The Port Security Systems Market size is estimated at USD 21.45 billion in 2024, and is expected to reach USD 30.09 billion by 2029, growing at a CAGR of 7% during the forecast period (2024-2029).
The port security systems market is semi-consolidated in nature, and key players in the market dominate the majority market share are Saab AB, Siemens AG, RTX Corporation, THALES, and Leidos, Inc. There are also a large number of small/domestic companies occupying small market share. The market is highly competitive, with all the players competing to gain the largest market share.
The market is marred with major disruptions as the key players try to eliminate competition by adhering to an aggressive acquisition strategy. Their global reach and robust R&D capabilities position them as key players in delivering comprehensive security solutions for major ports worldwide. Alongside these industry leaders, there is a burgeoning ecosystem of specialized regional firms, which often tailor their solutions to the specific needs and regulatory requirements of local port authorities.
In April 2021, Leidos Inc. was awarded a contract by the US Customs and Border Protection (CBP) to install Multi-Energy Portal (MEP) systems at land and seaports for non-intrusive inspection (NII) of commercial vehicles.
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