Passenger security equipment is used to protect passengers from any danger, crime, and other hazards. Increase in terrorist operations following the 9/11 attacks on the U.S. spurred national, regional governments, and public-private organizations to invest in transportation infrastructure security solutions to ensure passenger security during travel. Prominent passenger security equipment typically includes metal detector systems, baggage inspection systems, video surveillance, intrusion detection and prevention systems, fire safety and detection systems, and people scanning systems.
Growth in global political tension and the fear of terrorist attacks are signaling significant growth opportunities for future of the global passenger security equipment market. In addition, the aviation industry getting back on track post a pandemic is positively impacting growth of the passenger security equipment market. However, the potential of abuse of passenger security equipment with unconstitutional or biased searching hampers the market growth. On the contrary, increase in government initiatives and automation trends are expected to offer remunerative opportunities for expansion of the passenger security equipment industry during the forecast period.
The global passenger security equipment market is segmented on the basis of offering, transport infrastructure, type, and region. Based on offering, the market is bifurcated into equipment and services. On the basis of transport infrastructure, the market is divided into airports, train stations, bus stations, and seaports. Depending on type, the market is classified into baggage inspection system, explosive detection system, video surveillance system, intrusion detection & prevention system, fire safety & detection system, people screening system, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global passenger security equipment market is dominated by key players such as Autoclear, Axis Communications AB, Bosch Sicherheitssysteme GmbH, Honeywell International Inc., Kapsch TrafficCom AG, L3Harris Technologies, Inc., Rapiscan Systems, SITA, Simens AG, and Smiths Group plc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Growth in global political tension and the fear of terrorist attacks are signaling significant growth opportunities for future of the global passenger security equipment market. In addition, the aviation industry getting back on track post a pandemic is positively impacting growth of the passenger security equipment market. However, the potential of abuse of passenger security equipment with unconstitutional or biased searching hampers the market growth. On the contrary, increase in government initiatives and automation trends are expected to offer remunerative opportunities for expansion of the passenger security equipment industry during the forecast period.
The global passenger security equipment market is segmented on the basis of offering, transport infrastructure, type, and region. Based on offering, the market is bifurcated into equipment and services. On the basis of transport infrastructure, the market is divided into airports, train stations, bus stations, and seaports. Depending on type, the market is classified into baggage inspection system, explosive detection system, video surveillance system, intrusion detection & prevention system, fire safety & detection system, people screening system, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global passenger security equipment market is dominated by key players such as Autoclear, Axis Communications AB, Bosch Sicherheitssysteme GmbH, Honeywell International Inc., Kapsch TrafficCom AG, L3Harris Technologies, Inc., Rapiscan Systems, SITA, Simens AG, and Smiths Group plc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the passenger security equipment market forecast from 2020 to 2030 to identify the prevailing passenger security equipment market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the passenger security equipment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global passenger security market analysis.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global passenger security equipment market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Baggage Inspection System
- Explosive Detection System
- Video Surveillance
- Intrusion Detection and Prevention System
- Fire Safety and Detection System
- People Screening Systems
- Others
By Offering
- Equipment
- Service
By Transport Infrastructure
- Airports
- Train Stations
- Bus Stations
- Seaports
By Region
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Spain
- Italy
- France
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Indonesia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Autoclear
- Axis Communications AB
- Bosch Sicherheitssysteme GmbH
- Honeywell International Inc.
- Kapsch TrafficCom AG
- L3Harris Technologies, Inc.
- Rapiscan Systems
- SITA
- Simens AG
- Smiths Group plc
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PASSENGER SECURITY EQUIPMENT MARKET, BY OFFERING
CHAPTER 5: PASSENGER SECURITY EQUIPMENT MARKET, BY TRANSPORT INFRASTRUCTURE
CHAPTER 6: PASSENGER SECURITY EQUIPMENT MARKET, BY TYPE
CHAPTER 7: PASSENGER SECURITY EQUIPMENT MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Passenger Security Equipment Market,' the passenger security equipment market was valued at $58.4 billion in 2020, and is estimated to reach $132.2 billion by 2030, growing at a CAGR of 8.6% from 2021 to 2030.The main objective of passenger security equipment at public transportation infrastructures is to keep forbidden and potentially dangerous things including sharp objects, firearms, and explosives from being transported into airplane, train, bus, or cruise ship. Apart from physical passenger screening using metal detectors, x-ray screening equipment and millimeter wave security screening technologies are employed. Following the recent terror incidents in Europe and the Gulf, the need for innovative security solutions has increased. Furthermore, key factors that drive growth of the passenger security equipment market include growing number of passengers in public transport networks. In addition, demand for more efficient crowd control and screening technologies are positively impacting growth of the passenger security equipment market. However, high implementation cost of passenger security equipment solutions hampers the market growth. On the contrary, increase in adoption of IoT in the field of public and passenger safety are expected to offer remunerative opportunities for expansion of the passenger security equipment market during the forecast period.
- On the basis of type, the fire safety and detection system segment dominated the overall passenger security equipment market in 2020, and is expected to continue this trend during the forecast period. This is attributed to growth in need for improved passenger safety standards in public places and the rising fear of terrorist threats. However, the people screening system segment is expected to witness highest growth, owing to growing terrorist activity at various airports and other stations and growing government initiatives for improving the security system across various transport stations.
Initial outbreak of COVID-19 resulted in some severe slowdowns for the passenger security equipment industry as social distancing and self-isolation policies implemented during the period of COVID-19 outbreak caused the travel and tourism industry to take a dip. According to an article published by the Organization for Economic Co-operation and Development (OECD) in June 2020, stated that the global travel and tourism sector shrank more than 50-80% during the initial stages of the pandemic. However, as the COVID-19 restrictions are being relaxed, passengers are expected to return, which in turn, is expected to aid development of the passenger security equipment industry post the period of the pandemic. For instance, as of January 2022, number of travelers crossing the Transportation Security Administration (TSA) checkpoints in the U.S. are already higher than both 2019 and 2021. Such positive trends are showcasing tourism getting back on track post the pandemic, which promises great opportunities for growth of the passenger security equipment market in the coming years.
Key findings of the Study
- By transport infrastructure, the airports segment accounted for the largest passenger security equipment market share in 2020.
- By region, Asia-Pacific generated highest revenue in 2020.
- By type, the fire safety and detection system segment generated the highest revenue in 2020.
Companies Mentioned
- Autoclear
- Axis Communications AB
- Bosch Sicherheitssysteme GmbH
- Honeywell International Inc.
- Kapsch TrafficCom AG
- L3Harris Technologies, Inc.
- Rapiscan Systems
- SITA
- Simens AG
- Smiths Group plc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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