Passenger Security Market | Size, Growth, Trend and Forecast to 2027

 

Passenger Security Market

The Passenger Security Market is expected to grow at a faster CAGR over the forecast period (2020-2027).

The factors driving the growth of Passenger Security Market includes rise in the air passenger traffic, expansion of the tourism industry, increasing deployment of passenger security systems in the public places such as malls, seaports, and airports for scanning passenger’s baggage. As per the Statista Mobility Market Outlook, the Global Travel and Tourism Market was estimated around USD 400 million in 2020 and this figure is predicted to surpass USD 600 million by the end of 2026, which will boost the Passenger Security Market size in the approaching years. Moreover, the growing influence of terrorism activities around the world, rising adoption of advanced technologies such as Artificial Intelligence (AI) and Internet of Things (IoT) and increasing Government expenditure on the infrastructure projects, are some of the additional factors supplementing the Passenger Security Market Growth. In addition, emerging need to replace the outdated security equipment, increasing investments by leading players on research and development and rising disposable incomes, are further contributing to the market growth.

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However, the growth of Passenger Security Market is hindered due to high cost of passenger security systems.

The prominent players operating in the market are C.E.I.A. SPA, Bosch Sicherheitssysteme GmbH, Autoclear, LLC, Adani Systems Inc., Axis Communications AB., Honeywell International Inc., Rapiscan Systems, Navtech Radar, Siemens AG, Advanced Perimeter Systems Ltd., Flir Systems, Inc. and L3 Security & Detection Systems, among others.

End-User: Segment Analysis

Based on End-User, the Commercial Airports segment is expected to expand at a significant CAGR over the forecast period attributed to increasing investments by Governments on the construction of airports.

Investment Type: Segment Analysis

Based on Investment Type, the New Demand segment is anticipated to grow at a remarkable CAGR over the forecast period. The increasing deployment of baggage & passenger scanning systems at public places such as malls, airports, and railway stations, is the major factor responsible for the growth of the segment.

Regional: Segment Analysis

As per the Passenger Security Market Analysis, the Asia-Pacific region is projected to capture the largest market share during the forecast period. Rise in the air passenger traffic around the world, rapid growth in the tourism industry, upgradation of commercial aircrafts, increasing investments on the construction of airports and seaports and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific. 

Market Segmentation

Global Passenger Security Market by Security Solution

  • Baggage Inspection Systems
    • Computed Tomography
    • X-ray Scanner
  • Explosive Trace Detectors
  • Hand-Held Scanners
  • Walk-through Metal Detectors
  • Full-Body Scanners
  • Perimeters Intrusion Detection Systems
  • Video Management Systems
  • Access Controls/Biometric Systems
  • Bar-Coded Boarding Systems
  • Cybersecurity Solutions

Global Passenger Security Market by End-User

  • Commercial Airports
    • Large Hubs (Above 9.5 Million)
    • Medium Hub (2.5-9.5 Million)
    • Small Hub (Less Than 2.5 Million)
  • Seaports
  • Railway Stations

Global Passenger Security Market by Investment Type

  • New Demand
  • Replacement

Global Passenger Security Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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