Passenger Security Equipment Market Size Estimated to Reach $7.8 Billion by 2026

(IT-NEWSWIRE.COM, March 05, 2022 ) Passenger Security Equipment Market size is estimated to reach US$ 7.8 billion by 2026 at a CAGR 7.2% during the forecast period 2021-2026. The growth of passenger security equipment market is attributed to the rising demand for providing safety and securities to passengers for protecting against crimes, accidents, terrorist attacks or threats. Increasing growth in airline passenger traffic and developments in intelligent public transportation system have contributed to the growth of the market. Integrating new age digital technologies such as artificial intelligence (AI), machine learning (ML), edge computing with passenger security system to deliver smart security solutions ensuring seamless passenger journey, increased efficiency and reduced operational costs is anticipated to accelerate the market growth during 2021-2026. Rising adoption of biometric systems, intelligent baggage inspection system, video surveillance, people screening systems to track suspicious activity is boosting the market. Increasing Government investments towards the development of public transport infrastructure for ensuring safety and securities is estimated to boost the growth of Passenger Security Equipment Market.

Passenger Security Equipment Market Segment Analysis – By Type

By type, Passenger Security Equipment Market is segmented into baggage inspection system, video surveillance, intrusion detection & prevention system, Access control, fire safety detection & people screening system. Baggage screening system held the largest Passenger Security Equipment market share of 17% in 2020 and is estimated to dominate the market during the forecast period 2021-2026 owing to the growing demand for detecting concealed weapons or explosives to mitigate the terrorism threats. The in-line baggage screening system utilizing X-ray machines automates the whole scanning system complying with the safety and security norms to streamline passengers’ movement and thus optimizing efficiency and reducing time. Such advanced capabilities are augmenting the market. People screening is estimated to be the fastest-growing market during 2021-2026 due to the increasing integration of artificial intelligence with screening system in order to identify any illegal or unethical activities. In August 2020, Canberra Airport announced to install a new security screening system coupled with automatic algorithms to provide improvisation on screening of passengers and their carry-on luggage and meet the new regulations by government regarding security screenings at airports. Such technological advancements are augmenting the market.

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Passenger Security Equipment Market Segment Analysis – By End User

By end user, Passenger Security Equipment Market is segmented into airport, railway station, bus station and seaports. Airport sector dominated the market in 2020 with a major share of 37% is estimated to hold the major market share growing at the fastest CAGR 13.46% during the forecast period 2021-2026 owing to rising demand for enhancing and developing aviation security capabilities to protect against sophisticated threats in air transport. With the increasing number of terrorist attacks, the demand for screening passengers along with all belongings to mitigate the threat to commercial aviation has gained a huge traction. For instance, in June 2020, Smith’s Detection, a UK based company announced to supply HI-SCAN 10080 XCT CT scanners to Kuwait International Airport on completion of airport’s terminal 2 for scanning of baggage and cargo passing through the terminal. Such developments are analyzed to accelerate the market during 2021-2026.

Passenger Security Equipment Market Segment Analysis – By geography

By Geography, Passenger Security Equipment Market is segmented into North America, Europe, APAC, douth America and RoW. North America dominated the market acquiring a share of 33% in 2020 and is estimated to hold the major Passenger Security Equipment market share during 2021-2026 owing to high government expenditure towards advanced security techniques in public infrastructure and rising illegal activities in airports, seaports or train stations. In February 2021, the government of Canada announced to invest US$15 Billion towards public transit projects over the next 8 years. APAC is estimated to be the fastest-growing market during the forecast period 2021-2026 owing to rising developments in airport infrastructure and continuous growth in air passenger traffic due to changing demographics and increasing disposable incomes. According to reports, Indian government unveiled its plan to expand air connectivity network by constructing 100 greenfield airports by 2024. Such massive airport infrastructure expansion plans are estimated to significantly trigger the market growth during the forecast period 2021-2026.

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Passenger Security Equipment Market Drivers

Growth in terror attacks on public transport infrastructure

Public infrastructure is persistently at high risk from numerous man-made hazards or threats such as terrorist attacks, illegal or unethical activities and these threats can cause severe damages to public transport infrastructure leaving a devastating impact on economy worldwide. Increasing demand for protecting critical infrastructure against rising terrorist attacks has contributed to the growth of the market. In July 2020, ARST, a public transport company in Italy announced to deploy new centralized CCTV systems, emergency buttons collaborating with Dahua mobile solution to enhance the security levels of passengers revamping its bus security solutions. Data collected from the installed cameras is integrated in control room which assists in real-time vehicle tracking and monitoring. In November 2020, Hamad International Airport announced to advanced passenger screening checkpoint technology in a partnership with Smiths Detection using Computed Tomography (CT) X-Ray allowing more real-time assessments. Such innovations are set to drive the market during the forecast period.

Increasing adoption of Biometric solutions in airport

Increasing penetration of biometric check-ins at airports using biological characteristics to verify and validate passengers’ identities by cross-checking data with intelligence database is set to drive the market during the forecast period 2021-2026. Rising adoption of facial recognition technologies, retinal scans, fingerprint access control to simplify and speed up departure process leveraging accurate computer algorithms to strengthen airport security system is accelerating the market. Increasing investments of airport authorities towards contactless passenger processing has also contributed to the growth of the market. For instance, in July 2020, Iris ID announced the partnership with Securiport to implement its biometric iris recognition technology in airport security to authenticate the passengers’ ID at airports enhancing convenience and safety and assisting authorities in preventing criminal movement and activities. Such partnerships are analyzed to stimulate the market growth during 2021-2026.

Passenger Security Equipment Market Challenges

Biometric data security concerns

Enterprises that adopt biometric authentication lead into data breaches owing to misconfigured databases and services and thus hampering the adoption. Collection or storage of biometrics should be under strict and stringent regulations as databases of biometric information have become targets for cyber-terrorists or hackers. Various incidents of unauthorized access or identity thefts such as fingerprint cloning are analyzed to impede the market growth during the forecast period 2021-2026. However, significant investments on cyber security is set to offset this challenge and promote healthy growth during the later stages of the forecast period 2021-2026.

Passenger Security Equipment Market Landscape

Product innovations, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Passenger Security Equipment market. In 2020, the market of Passenger Security Equipment industry outlook has been fragmented by several companies. Passenger Security Equipment top 10 companies include Smiths Detection Group Ltd, SITA, Lockheed Martin Corporation, Honeywell International Inc., L3 Security and Detection Systems, Autoclear, LLC, Advanced Perimeter Systems Ltd., Axis Communications, AB, Adani Systems Inc., FLIR Systems, Inc. among others.

Acquisitions/Product innovations

In February 2021, Madrid Airport announced to pilot face biometric from Thales to identify and authenticate passengers to deliver a safe and contactless airport experience.

In July 2020, NEC Corporation announced an aviation partnership with SITA to accelerate digital identity platform at Airports.

Key Takeaways

Airport sector is estimated to hold the largest passenger security equipment market share during the forecast period 2021-2026 owing to increasing adoption passenger safety measures to mitigate terrorist attacks at airport.

North America is estimated to dominate the market during 2021-2026 owing to high investments towards advanced security platforms.

Increasing threats and terrorist attacks on public transport infrastructure and rising penetration of biometric security solutions are estimated to drive the market from 2021 to 2026.

Biometric data security issues is one of the challenges impeding the growth of the market.

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Passenger Security Equipment Market Size Estimated to Reach $7.8 Billion by 2026