Passenger Security Market to Undertake Strapping Growth during 2030

 

Passenger Security Market: Introduction

• Passenger security refers to the strategies and systems utilized to ensure safety and security of passengers from wrongdoing; unintentional, noxious disruption; and dangers to voyagers, teams, aircrafts, ships, and other transportation modes/stations. In addition, passenger security equipment is used to provide protection to passengers from crimes, accidental harm, and other threats.
• Throughout the COVID-19 outbreak, the priority of governments has been to minimize the risk of infection during the passenger journey, implementing measures that include maintaining physical distance between passengers, low contact passenger touchpoints, and reducing face-to-face interaction as much as possible. This is expected to accelerate the passenger security market. In addition, transportation security administration of developed and developing countries are adopting continuous security operations during the COVID-19 pandemic, so as to provide information and resources to assist passengers who travel during this time. This in turn is expected to boost the growth of the passenger security market across the globe.

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Global Passenger Security Market: Market Dynamics

• Rising investment in procurement activities and government funding for airports, seaports, and railway stations in developed and developing countries across the world due to increasing passenger traffic is anticipated to propel the growth of the global passenger security market.
• Growing adoption of advanced technologies that includes artificial intelligence, data analytics, blockchain, and biometrics, in order to provide superior security to passengers is expected to fuel the growth of the market.
• Replacement of outdated security screening equipment across airports, railway stations, and bus stations is expected to boost the growth of the global passenger security market.
• Increasing incidences of terrorism and suspicious activities across the globe is also expected to drive the growth of the market.
• However, rising security threats and cyber-attacks can restrain the growth of the passenger security market.

North America to Account for Major Share of the Global Passenger Security Market

• On the basis of region, the global passenger security market can be divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa.
• North America is anticipated to lead the global passenger security market, due to expenditure on passenger security equipment by governments in the U.S and Canada. This factor accelerates the growth of the passenger security market in the North America region.
• Europe is anticipated to be a growing market for passenger security and is projected to experience high CAGR during the forecast period, due to growth in terrorism and illegal and unethical activities at airports, bus stands, train stations, and seaports in the region.
• The passenger security market in Asia Pacific is expected to hold significant share due to moving demographics and rise in disposable income in developing countries such as India and China. Besides, rising demand for air transportation has led to new airport expansion and growth of existing airports, which in turn is expected to trigger the growth of the market across Asia Pacific.

Global Passenger Security Market: Competitive Landscape

Key Players Operating in the Global Passenger Security Market

Companies operating in the passenger security market are increasingly investing in research and development to develop new and innovative techniques to provide passenger security solutions and services. The passenger security market is highly fragmented with the presence of numerous manufacturers in both developed and developing regions. Key players operating in the global passenger security market include:

• Adani Systems Inc.
• Advanced Perimeter Systems Ltd.
• ATMLAX
• Autoclear, LLC.
• Axis Communications AB.
• Bosch Sicherheitssysteme GmbH
• C.E.I.A. SPA
• Flir Systems, Inc.
• Honeywell International Inc.
• L3 Security & Detection Systems
• Navtech Radar
• Rapiscan Systems
• Sensurity Ltd.
• Siemens AG
• Smiths Detection Group Ltd.

Global Passenger Security Market: Research Scope

Global Passenger Security Market Segmentation, by Security Solution

• Baggage Inspection Systems
• Bar-coded Boarding Systems
• Access Control/Biometric Systems
• Perimeter Intrusion Detection Systems
• Full-body Scanners
• Walk-through Metal Detectors
• Hand-held Scanners
• Explosive Trace Detectors

Global Passenger Security Market Segmentation, by End-user

• Commercial Airports
• Seaports
• Bus Stations
• Railway Stations

Alternative Keywords:

• Passenger Security Solution
• Airport security solutions

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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