Airport Security Market to Rise at 7.62% CAGR till 2027; Previous Terror Attacks and Airline Hijacks Have Led to a Huge Emphasis on Airport Security Checks

The global Airport Security market size is projected to reach USD 11.45 billion by the end of 2027. The increasing number of air travels will bode well for the market in the coming years. According to a report published by Fortune Business Insights, titled “Airport Security Market Size, Share and Industry Analysis, by Security Type (Access Control, Cyber security, Perimeter Security, Screening, Surveillance, and Others), By System (Metal Detectors, Fiber Optic Perimeter Intrusion, Backscatter X-Ray Systems, Cabin Baggage Screening Systems, and Others), By Airport Model (Airport 2.0, Airport 3.0, and Airport 4.0), By Airport Class (Class A, Class B, and Class C), and Regional Forecast,2020- 2027,” the market was worth USD 10.78 billion in 2019 and will exhibit a CAGR of 7.62% during the forecast period, 2019-2027.

The increasing air travels and air traffic are primary factors that have resulted in the huge demand for security checks at airports. The growing demand for security systems is consequential to the unfortunate terrorist attacks and security breaches in recent times. The 9/11 terrorist attack has completely changed the dynamics of security checks. The emphasis on security checks will create several opportunities for the companies operating in the market. Strict government policies and guidelines imposed by travel authorities across the world will contribute to the growth of the market in the forthcoming years. Technological advancements have played a huge role in the growth of the market. Additionally, the massive investment in the development of efficient equipment will have a positive impact on the growth of the market.

Covid-19 Pandemic Proving to Have an Adverse Impact on the Airport Security Market

The recent coronavirus outbreak has instilled panic among people across the world. Due to the rapid spread of the virus, governments across the world are taking strict actions to minimize public gatherings. The travel bans imposed by numerous countries has had a negative influence on the growth of the market. As international flights have almost come to a standstill, 2020 will prove to be a disastrous year for the market. Additionally, stagnancy and shutdowns in production units will hamper the growth of the market. Having said that, the lift-off in restrictions and lockdowns will create new opportunities for the companies operating in the market in the coming years.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/airport-security-market-102853

Thales Group (France) Acquired Gemalto (Netherlands) at USD 5 Billion Worth Transaction Cost

The report highlights a few of the major industry developments of recent times and gauges their impact on the growth of the market. Accounting to the massive demand for Airport Securitys, several companies are looking to invest in the development of the product. In April 2019, Thales Group (France) announced that it has completed the acquisition of Gemalto (Netherlands). The acquisition is said to be around USD 5 billion. Through this acquisition, the company will offer security solutions to unmanned traffic management, cybersecurity, airport security and security of financial transactions. This acquisition will also have a positive impact on the growth of the market in the coming years.

Major Companies Are Focusing on Technological Interventions in Existing Systems

The massive demand for Airport Securities has emerged in favor of the vendors across the world. Accounting to the massive potential held by these products, several large scale companies are operating in the market. The healthy market competition has encouraged companies to adopt standout strategies that will help them gain a competitive edge over its counterparts.

List of companies profiled in the report:

• American Science and Engineering Inc. (The U.S.)


• Axis Communication AB (Sweden)


• FLIR Systems (The U.S.)


• Hitachi Limited (Japan)


• Honeywell International Inc. (The U.S.)


• L3Harris Technologies Inc. (The U.S.)


• Raytheon Company (The U.S.)


• Robert Bosch GmbH (Germany)


• Siemens AG (Germany)


• Smiths Detection Inc. (The U.K)


• Thales Group (France)


• Westminister Group Plc. (The U.K)

Further Report Findings:

• The report analyzes the ongoing market trends across five major regions. Asia Pacific will emerge as the leading region. Increasing air travels and flights will bode well for the regional market.


• The market in Asia Pacific will rise considerably from its 2019 value of USD 3.82 billion.


• Despite the effect of the coronavirus outbreak, the market in North America will recover and exhibit a considerable CAGR during the forecast period.

Industry Developments:

• April 2019–Thales Group announced that it has completed the acquisition of Gemalto. Through this acquisition, the company plans to strengthen its portfolio of digital security services.

The global Airport Security market is segmented on the basis of: