Aviation securityRobust growth continues for aviation security industry
Existing threats, rising passenger numbers, and airport expansion projects mean that the global aviation security market will reach $22.3 billion in 2012
The latest revelations about the growing sophistication of the bombs developed by bomb-makers for Al Qaeda in the Arabian Peninsula (AQAP) serve to highlight the ever-evolving threats terrorists pose for global civilian aviation.
A new report from ReportLinker examines how the aviation security market has evolved in response to new threats faced by the aviation industry.
The events of 9/11 led to a re-examination of the then-existing airport security systems and technologies. More than a decade on, new legislation has been adopted, regulatory authorities established, and additional equipment installed at airport facilities throughout the world.
ReportLinker says that as demand for air travel continues to grow year on year, governments and aviation enforcement authorities face the need to adopt strict safety measures that will counter terrorist threats before they occur while limiting the inconvenience faced by the passenger. Existing threats, rising passenger numbers, and airport expansion projects mean that the global aviation security market will reach $22.3 billion in 2012.
The report, titled the Aviation Security Market 2012-2022, notes that the prevailing economic conditions faced by North America and Europe have meant that projected sales forecasts are restrained. The impact of these economic constraints to the overall aviation security industry, however, will be limited in the longer term as safety and security continue to remain a priority. Upgrades to existing security features and investment in R&D will help to maintain steady growth in these markets.
Elsewhere, growth within Asian aviation security markets such as China and India is forecast by Visiongain to be significant, while in the longer term, Middle Eastern spending on aviation security is expected to increase sharply to meet the demand for new technology systems.