Golf Equipment - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Airport Security - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)


The Airport Security Market size is estimated at USD 16.12 billion in 2024, and is expected to reach USD 23.82 billion by 2029, growing at a CAGR of 8.12% during the forecast period (2024-2029).

Economic development in various countries is fueling increased air travel demand, necessitating advanced security systems. Governments' substantial investments in aviation infrastructure to modernize airports and enhance airspace management contribute to the growth of the airport security market. The adoption of new technologies, such as AI systems, improves efficiency. The increase in air passenger traffic is attracting investments in the market. Besides, the growing emphasis on the modernization of airport infrastructure is also driving the market’s growth.

With a positive outlook for global air passenger traffic in the next ten years, airlines are increasing their fleet size to cater to more passengers. Airlines are procuring more aircraft and adding more routes, increasing the number of flights airports can handle. As airspaces become busier, the need for better airport management rises.

However, the industry's dependence on technology made it vulnerable to various threats, including cyber-attacks. With the increasing number of sophisticated cyberattacks on airport safety systems worldwide, airports are investing heavily in cyber security to protect their operations and passengers. The growth of the airport security market is also expected to be hampered by the major factors of high maintenance and deployment costs.

Airport Security Systems Market Trends

Biometric Systems Segment to Experience the Highest Growth During the Forecast Period

  • Various airlines and airports test and use biometrics to speed up airport processes like security checks, check-in, or passport control. Some airports in countries like the United Kingdom, the United States, China, Singapore, and Japan use this technology, and various other airports in smaller countries are in the testing phase of biometrics. The US Transportation Security Administration released a roadmap for enhancing aviation security and passenger experience using biometrics to transform the commercial aviation ecosystem by 2026.
  • In September 2023, the US Transportation Security Administration (TSA) announced its plans to expand its facial recognition pilot program. The program, used at airport screening checkpoints, will be extended from 115 security lanes to 200 lanes. This initiative uses Credential Authentication Technology with a Camera (CAT-2 ID system). It involves comparing live photos of travelers taken at airport security checkpoints with the photo on their driver’s license or government ID card. This step will not only enhance the security measures at airports but also help minimize the time spent by passengers in security checks.
  • Similarly, in May 2022, Fraport, the airport operator of Frankfurt, launched a project called "Biometrics@Controllane" to improve security at staff access control points. Two partners, including Norwegian biometric technology provider Zwipe, were invited to trial this technology at the airport. The biometric-based digital processing of passengers is expected to ease the process at various checkpoints like terminal entry gates, check-in/ bag drop, security check, and boarding gates. Government initiatives toward integrating advanced biometric technology for faster processing of passengers are expected to drive the segment's growth during the forecast period.

Asia-Pacific is Expected to Generate the Highest Demand During the Forecast Period

  • Asia-Pacific is anticipated to witness the highest growth during the forecast period. Growing investment plans of the civil aviation authorities to develop new airports and the rising threat of terrorist activities at the airports are driving the market's growth in the region.
  • With increasing passenger traffic at the airports, countries like India and China are highly investing in developing new airports, expanding existing airports, and modernizing aviation infrastructure in the region.
  • Several regional airports, such as Kempegowda International Airport in Bengaluru, Changi Airport, and Hong Kong International Airport, are leading the race in Asia. These airports undertook significant biometric projects that significantly impacted passenger experience in the coming years.
  • In September 2022, Perth Airport in Australia tested Amadeus’s biometrics technology, which uses passengers' faces as their boarding passes for Singapore Airlines flights. These investments are expected to create demand for new airport security systems for airports and other facilities during the forecast period.

Airport Security Industry Overview

The airport security market is fragmented, with many players providing different security systems to airports worldwide. Some of the key players in the market are Bosch Ltd, Honeywell International Inc., Smiths Group PLC, Leidos Holding Inc., and RTX Corporation.

Increasing focus on developing new technologies is projected to help the companies gain new customers and increase their geographic presence. Governments and airport operators are currently conducting trials with robots that help security officials provide enhanced security at the airport. Airlines also heavily invest in security systems by partnering with providers to reduce passenger wait times and increase screening speed. This helps OEMs expand their geographic reach. Additionally, the new trend of digitizing airports is expected to open more opportunities for the key players during the forecast period.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
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Please note: The report will take approximately 2 business days to prepare and deliver.


1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Drivers
4.1.1 Popularity of Sports Tourism
4.1.2 Escalated Golf Participation Rates
4.2 Market Restraints
4.2.1 Inclination Toward Adventure Sports Activities
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Golf Clubs
5.1.2 Golf Balls
5.1.3 Golf Bags and Accessories
5.1.4 Apparel
5.1.5 Footwear
5.2 Distribution Channel
5.2.1 Offline Retail Stores
5.2.2 Online Retail Stores
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 Spain
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Austria
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 South Korea
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 United Arab Emirates
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Leading Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Topgolf Callaway Brands Corp.
6.3.2 Sumitomo Rubber Industries Ltd
6.3.3 Nike Inc.
6.3.4 Acushnet Holdings Corp.
6.3.5 Mizuno Corporation
6.3.6 Taylormade Golf Company Inc.
6.3.7 Adidas AG
6.3.8 Bridgestone Corporation
6.3.9 Puma SE
6.3.10 Karsten Manufacturing Corporation (Ping Inc.)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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