Driven by the ever-present 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 US$131.7 billion by the year 2010. Development of novel enabling technologies, such as, radio frequency identification (RFID) technology, and biometrics, are emerging into dominant forces igniting growth in the market. With research and development investments on the rise, the global market is expected to witness the commercialization of new technologically advanced and upgraded products in the medium to long-term.
San Jose, CA (PRWEB) July 23, 2007 -- The rise in air traffic is creating an acute need for an efficient security solution capable of safeguarding the entire airport network, right from the outer perimeter to detect anomalies, to inside the airport to identify intruders and detect suspicious movements. The changing facets of security threats are additionally necessitating the need for security solutions that go beyond the conventional metal detection. In addition to metal weapons, the diversity of modern threats range from materials such as powders, ceramics, plastics, explosives, to liquids, among others. This has fashioned demand for futuristic security solutions, which address all threats on a seamlessly integrated platform, compatible with all routine airport processes. RFID based security systems offer optimal, and dual protection against both criminal offence and operational inefficiencies such as errors in passenger data collection, and verification. Biometric based solutions, i.e. fingerprinting and iris recognition, extend foolproof passport verification, centralized identity management, and physical and logical access controls.
As stated by the recent report published by Global Industry Analysts, Inc., growth in the world airport security equipment market is led by perimeter and access control equipments, which are expected to post a robust CAGR of 19.5%, and rise by US$ 13.5 billion between the period 2007 to 2010. Within the perimeter and access control equipment market, biometrics equipment, as a product sub-segment, is expected to drive growth by reflecting the potential to reach US$12.5 billion by the year 2010. Fire and explosives detection market ranks as the largest product market in airport security, with market size averaging to US$ 37 billion in the year 2006. The United States constitutes the largest market for airport security equipment, cornering a little over 37% share. In Europe, the second largest market, digital surveillance equipment market, a part of the monitoring equipment market, stands poised to rise by US$1.6 billion between the period 2007 to 2010. In Asia-Pacific, the fastest growing market worldwide, perimeter control equipment market and x-ray and infrared equipment market, together are projected to reach US$ 11.4 billion by 2010.
Leading global and regional players operating in the industry include Assa Abloy AB, Bioscrypt Inc, BioWise N.V., Bosch Security Systems GmbH, GE Security Inc., Group 4 Securicor plc, Honeywell International Inc., L-1 Identity Solutions Inc., L-3 Communications Holdings Inc, Raytheon Company, Siemens AG, Thermo Fisher Scientific Inc., EyeTicket Corp., Geoquip Ltd, Future Fibre Technologies Pty Ltd, Dartagnan Biometric Solutions, Electronics Corporation of India Limited, and Magal Security Systems Ltd, among others.
The report titled "Airport Security Equipment: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of technology trends, market drivers, issues, and challenges. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in key product segments. Product markets analyzed in the report include Fire and Explosives Detection (Explosives Detection, X-ray and Infrared Equipment, and Metal Detectors), Perimeter and Access Control Equipment (Perimeter Control, Biometrics Equipment, and Alarms and Sensors), Monitoring Equipment (Digital Surveillance, Intercom and Video Door Phones, and CCTV). Latent demand patterns in product markets are quantified across major geographic market verticals including the United States, Canada, Japan, Europe, and Asia-Pacific, among others. Also provided in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.
For more details about this research report, please visit http://www.strategyr.com/MCP-1538.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
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Web Site www.StrategyR.com
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