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

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.