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.