Frost & Sullivan expects that these markets will grow steadily until 2016, stimulated by increased spending on upgraded screening systems, rapidly growing air traffic and stringent airport security regulations.
Two new reports from Frost & Sullivan (aerospace.frost.com), Airport Passenger Screening Security EU Accession States Market and Airport Baggage and Cargo Screening Security EU-Accession States Market find that mounting security regulations, coupled with an escalation in traffic and throughput in EU accession state airports, will stimulate market development. The passenger screening market earned revenues of $22.0 million in 2008 and is expected to reach $209.0 million by 2016, while the baggage and cargo screening market earned revenues of $16.0 million in 2008 and will likely reach $187.0 million by 2016.
"Over the next seven years, airport terminal upgrades and extensions in Poland, Romania, the Czech Republic, Slovakia and Bulgaria will increase passenger traffic and baggage/cargo throughput to more that 90 per cent of current capacity," explains Frost & Sullivan Consulting Analyst Abdallah Binmadhi. This will boost demand for leading-edge technology solutions that expedite the security clearance and comply with European airport security regulations."
However, the economic downturn may temper growth rates, temporarily thwarting investments in airport-screening technology. To offset this, "companies should create strategic partnerships; Tier 1 companies are already consolidated in the market but Tier 2 and Tier 3 companies can outsource many of their products," concludes Binmadhi. "In this highly fragmented market, partnerships and alliances are essential for market entry." Most airport operators have already established business relations with screening technology companies. Airport authorities and private operators will be keen on acquiring integrated solutions from a single source.
Airport Baggage and Cargo Screening Security EU-Accession States Market and Airport Passenger Screening Security EU-Accession States Market Assessment are part of the Defence Growth Partnership Services programme, which also includes research in the following markets: Middle East Oil & Gas Infrastructure Security Market, European Sea Port Security Market, Indian Land-based Live, Constructive and Virtual Training and Simulation Market and, European Sea C2 Markets. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Airport Baggage and Cargo Screening Security EU-Accession States Market / M2F1
Airport Passenger Screening Security EU-Accession States Market / M2BE