Major Players in Transportation Safety and Transportation Security Market are Alstom, Honeywell International, Kapsch, L-3 Communications, Lockheed Martin, Orbcomm, Rapiscan Systems, Raytheon Company, Rockwell Collins, Siemens AG and many more.
(PRWEB) November 02, 2014
The report "Transportation Safety and Transportation Security Market Modes (Airways; Seaways; Roadways; Railways); Systems (Access Control; Surveillance, Scanning, Screening, Tracking, Navigation, Fire Safety): - Worldwide Market Forecasts (2013 - 2018)", defines and segments the global transportation safety and security market into various sub-segments with in-depth analysis and forecasting of revenues. This report also identifies drivers and restraints for this market with insights into latest trends, opportunities, and challenges
Browse 98 market data tables and 22 figures spread through 200 pages and in-depth TOC on “Transportation Safety and Transportation Security Market"
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The transportation safety and transportation security market is gaining momentum, gradually over the years due to the constant need of public safety and massive infrastructural development of critical transportation facilities including airports, seaports, railway stations, highways, bridges, tunnels, and bus stations. The surging crimes, antisocial behaviors, immigration of illicit goods, and subsequent terrorist attacks have enforced the awareness of security among the local and federal government. Moreover, the government spending on various advanced technological solutions is also one of the major driving factors. Also, new government-regulated bodies have been formed across the globe to alleviate the situation including Transportation Security of Administration (TSA), European Maritime Safety Agency (EMSA), and European Railway Agency (ERA).
The North American (NA) market is expected to have the largest market size in 2013, followed by Europe. The Asia Pacific (APAC) market is expected to show the dynamic growth over the next 5 years. Growth in the Middle East and Africa (MEA) is also expected in the future, due to rapid infrastructural development and enhanced business continuity.
According to the report findings, secure communication system is expected to have the highest growth rate over the next 5 years. However, the screening and scanning market is expected to generate the highest revenue during the forecast period. Integrated solutions on a single platform are gaining traction and investment from diverse vendors including Thales, Saab, Alstom, and Honeywell International; this new trend would influence the future growth of the market. Airways are expected to gain the highest market share among all the modes of transportation.
MarketsandMarkets forecasts the global transportation safety and transportation security market is expected to grow from $37.80 billion in 2013 to $62.96 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 10.7% from 2013 to 2018. North America (NA) is expected to be the biggest contributor in terms of revenue contribution, while the growing markets Asia Pacific (APAC), Middle East and Africa (MEA) and Latin America (LA), are expected to experience increased market traction with high CAGR’s, during the forecast period.
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