World airport security equipment market to reach $131.7 billion by 2010
The threat terrorism poses for aviation, the increasing diversity of the means at their disposal, and the growing reliance on air travel combine to drive growth of airport security market
Driven by the threat of terrorism and the growing need to provide safety, comfort, and care to air passengers, the world airport security equipment market is projected to reach $131.7 billion by the year 2010. Development of new enabling technologies such as radio frequency identification (RFID) technology and biometrics are emerging as dominant forces driving growth in the market. What is more, with research and development investments on the rise, the global market is expected to witness the commercialization of new technologically advanced and upgraded products in the medium to long term.
A new study by San Jose, California-based Global Industry Analysts, titled “Airport Security Equipment: A Global Strategic Business Report,” says that the growth of air traffic is creating a need for an efficient security solution capable of safeguarding the entire airport network, from the outer perimeter to detect anomalies, to inside the airport to identify intruders and detect suspicious movements. The changing nature of security threats necessitates that security solutions that go beyond the conventional metal detection: Modern threats to aviation range from materials such as powders, ceramics, plastics, explosives, to liquids. This diversity has created demand for futuristic security solutions which address all threats on a seamlessly integrated platform and which are compatible with all routine airport processes.
The new report posits that the growth in the world airport security equipment market is led by perimeter and access control equipments, which are expected to post a robust CAGR of 19.5 percent and rise by $ 13.5 billion between the period 2007 to 2010. Within the perimeter and access control equipment market, biometrics equipment, as a product subsegment, is expected to drive growth by reflecting the potential to reach $12.5 billion by the year 2010. The fire and explosives detection market ranks as the largest product market in airport security, with market size averaging to $37 billion in the year 2006. The United States constitutes the largest market for airport security equipment, cornering a little over 37 percent share. In Europe, the second largest market, the digital surveillance equipment market, a part of the monitoring equipment market, stands poised to rise by $1.6 billion between the period 2007 to 2010. In Asia-Pacific, the fastest growing market worldwide, the perimeter control equipment market and X-ray and infrared equipment market, together are projected to reach $ 11.4 billion by 2010.
