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North American Airport Security Equipment Market - Investment Analysis and Growth Opportunities

Frost & Sullivan
November 21, 2005
SKU: MC1190037

Abstract Table of Contents Related Reports

Countries covered: North America

Frost & Sullivan's Aerospace Financial Benchmarking and Analysis (FBA) service presents a broad financial outline of the aerospace industry, highlighting major market and financial trends in key growth segments. It provides a comprehensive financial analysis of the leading aerospace firms to support the investment and financial analysis needs of decision makers in the aerospace arena. The current study within the service focuses on the North American airport security equipment industry, including the following key growth segments: access and perimeter control, alarms and sensors, biometrics, CCTV, digital surveillance, metal detectors, intercom and video door phones, x-ray and infrared ray equipment, fire explosives detection, and integration.

Smaller Companies Struggling to Keep Pace With Technology Innovation

It is estimated that the top ten companies in the airport security equipment industry account for almost 66% of the total research and development (R&D) expenditure in the market. Of the companies in Frost & Sullivan’s Airport Security Equipment Universe, the large companies have reported higher R&D than their small counterparts.

Larger companies, such as L3 Communication and Bioscrypt, invest as much as 12-18% of their revenues on R&D. As a result, there is a significant challenge for the small companies (who have ventured in the market mainly post-9/11) to pick up the pace and invest higher amounts in R&D in order to ensure survival in an increasingly competitive market.

North American Market Shows Promising Potential

In 2005, it is estimated that 81.3 percent of the Transportation Security Administration’s (TSA’s) budget will be devoted to aviation security. Additionally, for 2006, the TSA has requested $4.98 billion from the federal government for the cause. As a result of this spending, there are various opportunities in the U.S. market, as it forms 40% of the $69 billion world market for aviation services.

1. Executive Summary
1. Executive Summary
1. Executive Summary

2. Introduction and Methodology
        1. Introduction
                1. Introduction
                2. Methodology

3. Industry Fundamentals and Growth Opportunities
        1. Market Overview and Industry Fundamentals
                1. Introduction
                2. Market Overview
                3. Industry Economics
        2. Segment Analysis
                1. Introduction
                2. Perimeter and Access Control
                3. Monitoring Equipment
                4. Others and Multi-Segments
                5. Fire and Explosives Detection
        3. Investment Analysis and Growth Opportunities
                1. Investment Themes
                2. Value Chain Analysis
                3. Sector Scorecard
                4. Company Scorecard
                5. Frost & Sullivan Growth Monitor

4. Financial Benchmarking Analysis
        1. Frost & Sullivan Airport Security Universe
                1. Industry Classification
        2. Industry Profitability
                1. Year Over Year Sales Growth (Y-O-Y)
                2. Research and Development (R&D)
                3. Operating Profit Margin
                4. Operating Cash Flow
                5. Return on Equity (ROE) and Return on Assets (ROA)
        3. Industry Returns
                1. CANSLIM model
        4.Valuation
                1. Historical Valuation Based On Sales & Profitability
                2. Year-to-Date Stock Performance
                3. Frost & Sullivan Airport Security Equipment Stock Index
                4. Historical and Current Mergers & Acquisition (M&A) Valuation
                5. EPS Impact
                6. Industry Growth Outlook
                7. Private Equity/Venture Capital Activity

List Of Figures

Chapter 3

Airport Security Equipment Industry: Sector Scorecard (North America), 2004
Airport Security Equipment Industry: Company Scorecard (North America), 2004
Airport Security Equipment Industry: Growth Monitor (North America), 2004

Chapter 4

Airport Security Equipment Industry: Year-over-Year Sales Growth Across Different Companies and Segments (North America), 1998-2004
Airport Security Equipment Industry: Research and Development to Sales Across Different Companies and Segments (North America), 1998-2004
Airport Security Equipment Industry: Operating Profit Margin Across Different Companies and Segments (North America), 1998-2004
Airport Security Equipment Industry: Operating Cash Flows Across Different Companies and Segments (North America), 1998-2004
Airport Security Equipment Industry: Return on Equity for Different Companies and Segments (North America), 1998-2004
Airport Security Equipment Industry: Return on Assets for Different Companies and Segments (North America), 1998-2004
Airport Security Equipment Industry: Mergers and Acquisitions (North America), 1997-2005
Airport Security Equipment Industry: EPS exposure and Impact (North America), 2005
Airport Security Equipment Industry: EPS Guidance and PE Impact for Companies That Derive at Least 20 Percent of Their Revenues from Airport Security Equipment (North America), 2005
Airport Security Equipment Industry: EPS Guidance for Next Fiscal Year (North America), 2005
Airport Security Equipment Industry: Recent Venture Capital Deals in the Airport Security Equipment Industry (North America), March 2002 to October 2005

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North American Airport Security Equipment Market - Investment Analysis and Growth Opportunities

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