Global Passenger Security Industry

Global Passenger Security Industry

  • April 2021 •
  • 283 pages •
  • Report ID: 6032447 •
  • Format: PDF
Abstract:
- Global Passenger Security Market to Reach $7.5 Billion by 2027
- Amid the COVID-19 crisis, the global market for Passenger Security estimated at US$5 Billion in the year 2020, is projected to reach a revised size of US$7.5 Billion by 2027, growing at a CAGR of 6% over the analysis period 2020-2027. Cybersecurity Solutions, one of the segments analyzed in the report, is projected to record a 6% CAGR and reach US$2.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Baggage Inspection Systems segment is readjusted to a revised 6.3% CAGR for the next 7-year period.
- The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 9.1% CAGR
- The Passenger Security market in the U.S. is estimated at US$1.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2027 trailing a CAGR of 9.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 5.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.
- Explosives Trace Detectors Segment to Record 6.5% CAGR
- In the global Explosives Trace Detectors segment, USA, Canada, Japan, China and Europe will drive the 6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$527 Million in the year 2020 will reach a projected size of US$793.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1 Billion by the year 2027, while Latin America will expand at a 7.8% CAGR through the analysis period.

- Select Competitors (Total 34 Featured) -
  • Autoclear, LLC
  • Axis Communications AB
  • Bosch Sicherheitssysteme GmbH
  • FLIR Systems, Inc.
  • Honeywell International Inc.
  • L3 Security & Detection Systems
  • Nutech
  • Orbcomm
  • Rapiscan Systems
  • Raytheon Group
  • Safran Group
  • Siemens
  • SITA
  • Smiths Detection Group Ltd.