Global Transportation Safety and Transportation Security Market to Reach US$128.6 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Transportation Safety and Transportation Security estimated at US$68.1 Billion in the year 2020, is projected to reach a revised size of US$128.6 Billion by 2027, growing at a CAGR of 9.5% over the period 2020-2027.
The U.S. Accounts for Over 29.6% of Global Market Size in 2020, While China is Forecast to Grow at a 8.9% CAGR for the Period of 2020-2027
The Transportation Safety and Transportation Security market in the U.S. is estimated at US$20.2 Billion in the year 2020. The country currently accounts for a 29.64% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$22.3 Billion in the year 2027 trailing a CAGR of 8.9% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.8% and 7.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.7% CAGR while Rest of European market (as defined in the study) will reach US$22.3 Billion by the year 2027.We bring years of research experience to this 9th edition of our report. The 108-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Alstom SA
- Honeywell International, Inc.
- Kapsch AG
- L3 Technologies, Inc.
- Lockheed Martin Corporation
- ORBCOMM, Inc.
- Rapiscan Systems
- Raytheon Company
- Rockwell Collins, Inc.
- Siemens AG
- Smiths Group PLC
- Thales S.A.
- United Technologies Corporation (UTC)