Passenger Safety Market Challenges, Business Overview, Key Trends, Technology, Growth, Impact of Covid-19 on Industry
Latest Passenger Safety Systems Market A Global Analysis of Size, Share, Trend and Growth of the Most Remarkable Players, Report Published by MRFR
NEW YORK, NEW YOURK, UNITED STATES OF AMERICA, Jan. 19, 2022 /EINPresswire.com/ — Competitive Dynamics
The major players are Adani Systems Inc. (USA), Advanced Perimeter Systems Ltd. (UK), Autoclear, LLC. (USA), Axis Communications AB. (Sweden), Bosch Sicherheitssysteme GmbH (Germany), EIA SPA (Italy), FLIR Systems, Inc. (USA), Honeywell International Inc. (USA), Leidos (USA) and SITA (Switzerland).
The Passenger Security Market is expected to reach USD 7,770 Million by 2026 and register a CAGR of 6.91%.
The global passenger security market is expected to expand significantly throughout the forecast period, owing to factors such as increasing global passenger traffic and expansion of new ports and stations. Additionally, increasing investment by developed countries like the United States in innovative safety equipment to better protect their people is likely to support the growth of the market. The increasing use of modern technologies such as artificial intelligence, blockchain, data analytics, and biometrics to provide greater passenger security is likely to fuel the growth of the passenger security market.
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Significant technical advancements in control and inspection systems are expected to propel the rise of the passenger security market in the coming years. Airport officials are improving security systems to monitor potential threats by analyzing the activities and intentions of countless tourists and guests. The aviation sector is even more critical to ensure a safe and secure flight time due to the high altitude at which passengers fly. Therefore, thorough passenger screening is essential before embarking on the flight experience.
However, concerns over cyber security and high cost of development may restrain the growth of the passenger security market.
The access control/biometric systems segment is expected to grow at the fastest rate during the forecast period, owing to the increasing adoption of biometric systems by airports to provide passengers with an improved level of security and of travel experience.
The new demand segment is expected to grow at a faster rate than the rest of the market over the forecast period, owing to advancements in baggage and passenger scanning technology, development of new seaports, airports and stations, as well as the expansion of existing seaports and airports.
The commercial airport category is expected to grow at the fastest rate over the forecast period owing to the increase in passenger traffic globally which is fueled by the expansion and development of airports.
In 2019, North America dominated the global passenger security market, owing to the presence of well-known companies such as Honeywell International, Inc. and Adani Systems, Inc. (US) Several countries, like the States States, Canada and Germany, are concentrating their efforts on technological advances in existing systems in order to avoid any damage to transport infrastructure.
The growth in the number of passengers is the main driver of market growth in the Asia-Pacific region. The region’s changing demographics and increasing disposable income are increasing the demand for air travel, leading to an increase in the development and expansion of new airports, necessitating the installation of new passenger safety systems. The market in this region is expected to grow at the fastest rate during the forecast period. The expansion of the region’s aviation industry, particularly in China, Japan and India, is expected to increase the demand for passenger safety systems.
Increasing investment in passenger safety measures by notable airlines such as Emirates Group and Etihad Airways is expected to drive the market expansion in the region. Extreme cyber risks at ports in Brazil and South Africa are expected to boost the region’s demand for passenger security.
Passenger Security Market Research Report: Insights by Solution (Baggage Inspection Systems, Video Management Systems, Access Control/Biometric Systems, Cybersecurity Solutions, Handheld Scanners, Full Body Scanners, explosives traces, walk-through metal detectors, perimeter intrusion detection and barcode boarding systems), type of investment (new demand and replacement demand), end user (commercial airports, seaports and railway stations ) and Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) – Forecast to 2027 @ https://www.marketresearchfuture.com/reports/passenger-security-market-9637
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