As Security Risks Rise, Technologies in Airport Security Market Expands

December 20, 2018

WELLESLEY, Mass., Dec. 20, 2018 – Airport security measures are becoming increasingly advanced, as authorities invest in IoT, big data, cloud storage and artificial intelligence. With these techniques, along with globalization and the movements the market for technologies in airport security is thriving, according to the report “Global Markets for Technologies in Airport Security.”

According to BCC Research, the global market for technologies in airport security was valued at $9.9 billion in 2018 and is expected to reach $15.1 billion by 2023 at a five-year compound annual growth rate (CAGR) of 8.9%.

Major players in the market include: American Science and Engineering Inc, Analogic Corp.,  Auto Clear LLC, Bruker Corp. (BRKR), Fisher Research Laboratory, IBM Corp. (IBM), Axis Communications AB, Bosch Security Systems Inc., C.E.I.A SpA., Hitachi Ltd. (HTHIF), Nuctech Co. Ltd. and Thales Group (THLEF).

Research Highlights:

• The Asia-Pacific region is expected to emerge as one of the fastest growing markets of airport security in the coming years due to the presence of developing countries and the increasing number of terrorist attacks in this region.
• Several market players offer advanced technological solutions to tackle the advancements in the hacking software.
• The European Commission has spent around $3.1 billion on aviation security, and hence, the European market is expected to grow at a highest CAGR in the next five years.

“The market of airport security will continuously develop in the next five years due to increases in the security budget as many airport authorities are planning to upgrade the existing security systems,” the report notes. “At present, several security personnel are hugely spending on IT solutions that would allow them to implement advanced security solutions offered by the market players.”

Terrorist Attacks at Airports as a Driving Growth Factor

Terrorist attacks at airports can severely affect the peace and security of a nation. Being a fast and popular mode of transportation, millions of people are flying and crossing borders on a daily basis via airlines. It becomes a scary task especially for border authorities to check on the border activities. Thus, airport security authorities are more focused on updating their current security.

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Global Markets for Technologies in Airport Security( ENG012A )
Publish Date: Dec 2018    

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