What is Passenger Security Equipment Market?
Passenger security equipment is used to protect passengers from accidental harms, crimes and any other threats. There are large number of people travels every day from one place to another with various modes of transportation. Thus it is a potential target for terrorist and other forms of crimes because of the number of people located in one place.
The market study is being classified by Type (Baggage Inspection System, Explosive Detection System, Video Surveillance, Intrusion Detection and Prevention System, Fire Safety & Detection System, People Screening Systems and Others), by Application (Airports, Train Stations, Bus Stations, Seaports and Others) and major geographies with country level break-up.
Honeywell International Inc. (United States), Smiths Detection Group Ltd. (United Kingdom), SITA (Belgium), Siemens (Germany), Rapiscan Systems (United States), Axis Communications AB (Sweden), FLIR Systems, Inc. (United States), Siemens AG (Germany), Raytheon Group (United States), Bosch Sicherheitssysteme GmbH (Germany) and L3 Security & Detection Systems (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Orbcomm (United States), Autoclear, LLC. (United States), Rockwell Collins (United States) and Safran Group (France).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Passenger Security Equipment market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Passenger Security Equipment market by Type, Application and Region.
On the basis of geography, the market of Passenger Security Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increased Number of Terror Attacks on Public Infrastructures
- Government Initiatives for Passenger Security
- Rising Disposable Income of the People in Developing Countries
Market Trend
- Growing Demand for Biometric Technologies
- Demand for Security Equipment with Improved Features
Restraints
- Lack of Awareness among People about Self-Security
Opportunities
- Increasing Number of Passengers Worldwide
- Increasing Investments of Various Governments on Security Equipment
Challenges
- High Installation Cost of the Equipment
On 29th April 2019, Smiths Detection Group Ltd. added weapon detection to the innovative iCMORE family of smart and adaptable object algorithm. iCMORE offers automatic detection of an ever-expanding list of dangerous, prohibited and contraband goods. It provides invaluable support for security operators, customs officers and other controlling authorities.
Key Target Audience
Passenger Security Equipment Manufacturers, Raw Material Suppliers/ Buyers, Component Supplier, Distributors, Government Body & Associations and End-user