Airport Security Market Size

Airport Security Market Size

Airport Security Market size valued at USD 15 billion in 2021 and is projected to grow at over 8% CAGR from 2022 to 2028.

Airport security focuses on building an ecosystem integrating security solutions, back-office, operators, security guards, military, and air traffic control. Airport authorities across regions are implementing practices in accordance with strict government regulations and guidance, supporting them in securing entry points in a country or state. The administration is deploying solutions such as cybersecurity, access control, surveillance, screening devices, real-time locating systems, and perimeter security bollards. Technology providers are integrating evolving technologies, such as AI, IoT & machine learning, with surveillance cameras & scanning devices for data transfer across multiple departments in a facility. Security scanning equipment industry is anticipated to grow at a CAGR of over 7% in the forecast period due to growing focus on infrastructure development and public safety.

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The introduction of new government rules and regulations to prevent terrorist attacks in various countries, such as Germany, Belgium & the UK, will drive the market growth for airport security solutions in the coming years. With increasing terrorism, governing administrations are emphasizing on taking security measures and enforcing laws for increasing the safety of the airports. To avoid attacks & incidents in the future, authorities in Europe have adopted & established rules on airport security.

The rising emphasis on system integration of different safety parameters will propel the airport security market expansion. For better site management, authorities are investing in comprehensive software. This factor has encouraged solution providers to focus on R&D activities to introduce new solutions. They are integrating smart technologies, such as the cloud and data analytics, to offer a holistic view of the facility. In addition, the in-built servers prevent data redundancy and increase security. It supports the organization in security management, rapid scalability, flexibility & improvement in performance.

The COVID-19 pandemic negatively impacted the revenue of market players in 2020. The airport security market witnessed a dip of around -10% in 2020. Due to the pandemic, government authorities imposed strict lockdown measures & travel restrictions. Furthermore, the closure of borders hindered the manufacturing, logistics & supply chain capabilities of several companies. The pandemic also resulted in labor shortages across various sectors in the market. Temporary restrictions on travel reduced the overall count of passengers opting for airways, thus impacting the total revenue. However, relaxation on lockdown regulations increased the daily traffic of airports across different regions in 2021, with market witnessing recovery in the last year.