Global Airport Security Market to amass USD 23.6 billion valuation by 2027

November 23, 2021

According to the recent research report titled ‘Global Airport Security Market Size study, by Technology (Earth Moving Machinery, Material Handling Machinery and Concrete & Road Construction Machinery) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global airport security market was worth USD 13.5 billion in 2020 and is expected to multiply with a CAGR of 8.3% over 2021-2027, subsequently amassing a valuation of USD 23.6 billion by end of the forecast period.

As per the report findings, global airport security market growth is primarily driven by rise in new airport construction activities and infrastructure, along with increase in air travel and passenger volumes.

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According to estimates from the United Nations-backed International Civil Aviation Organization (ICAO), the total number of passengers transported on scheduled flights surged by 3.6%, reaching 4.5 billion in 2019. Similar trends in the coming years will continue enhance the market outlook. Further, digital protection system retrofits and improvements are projected to have a favorable impact on the industry revenue over the forecast timeframe.

Elaborating on challenges plaguing the industry progression, global volatility, and a lack of funds for urban expansion, public infrastructure expansion, and airport renovations remain a major stumbling block for businesses. Furthermore, absence of a considerable return on investment (ROI) and the resiliency of current defensive gear due to looming threats have inhibited operators from investing in new technologies.

Based on technology type, global airport security marketplace is split into surveillance, screening, perimeter security, cyber security, and access control.

Coming to geographical ambit, Europe, North America, Asia Pacific, and Latin America are the key areas considered for the regional assessment of the overall market.

Asia Pacific is expected to account for significant market share over 2021-2027 due to heavy investments in airport security systems to prevent terrorist threats. Furthermore, the area is outsourcing network infrastructure security as it may not be able to handle sophisticated and numerous threats on its own.

With respect to the competitive terrain, Fisher Labs, DetectaChem LLC, C.E.I.A S.p.A., Bosch Security and Safety Systems, Biosensor Applications Sweden AB, Bahia Corporation, Axis Communications AB, Autoclear LLC, Appealing Products Inc. (ChemSee), and American Science and Engineering Inc. are the key players profiled in worldwide airport security industry research report,

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