Global Seaport and Airport Security Systems Market 2017-2021
About Seaport and Airport Security Systems
Airways and seaways are some of the growing modes of transport. The major purpose of sea transport is the shipment of goods and services, along with passenger travel. Shipping plays a crucial role in the trade of various products for export as well as import as in various nations, more than 75% of the trade is carried out through seaways. Air transport plays a vital role in the transport of passengers and goods. The growing traffic congestions in roads have resulted in people switching to other modes of transport such as the seaways and airways.
Ports and airports are vulnerable to terrorist attacks and criminal activities. The susceptibility of airports and seaports to terrorist activities has been on the rise. The growth in passenger footfalls and goods shipment has led to airports and seaports being major targets for attacks. The rising concerns in terms of security and safety have boosted the need for implementation of better security systems in airports and seaports that are major points of contact for airplanes and ships.
Technavio’s analysts forecast the global seaport and airport security systems market to grow at a CAGR of 8.46% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global seaport and airport security systems market for 2017-2021. To calculate the market size, the report considers the revenue generated by different vendors through the sales of security systems for airport and seaport. The different product offerings can be divided into video surveillance, screening, access control, and others. The others segment includes perimeter intrusion detection and real-time location systems.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Seaport and Airport Security Systems Market 2017-2021
Technavio recognizes the following companies as the key players in the global seaport and airport security systems market: Bosch Group, FLIR Systems, Honeywell International, and Siemens
Other Prominent Vendors in the market are: Saab, Tyco International, Raytheon, HCL Infosystems, L3 Technologies, and Unisys.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is New innovations and product developments. The vendors developing security systems have been heavily investing in developing products that are upgraded with the latest technology and provide the necessary features to withstand growing sophistication of attacks. For example, in 2016 FLIR Systems, a major vendor offering security solutions invested $147 million in research and development (R&D).”
According to the report, one of the major drivers for this market is Growing air traffic. Over the years there has been an increase in the air traffic across the world. Due to increasing demand, the number of airports around the world are growing. The airports have started investing in the expansion of airports to accommodate this growing demand. There is a strong passenger demand across the globe for airports, with the industry-wide revenue passenger kilometers growing more than 7% in 2016 when compared to 2015.
Further, the report states that one of the major factors hindering the growth of this market is Relying on old technologies. Some of the seaport and airport authorities have still been relying on old security systems. They follow manned security measures for the manual inspection of baggage and physical inspection of passengers. This results in the probability of flaws in the inspection systems to be high.
Bosch Group, FLIR Systems, Honeywell International, and Siemens, Saab, Tyco International, Raytheon, HCL Infosystems, L3 Technologies, and Unisys.
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