Passenger Security Equipment Market Size Estimated to Observe Significant Growth During 2018 – 2025
The passenger security equipment market will witness significant growth in the European and Gulf region in the coming years, due to the increased terror attacks and ongoing political unrest in the regions, resulting into the stringent security regulations and deployment of the advanced security equipments at the public transport infrastructures (rail and bus), seaports and airports.
The airport passenger security equipment market is currently dominating the market followed by railways, due to the rapid increase in the global air passengers. According to the IATA, in 2015, about 3.5 billion air passengers travelled, whereas, in 2016, about 3.7 billion air passengers travelled. Hence, with the exponential increase in the global air travelers, the airport authorities are investing on the smart security solutions for the air passengers and to improve the operational efficiencies.
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The passenger screening systems are anticipated to witness steady growth during the forecast period. The purpose of the people screening systems at the transport infrastructure is to prevent the prohibited items such as sharp objects, weapons and explosives from carried into the aircraft, train, bus, or cruise ship. However, it is expected the upcoming security technologies such as use of robots for passenger screening, and video analytics will fuel the market growth in the coming years.
North America is expected to maintain its dominance throughout the forecast period, owing to the presence of key companies and high spendings on the security equipments by the regional governments. Moreover, LAMEA is anticipated to grow at the highest CAGR during the forecast period, owing to the high security threats in the region.
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The major players, such as Honeywell International, Orbocomm, L-3 Communications, Kapsch, Siemens AG, Rapiscan Systems, Rockwell Collins, Safran Group, Raytheon Group, and Smiths Group, have adopted new technology launch as their key strategy to expand their market foothold.
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