Key players in North America Port Security Market include Honeywell, Unisys, and L3 Communications, among others.
(PRWEB) July 15, 2014
The main means of transporting goods in an efficient manner are airports and marine ports. Thus, these places are highly vulnerable. The security of the residents and business enterprises depends on the level of security being assigned to the airports and marine ports. The global airport & marine port security market has been approximated to be worth $24.93 billion. This value is expected to increase to $39.81 billion by 2019. The rate of growth on a yearly basis has been forecast to be 9.8%. The worldwide service providers for the global airport & marine port security market include Siemens, Honeywell, Unisys, L3 Communications, and SAAB AB.
North America has witnessed major attacks on its security. One of the most significant is the September 2001 attack. This has led to an increase in the demand for security measures. The government initiatives for the protection of the native people as well as to protect the business environment are important driving factors for the higher demand of the North American airport & marine port security market.
The North American market has been estimated to be $7.59 billion in 2014. This market is expected to grow to $11.77 billion by 2019. This growth is forecast to be at 9.2% on an annual basis.
The key enterprises in the North American airport & marine port security market include Honeywell, Unisys, and L3 Communications, among others.
Latin America Port Security Market
Latin America is a region surrounded by water and thus, the main means of transport are airports and marine ports. The demand for installation of the security products has increased due to their reduced prices. The overall demand for airport & marine port security in Latin America is expected to remain high.
The market for airport & marine port security in Latin America has been currently valued at $2.03 billion. This market is projected to grow to $3.20 billion by 2019. This rise in revenue of Latin American airport & marine port security market is at a CAGR of 9.5% from 2014 to 2019. The main companies operating in this micro-sector and have a major share are L3 Communications and Honeywell.
Europe Port Security Market
The European airport & marine port security market plays an important role for safeguarding the large population and goods that travel through these travel lines. It is necessary to secure these in order to protect the current investments in the prevailing economic environment and also to attract other foreign investments. Hence, the demand in the European airport & marine port security market is expected to remain high in near future.
The current valuation of the European airport & marine port security market is $6.29 billion. This value has been estimated to reach $9.03 billion by 2019. The CAGR is forecast to be 7.5% during this period.
The key players in the European airport & marine port security market are Siemens, Honeywell, Unisys, L3 Communications, and SAAB AB.
Asia-Pacific Port Security Market
The threats to the Southeast Asian ports have increased in the last few years. Also, this Asia-Pacific region is an emerging economy. Thus, countries are increasingly creating ports at various states for enhance connectivity. Due to the high vulnerability of the ports and the need for improved connectivity, the demand for the Asia-Pacific airport & marine port security market is expected to remain high in the near future.
The Asia-Pacific market has been estimated to be worth $6.11 billion in 2014. This market is expected to grow to $10.86 billion by 2019, at a CAGR of 12.2%.
The key enterprises operating in this micro-sector and have a major share are Honeywell, Siemens, and L3 Communications, among others.
Middle East and Africa Port Security Market
The Middle East and Africa region consists of some very important waterways such as Suez Canal and the Red Sea. The ports which are along these waterways are prone to political and criminal threats. These areas are highly risk prone and hence, this leads to the higher demand for airport & marine port security market in this region. The current value of the MEA airport & marine port security market is $2.91 billion and this market is expected to grow annually at a rate of 11.2%, to reach $4.96 billion by 2019.
The industry-wide leaders in the Middle East and Africa airport & marine port security market are Honeywell, G4S, L3 Communications, and SAAB AB, and so on.
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