiative, the expansion of airport building operations and facilities improvements drives the growth of the airport security market.
Get A Free Sample Of The Global Airport Security Market ReportGlobal Airport Security Market Segments
The global airport security market covered in this report is segmented –
1) By Technology: Access Control, Cybersecurity, Perimeter Security, Screening and Scanning, Surveillance, Real-Time Locating System (RTLS), Other Technologies
2) By System: Metal Detectors, Fiber Optic Perimeter Intrusion, Backscatter X-Ray Systems, Cabin Baggage Screening Systems, Other Systems
3) By Application: Civilian and Commercial Airport, Military Airport
By Geography: The regions covered in the Airport Security market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the airport security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the airport security market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Airport Security Industry Players
American Science and Engineering Corp., Bosch Corporation, CEIA S.p.A., Hitachi Electronic Devices (USA) Inc., L-3 Communications Holdings Inc., Lockheed Martin Corporation, OSI Systems Inc., Safran Morpho Inc., Siemens AG, Smiths Detection Inc., Auto Clear LLC, Analogic Corporation, Bruker Corporation, Nuctech Company Ltd., MilliVision Technologies LLC, G4S Secure Solutions (USA) Inc., Securitas AB, Covenant Aviation Security LLC, ICTS Europe Holdings BV, Allied Universal Corporation, SM Group (America) Inc., Vantage Airport Group Ltd., Rapiscan Systems Inc., L3Harris Technologies Inc., IDEMIA Identity & Security USA LLC, Argus Global LLC, Clear Channel Airports Inc., Leidos Inc., Vision-Box Inc., Rohde & Schwarz USA Inc.
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Airport Security Market Overview
The airport security refers to the procedures and methods used to protect passengers, personnel, aircraft, and airport property from harm caused by accident or malice, crime, and other dangers. Airport security is a set of measures and people and material resources aimed at protecting civil aviation from acts of unlawful interference such as terrorism, sabotage, threats to life and property, false threat communication, bombing, and so on. It tries to keep these risks at bay by using various methods of scanning.
Airport Security Global Market Report 2023 provides data on the global airport security market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The airport security market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.