Market Size of Airport Security Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 14.61 Billion |
Market Size (2029) | USD 22.98 Billion |
CAGR (2024 - 2029) | 9.49 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Airport Security Systems Market Analysis
The Airport Security Market size is estimated at USD 14.61 billion in 2024, and is expected to reach USD 22.98 billion by 2029, growing at a CAGR of 9.49% during the forecast period (2024-2029).
The COVID-19 outbreak has preceded one of the major challenges to the sustainability of the air travel industry at the worldwide level. Despite the decrease in revenues of the airport operators due to the impact of the pandemic, the authorities have continued to invest in implementing advanced screening, scanning, and security systems. With the passenger traffic projected to witness gradual recovery, the airport operators are expected to increase their investments in security systems in the coming years.
The increasing number of travelers and significant security enhancements for intercepting the threat of terrorist attacks in airports are some driving factors for the airport security systems market, and this trend is anticipated to continue over the forecast period.
The increasing airport construction and investments in airport infrastructure are further boosting the growth of the airport security systems market during the forecast period.
The increasing adoption of artificial intelligence, robotics, and biometrics in various security systems for detecting suspicious persons, credit cards, fake currencies, abandoned objects, and explosives without disturbing the passenger flow at the airport are anticipated to propel the growth of the market in the future.