From $58.4 Billion to $132.2 Billion : Passenger Security Equipment Market Trends (2021–2030)

WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 17, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Passenger Security Equipment Market,” The global passenger security equipment market was valued at $58.4 billion in 2020, and is projected to reach $132.2 billion by 2030, growing at a CAGR of 8.6% from 2021 to 2030.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/2860

The main objective of passenger security equipment at public transportation infrastructures is to keep forbidden and potentially dangerous things including sharp objects, firearms, and explosives from being transported into airplane, train, bus, or cruise ship. Apart from physical passenger screening using metal detectors, x-ray screening equipment and millimeter wave security screening technologies are employed. Following the recent terror incidents in Europe and the Gulf, the need for innovative security solutions has increased. Furthermore, key factors that drive growth of the passenger security equipment market include growing number of passengers in public transport networks. In addition, demand for more efficient crowd control and screening technologies are positively impacting growth of the passenger security equipment market. However, high implementation cost of passenger security equipment solutions hampers the market growth. On the contrary, increase in adoption of IoT in the field of public and passenger safety are expected to offer remunerative opportunities for expansion of the passenger security equipment market during the forecast period.

On the basis of type, the fire safety and detection system segment dominated the overall passenger security equipment market in 2020, and is expected to continue this trend during the forecast period. This is attributed to growth in need for improved passenger safety standards in public places and the rising fear of terrorist threats. However, the people screening system segment is expected to witness highest growth, owing to growing terrorist activity at various airports and other stations and growing government initiatives for improving the security system across various transport stations.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/passenger-security-equipment-market/purchase-options

Region wise, the passenger security equipment market size was dominated by Asia-Pacific in 2020, and is expected to retain its position during the forecast period, owing to growing government spending on advanced passenger security equipment by developing regions in the region such as the China, India and other countries and to provide greater security for its citizens is predicted to fuel market expansion within the region.

Initial outbreak of COVID-19 resulted in some severe slowdowns for the passenger security equipment industry as social distancing and self-isolation policies implemented during the period of COVID-19 outbreak caused the travel and tourism industry to take a dip. According to an article published by the Organization for Economic Co-operation and Development (OECD) in June 2020, stated that the global travel and tourism sector shrank more than 50-80% during the initial stages of the pandemic. However, as the COVID-19 restrictions are being relaxed, passengers are expected to return, which in turn, is expected to aid development of the passenger security equipment industry post the period of the pandemic. For instance, as of January 2022, number of travelers crossing the Transportation Security Administration (TSA) checkpoints in the U.S. are already higher than both 2019 and 2021. Such positive trends are showcasing tourism getting back on track post the pandemic, which promises great opportunities for growth of the passenger security equipment market in the coming years.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

By transport infrastructure, the airports segment accounted for the largest passenger security equipment market share in 2020.

By region, Asia-Pacific generated highest revenue in 2020.

By type, the fire safety and detection system segment generated the highest revenue in 2020.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/2860

The key players profiled in the passenger security equipment market analysis are Autoclear, Axis Communications AB, Bosch Sicherheitssysteme GmbH, Honeywell International Inc., Kapsch TrafficCom AG, L3Harris Technologies, Inc., Rapiscan Systems, SITA, Simens AG, and Smiths Group plc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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