Global Airport & Marine Port Security Market expected to reach at USD 106.7 Bn by end 2026

Stringent regulations and rigorous security measures adopted by the various government is expected to drive the growth of the airport & marine port security market.The global airport & marine port security market was valued at USD 58.6 billion in 2018 and is expected to reach at USD 106.7 billion, growing at a CAGR of 7.8% from 2019 to 2026.

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Global airport & marine operators are investing substantially to enhance airport capacity, security and performance for seamlessly operate international airports and support the safe movement of personnel, foreign trade and economic development. It is anticipated that this investment will reflect in the growing demand for airport & marine port security over the forecast period.

The demand for the airport & marine port security is primarily backed by the regulations and rigorous security measures adopted by the various government in the wake of growing terrorism. Various government agencies and aviation associations are taking immediate and appropriate steps to respond to the terrorist attacks and the new era in world commerce that followed the attacks. Moreover, the adoption of new technologies, such as perimeter intrusion detection, screening & scanning, cyber security, security barriers, access control & visitors management, and radar & digital video surveillance is expected to further enhance the market size. Multiple investment opportunities are anticipated in the global market for manufacturers in the coming years. The airport & marine port security is seeing rapid global deployment and adoption due to the growing terrorism threats, growing cross-border conflicts, and geopolitical tensions between nations.

However, Challenge in upgrading the existing security systems and the major cost associated with this is a major factor which is expected to hamper the growth of the global airport & marine port security market during the forecast period.

Key Findings:

• Based on port type, the airport segment is expected to dominate the market with nearly 76.8% share in the global airport & marine port security market in 2018
• Based on offerings, the service segment accounts of the largest share in the market and is expected to grow at a CAGR of around 7.6% during the forecast period.
• Based on application, the radar & digital video surveillance segment accounts of the largest share in the market and held for more than 31% of the total market in 2018.
• North America accounted for nearly 35.5% share of the global airport & marine port security market in 2018.

Recent News:

• In August 2019, The Port of Long Beach has awarded a US$ 4,777,500 grant by U.S. Department of Homeland Security’s FEMA to upgrade cybersecurity, cameras and sensors around the harbor, and upgrade fibre and wireless network infrastructure.
• In March 2019, Johnson Controls, has been awarded contract to install CEM Systems AC2000 Airport access control solutions to secure the new Bahrain International Airport.
• In May 2018, FLIR Systems introduced its next-generation outdoor perimeter security cameras, FLIR Saros™. This would help to combine multiple traditional perimeter protection technologies into a unified solution.
• In February 2018, Smiths Detection received a multi-million contract by Airports Authority of India to boost aviation security. The contract included installation of multiple CTX 9800 DSiTM systems at a combined value of over USD50 million