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Growing Passenger Volumes and Advanced Threats Spur Global Airport Security Technology Market Says Frost & Sullivan - Screening will be the greatest market opportunity as old systems are replaced, says Frost & Sullivan - Defense.Frost.com
Growing Passenger Volumes and Advanced Threats Spur Global Airport Security Technology Market Says Frost & Sullivan

 

PRZOOM - /newswire/ - London, United Kingdom, 2015/02/26 - Screening will be the greatest market opportunity as old systems are replaced, says Frost & Sullivan - Defense.Frost.com.

   
 
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Effective security technologies and systems are still in demand among airport operators as increasing passenger volumes place new strains on existing infrastructure. The unrelenting threat of terrorism and crime plaguing the global landscape leave airport operators with no choice but to invest in robust security technologies. While the mature European and North American airport security technology markets will witness incremental growth, markets in the developing regions will undergo a more substantial uptrend.

New analysis from Frost & Sullivan, Global Airport Security Technology Market Assessment, finds that the market earned revenues of $8.22 billion in 2014 and estimates this to reach $12.67 billion by 2023. The study covers the segments of perimeter security, command, control and integration, cybersecurity, communications, surveillance, access control, and screening. Cutting-edge technologies in the screening, big data and integration markets are particularly driving upgrades and new investments in the airport security market. Over the next 20 years, however, cybersecurity spending will rise at the fastest pace.

For complimentary access to more information on this research, please visit: corpcom.frost.com/.

“International and domestic aviation legislation is fuelling the procurement of security technologies in airports,” said Frost & Sullivan Aerospace & Defense Research Analyst Robert Haddon. “International and domestic organisations such as the European Civil Aviation Conference and the United States (US) Transport Security Administration are exerting influence in setting airport security standards in key regions, lending further pace to market development.”

On the other hand, budgetary constraints have been an obstacle to market growth. Combined with this, the effectiveness of existing legacy systems in combating current threats have discouraged airport operators from purchasing new solutions that fail to demonstrate a tangible return on investment.

“Clearly, the market for airport security technologies is highly reactive in that it only looks to address known threats rather than prevent unknown threats alongside,” noted Haddon. “Once end users adopt a more proactive approach to dealing with evolving threats, the airport security technology market will witness more traction.”

Technology providers should roll out intelligent and integrated security solutions that stimulate additional airport efficiencies such as smarter and enhanced speed of travel through the site. As competition in the global airport security market has been rising over time, strategic partnerships and acquisitions have also become important means to success for companies in this space.

Global Airport Security Technology Market Assessment is part of the Security (defense.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: 2014 Border Control & Biometrics Market Assessment, Global Military Helicopters Market Assessment, US Airport Screening Technologies, and Global Commercial Avionics Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.

The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us: Start the discussion | Join Us: Join our community | Subscribe: Newsletter on “the next big thing" | Register: Gain access to visionary innovation

Global Airport Security Technology Market Assessment / MA87-23

 
 
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Growing Passenger Volumes and Advanced Threats Spur Global Airport Security Technology Market Says Frost & Sullivan

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Frost & Sullivan | Global Airport Security
Contact: Edyta Grabowska - Frost.com 
+48 22 481 62 03 edyta.grabowska[.]frost.com
 
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