Passenger Security Market Key Players, Industry Demand, Overview And Supply Chain Analysis, Forecast To 2027

The major factors which are driving the growth of the Global Passenger Security market include the rising global air passenger traffic, growing demand for cybersecurity solutions, and the continuous upgradation in technology. The increasing tourism across the world is increasing the demand for safety and security solutions to safeguard passengers, thereby boosting the demand for passenger security market at the global level. Due to increase in terrorism activities, the passenger security has become the biggest priority, which in turn, is encouraging the end-users to adopt passenger security systems for better safety and security of the passengers.

The increasing replacement of antiquate security screening equipment, and growing development of new airports across the globe will further drive the demand of the market. The governments across the globe are heavily investing on the security and safety products and services due to increasing safety and security concern worldwide. This has led to rise in the demand for passenger security market. Moreover, the increasing adoption of artificial intelligence, and statistics analytics for cybersecurity software is boosting the growth of the market during the forecast period. However, the high cost of the passenger security systems is restraining the growth of the market.

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Passenger’s security plays a vital role in the daily operation of various end-user sectors such as airports, railways stations, and seaports. The transportation policy of every country is concentrating on enhancing safety and quality of services from threats. The passenger security employs to the techniques and methods used to protect staff, passengers, and assets from various threats such as crime, accidents or malicious harm, and injuries.

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Based on the security solution, the access control/biometric systems segment is expected to grow at a higher CAGR during the forecast period owing to the growing acceptance of automated self-kiosk for processing several passenger boarding protocols.

Based on the End-User, the commercial airports segment is projected to grow at a higher CAGR in the market during the forecast period owing to the increasing passenger traffic across the world driven by the expansion of existing airports and development of new airports across the globe. For instance, according to Center of Aviation, the global airport investment in 2018 was estimated to be around 81.9 million in which around 23 million were accounted for new airports and 58.8 million for existing airports development.

Based on the investment type, the new demand segment is expected to grow at a higher CAGR during the forecast period due to the enhancement in the technology for baggage & passenger scanning, development of new seaports, airports, and railway station and expansion of existing seaports and airports.

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Based on the region, Asia-pacific is anticipated to lead the global Passenger Security market during the forecast period owing to the rising number of passengers, changing demographics, and increasing disposable income. For instance, according to International Air Transport Association (IATA), China is expected to reach 1.6 billion passengers from 2017 to 2037 including of 1 billion of new passengers.

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

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Key Development:

• In Apr 2019, Axis Communication launched a multi-directional, four-channel camera with 30 fps frame rate and Quad HD resolution per channel.

The Global Passenger Security market has been segmented based on the Security Solution, End-Users, Investment Type and region. Based on Security Solution, the market is segmented into Baggage Inspection Systems, 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, and Cybersecurity Solutions. The Baggage Inspection is further segmented into Computed Tomography, and X-ray Scanner. Based on End-User, the market is segmented into Commercial Airports Seaports, and Railway Stations. Airport is further segmented into Large Hubs (Above 9.5 Million), Medium Hub (2.5-9.5 Million), and Small Hub (Less Than 2.5 Million). Based on Investment Type, the market is segmented into New Demand and Replacement.

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