How Has the Transportation Security Technology Market Size Evolved in Recent Years?
The transportation security technology market has seen considerable growth due to a variety of factors.
• In recent times, there has been a robust growth in the market size of transportation security technology. The market, which previously stood at $45.3 billion in 2024, is projected to rise to $49.26 billion in 2025, representing a compound annual growth rate (CAGR) of 8.8%.
Factors that have played a significant role in this growth throughout the historical period include an amplified requirement for public safety, an increase in the usage of unmanned aerial vehicles (UAVs) for surveillance and monitoring, a swell in global travel and passenger traffic, and government efforts aimed at enhancing safety and security standards in the public transportation sector.
What Is The Forecast For The Transportation Security Technology Market Size?
The transportation security technology market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a significant expansion of the transportation security technology market in the coming years. The market is anticipated to surge to $68.34 billion by 2029 with a compound annual growth rate (CAGR) of 8.5% . This projected growth can be chalked up to various factors such as the escalating demand for intelligent transportation systems, mounting anxiety over terrorism, theft, and other safety hazards, the increasing incorporation of artificial intelligence and machine learning features into security systems, plus the growing embrace of cloud-based security solutions. Key market trends predicted for the forecast period involve groundbreaking security screening solutions, embracing of novel transportation security technologies like biometrics, data analytics, and 3-D or multi-view scanning, application of blockchain technology for safe data exchange and tracking, greater use of leading-edge technologies in transportation security, and strategic collaborations among primary market stakeholders.
What Are The Essential Drivers Behind The Growth Of The Transportation Security Technology Market?
The escalating menace of terrorism is anticipated to fuel advancements in the transportation security technology market. Terrorism follows a systematic approach to incite fear, often aimed at civilians to promote political, religious or ideological sentiments. Various complex socio-political elements like dissatisfaction, beliefs, and geopolitical conflicts contribute to the rising terrorism. Technologies that secure transportation play a crucial role in smart transport through real-time monitoring, threat identification, and swift response systems, enhancing safety and mitigating risks of accidents. For instance, as per the Global Terrorism Index, a report by an Australian think tank, the Institute for Economics and Peace, terrorist assaults in December 2023 became increasingly deadly than they were in 2022, with an average of 1.7 fatalities per attack as compared to 1.3 fatalities per attack in 2021. Consequently, the increasing menace of terrorism is a prime factor propelling the growth of the transportation security technology market.
How Is The Global Transportation Security Technology Market Divided Into Key Segments?
The transportation security technologymarket covered in this report is segmented –
1) By Technology: Bottled Liquids Scanner, Explosive Detection System, Explosive Trace Detection
2) By Transportation Type: Airways, Waterways, Roadways, Railways
3) By Application: Video Surveillance, Passenger And Baggage Screening System, Cargo Inspection System, Perimeter Intrusion Detection, Access Control, Nuclear And Radiological Detection, Fire Safety And Detection System, Tracking And Navigation System, Other Applications
Subsegments:
1) Bottled Liquids Scanner: Handheld Scanners, Conveyor Belt Scanners
2) Explosive Detection System: Fixed Systems, Portable Systems
3) Explosive Trace Detection: Ion Mobility Spectrometry (IMS), Laser-Induced Breakdown Spectroscopy (LIBS)
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What Trends Are Shaping The Transportation Security Technology Market?
Key players in the transport security technology market are developing next-gen systems for explosive detection to upgrade security protocols. These advanced systems facilitate accurate detection of explosive substances while reducing false alarms at security control points. For instance, Agilent Technologies Inc., an American-based manufacturer of instruments and systems, introduced the Insight200M liquid explosive detection system (LEDS) in November 2022. This sophisticated liquid-explosive detection system intends to boost security levels and operational efficiency at airport controls. It supplements CT scanning technology by offering a high rate of detection accuracy and a low occurrence of false alarms. This results in speedy and trustworthy screening of objects, improving passenger flow whilst adhering to strict safety regulations.
Who Are the Key Players In The Transportation Security Technology Market?
Major companies operating in the transportation security technology market are:
• Siemens AG
• Rockwell Collins Inc
• RTX Corporation
• Lockheed Martin Corporation
• Honeywell International Inc
• ABB Ltd
• Safran SA
• Thales Group
• L3Harris Technologies Inc
• ASSA Abloy
• ADT Corporation
• Daifuku Co. Ltd.
• Vanderlande Industries B.V.
• Smiths Group Plc
• Bosch Security Systems GmbH
• OSI Systems Inc.
• FLIR Systems Inc.
• Astrophysics Inc.
• Vehant Technologies
• Kromek Group plc
• Cobalt Light Systems Ltd.
• Todd Research Ltd
What Are The Regional Insights Into The Transportation Security Technology Market?
North America was the largest region in the transportation security technology market in 2024. The regions covered in the transportation security technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
