USD 3983.25 million
Passenger Security Market Size, Share, Growth Analysis, By Equipment(Baggage Inspection Systems, Explosive Trace Detectors, Hand-Held Scanners, Walk-Through Metal Detectors), By End-User(Airport, Sea Port, Railway Station, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25AB2002 |
Region:
Global |
Published Date: July, 2036
Pages:
270
|Tables:
71
|Figures:
75
Passenger Security Market Insights
Global Passenger Security Market size was valued at USD 5.91 billion in 2022 and is poised to grow from USD 6.34 billion in 2023 to USD 11.06 billion by 2031, growing at a CAGR of 7.2% in the forecast period (2024-2031).
The expansion of the passenger security market is predicted to be fueled in the upcoming years by an increase in passenger traffic as well as significant technological advancements in screening technology and inspection systems. By analyzing the actions and motives of numerous tourists and visitors to the country, the airport authorities are enhancing security measures to monitor potential threats. The aviation industry is more crucial in terms of providing a safe and secure flight period due to high altitude traveling from one destination to another. Therefore, it is crucial to thoroughly inspect all passengers before embarking on a flight. The Transportation Security Administration (TSA) of the United States noted a 3% annual growth in the amount of checked baggage vs unscreened baggage. The passenger security market is expected to increase as a result of these factors.
Many nations, including the US, Canada, and Germany, are putting a lot of effort into technologically upgrading the current systems to reduce the risk of threats to the transportation infrastructure. For instance, the U.S. Transport Security Administration (TSA) has implemented measures to improve safety standards, such as the installation of 141 screening lanes throughout the 14 airports. Additionally, the TSA has installed cutting-edge imaging equipment, including x-ray systems and explosive trace detectors. In order to increase operational effectiveness, TSA is likely to upgrade the current security counters by installing luggage screening technology. During the forecast period, these crucial aspects are anticipated to drive the passenger security market.
US Passenger Security Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Airport
Fastest Growth
Sea Port
Growth Rate
6.91% CAGR
Global Passenger Security Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Passenger Security Market Segmental Analysis
The global passenger security market is segmented based on equipment, end-user, and region. Based on equipment, the passenger security market is segmented into baggage inspection systems, explosive trace detectors, hand-held scanners, walk-through metal detectors, full-body scanners, perimeter intrusion detection systems, video management systems, access control/biometric systems, bar-coded boarding systems, cyber security solution segments. On the basis of end-user, the market can be bifurcated into airport, sea port, railway station and other segments. The regional insights of the Passenger Security Market are into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Passenger Security Market Analysis by Equipment
A significant portion of passenger security market was dominated by the baggage inspection system segment. Throughout the predicted period, it is expected that this sector would maintain its dominant position. Every airport's infrastructure includes a system for screening passengers' luggage to find or seize any questionable goods like guns, weapons, drugs, or prohibited objects.
These screening systems use x-ray machines to produce high-resolution image processing features and detect substances like explosives, illegal drugs, and flammable liquids inside of objects. Due to its numerous advantages, including distinct semiconductor detection and high-resolution image detection systems, most nations, including the US, are moving toward the adoption of advanced image detection systems.
Passenger Security Market Analysis by End-User
The airport category has the largest market share, and it is estimated that it would maintain its hegemony over the coming several years. The market size of the aviation industry has grown significantly over the past several years as a result of consumers' strong preference for air transportation infrastructure. According to our study, reports that the revenue passenger kilometer increased by 4.2% from the prior year. Global capacity has expanded by 3%, and the international passenger market is expanding quickly at a rate of 4.1%.
A major factor influencing passenger growth is a rise in air travelers across a number of nations as a result of rising disposable income and reasonably priced airline tickets. During the projected period, these factors are estimated to fuel the market.
Global Passenger Security Market Size By End-User, 2021(%)
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Passenger Security Market Regional Insights
The largest passenger security market share was held by North America. Additionally, there are well-known producers of passenger security systems in the US. It might be attributed to the forecasted period's robust market expansion. Due to the abundance of producers of passenger security systems in the Asia Pacific region, the region holds second position.
Due to the high volume of air travelers in these areas, the Middle Eastern market is also expected to grow at a moderate CAGR. Additionally, it is anticipated that the market in the Middle East will be driven by the quick expansion of investment for luring tourists to succeed in the tourism sector in this region. The passenger security market in the rest of the world is also predicted to grow moderately as a result of the rise in international aviation passenger traffic.
Global Passenger Security Market By Geography, 2021 - 2028
- Largest
- Fastest
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Passenger Security Market Dynamics
Passenger Security Market Driver
- During the projected period, rise in the growth rate of passenger traffic, particularly in developing nations like China and India, is expected to fuel this passenger security market's expansion. The recent rapid expansion of the commercial aviation sector around the world has raised the need for various security measures at ports, railroads, and airports. The number of people being screened by specialized pieces of equipment, such as explosive detector systems, handheld scanners, full-body scanners, and metal detectors, has increased. The Transportation Security Administration (TSA) in the US manages about 440 airports nationwide. With 813.8 billion passengers screened, the TSA has the most passengers screened in the nation.
Passenger Security Market Restraint
- Due to strict government regulations and safety standards, OEM businesses accurately produce security systems all over the world. Airports, railroads, and other infrastructure are long-term locations for security equipment. These are used to continuously check a large number of travelers. To lower the chance of operational failure, OEM businesses are required to produce security products with high-quality hardware and components. Security system components and manufacturing costs are incredibly high, which drives up product costs overall.
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Passenger Security Market Competitive Landscape
The key elements driving the company's supremacy include a broad range of passenger security system products, greater investment in R&D for new product development, and strategic acquisitions. They are implementing both long- and short-term growth strategies, including mergers and acquisitions, the introduction of new products, long-term agreements with airport security organizations, and long-term connections with governing bodies.
Top Players in the Passenger Security Market
- Smiths Detection Group Ltd.
- Rapiscan Systems
- Honeywell International Inc.
- L-3 Communications Holdings Inc.
- Bosch Security Systems
- Siemens AG
- Alstom SA
- United Technologies Corporation
- Thales Group
- Safran SA
- Raytheon Company
- Lockheed Martin Corporation
- American Science and Engineering, Inc.
- OSI Systems, Inc.
- Nuctech Company Limited
- CEIA SpA
- Analogic Corporation
- Magal Security Systems Ltd.
- Leidos Holdings, Inc.
- Westminster Group Plc
Passenger Security Market Recent Developments
- In November 2021, a Memorandum of Understanding between Honeywell and Riyadh Airports Company was inked as a part of the support activities for the aviation sector. As part of the arrangement, Honeywell technology would enable the automation and combination of King Khalid International Airport, enhancing its airport transaction's safety, flexibility, and certainty while minimizing ecological conflict.
- In September 2021, a contract was negotiated by Rapiscan and Metrohm, a prominent manufacturer of precision instruments on a global scale. Through this partnership, Rapiscan's Instruments Business Unit would offer Metrohm handheld Raman spectrometer equipment throughout the world.
Passenger Security Key Market Trends
- During the projected period, the aviation sector is likely to be supported by rising airport development investment in a number of nations. In the upcoming years, the Asia Pacific is expected to see more than 400 new airport projects total. Around US$ 93 billion is expected to be invested in the development of new airports worldwide. Due to their growing air travel and foreign traveler populations, emerging nations like India, China, and Indonesia are expected to construct new international airports in the coming years. During the anticipated time, these elements are anticipated to drive the passenger screening system market's expansion.
Passenger Security Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global passenger security market is segmented based on equipment, end-user and regions. A significant portion of this market was dominated by the baggage inspection system segment. Throughout the predicted period, it is expected that this sector would maintain its dominant position. The airport category has the largest market share, and it is estimated that it would maintain its hegemony over the coming several years. The largest passenger security market share was held by North America. Additionally, there are well-known producers of passenger security systems in the US.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.91 billion |
| Market size value in 2031 | USD 11.06 billion |
| Growth Rate | 7.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Passenger Security Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Passenger Security Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Passenger Security Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Passenger Security Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Passenger Security Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Passenger Security Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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