World Airport Security Equipment Market to Reach US$288.7 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Airport Security Equipment market. Demand for airport security equipment worldwide is projected to reach US$288.7 billion by the year 2015. The ability of manufacturers to provide comprehensive protection from rising security threats, ensure compliance with new airport regulations and optimize security solutions at reduced costs will shape the future course of the market.

Airport Security Equipment: A Global Strategic Business Report

Security measures, either social or national, are typically shielded and less exposed to economic conditions in comparison with other business investments, a prime reason that makes airport security equipment one of the lone global bright spots amid the gloom and doom. This is primarily because governments and although to a lesser degree the airline industry, is critically required to remain agile, and make focused investments in addressing security issues and threats of terrorism. For instance, the rise in the use of commercial airplanes as vehicles to stage assault and wreak havoc, and the rise in in-bound terrorism in developing countries, has put the airline industry under perpetual pressure to upgrade and ensure efficiency of existing security measures. Despite the recession having taken a huge bite out of the global airline traffic volumes, the focus on airport infrastructure investment has and will remain unchanged, given that investments in airport security equipment are closely tied to airspace safety, airport security and most importantly passenger safety. Continued neglect of airport security, as a result of the financial pressure exerted by the recession is, therefore, seen as highly unlikely especially against a backdrop where international air transport is considered a world system and an indispensable component of world business globalization, the safety of which cannot be undermined.

The market, although resilient, is however not completely immune to the recessionary blues. The sputtering world economy undeniably derailed a number of security projects at airports across the world thus causing the market to lose a little steam. Project postponements, shelving, delays and cancellations were largely the result of the recession squarely leveling its blow on financial stability and capital availability. Declines in air traffic volumes and financial woes induced airport authorities to focus on surviving the crisis, and as a result the passion for security measures cooled, although temporarily and mostly as a knee jerk reaction to the economic climate. However, fears and concerns that cutbacks in existing security measures could increase the risk of future terrorist acts that could further devastate the already battered industry, prevented deep budgetary cuts.

The importance in public confidence can be put into perspective by the fact that the 9/11 terrorist attacks on the US economy, pushed the airline industry into its steepest business trough ever witnessed or recorded. The aftermath of the attacks was broken public confidence, massive, large-scale cancellation of flights, and steep declines in air travels. Given that the viability of the airline industry very critically hinges onto public confidence in air travel, restoration and building of the same therefore requires committed investments in protecting airports. A steady and consistent focus on infrastructure development therefore acts as a buffer against the downturn. Government investments in regional aviation infrastructure projects such as new airports and terminal facilities, which are lesser sensitive to the economic recession, have largely helped sustain performance during the last two years, thus stemming any embarrassing fall in revenues.

The business case for airport security equipment, therefore, goes beyond the current temporary weakness in market climate. With the recession at its tail end and the global economy showing first signs of recovery, resurgence in growth fundamentals such as increase in passenger traffic, improvement in credit market, better financing options, and increased budgetary allocations for infrastructure developments will surely reshape business practices in the aviation industry, thereby driving substantial opportunities for airport security equipment market. Transient disruption in the economic climate like the current recession is therefore not expected to leave an indelible mark on the market.    

As stated by the new market research report, United States and Europe account for a major share of the global demand. From a segmental perspective, Fire and explosives detection market represents the most prominent segment. The untapped market for low-cost airlines in Asia is a potential growth area for the aviation sector, which is encouraging the fast paced development of airline infrastructure and subsequently airport security operations in the region. Growth in this region is particularly driven by emerging markets such as China and India. The fast paced infrastructure development in these countries is driving tremendous activity in the Asian aviation industry. With China becoming one of the most preferred destinations for tourism across the globe, passenger and flight traffic, to and from the country has been increasing at a brisk pace. Also, the emergence of India and China as the most preferred destinations for outsourced manufacturing and service operations have boosted business travels to these countries, thereby requiring airport security measures in these nations. Market for perimeter and access control equipment in Asia-Pacific is expected to reach US$25.6 billion by 2015.

Major players in the market include American Science & Engineering Inc., Analogic Corporation, ARINC Incorporated, Assa Abloy AB, Aviation Security Company Limited, Bosch Security Systems GmbH, Dartagnan Biometric Solutions, ECSI International Inc., ECIL Rapiscan Ltd, Future Fibre Technologies Pty Ltd., Group 4 Securicor Plc, Guardian Technologies International Inc., Honeywell International Inc., L-1 Identity Solutions Inc., L-3 Communications Holdings Inc., LaBarge Inc., Magal Security Systems Ltd., NICE Systems Ltd., Panasonic System Solutions Co., Pelco, Rapiscan Systems, Raytheon Company, Reveal Imaging Technologies Inc., Siemens AG, Smiths Group Plc, Thermo Fisher Scientific Inc., Turnstile Security Systems Inc., Tyco Fire & Security, Unisys Corporation, United Technologies Corporation and Verint Systems Inc.

The research report titled “Airport Security Equipment: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, company profiles, mergers & acquisitions, and other strategic industry activities. The study provides market estimates and projections in (US$) for geographic markets such as United States, Canada, Japan, Europe, and Asia-Pacific and Rest of World. Product group/segments analyzed 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), and Monitoring Equipment (Digital Surveillance, Intercom and Video Door Phones, and CCTV).

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Airport_Security_Equipment_Market_Report.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 over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of 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
Fax 408-528-9977
Email press(at)StrategyR(dot)com
Web Site http://www.StrategyR.com

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