Passenger Security Market 2023 – Growth Factors, Business Developments, Industry Segmentation, Future Technologies And Outlook By 2032

Passenger Security Market

The Passenger Security Global Market Report 2023, provides comprehensive information on the passenger security market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

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As per The Business Research Company’s Passenger Security Global Market Report 2023, the market size is expected to grow from $5.79 billion in 2022 to $6.18 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global passenger security market size is expected to reach $7.82 billion in 2027 at a CAGR of 6.0%.

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Technological advancement is the key trend gaining popularity in the passenger security market. Major companies operating in the passenger security market are focusing on developing new technologies to sustain their position in the market. For instance, in June 2022, Thales Group, a France-based producer of security management solutions for airport infrastructure and passengers, launched HELIXVIEW, a new and revolutionary airport scanner. It is a brand-new, cutting-edge Explosive Detection System for Cabin Baggage (EDS CB), allowing passengers to leave things alone. The C3-compliant HELIXVIEW scanner (the next EDS CB standard) combines electronic scanning based on X-ray nanotechnology with 3D image reconstruction. It also uses Thales’ expertise in artificial intelligence (AI) and cybersecurity to develop an innovative and affordable solution for airports.

The passenger security market is segmented:

1) By Solution: Baggage Inspection Systems, Video Management Systems, Access Control Or Biometric Systems, Cybersecurity Solutions, Hand-Held Scanners, Full-Body Scanners, Explosive Trace Detectors, Walk-Through Metal Detectors, Perimeter Intrusion Detection Systems, Bar-Coded Boarding Systems

2) By Investment: New Demand, Replacement Demand

3) By End User: Commercial Airports, Seaports, Railway Stations

North America was the largest region in the passenger security market in 2022.

The table of contents in TBRC’s passenger security market report includes:
1. Executive Summary
2. Passenger Security Market Characteristics
3. Passenger Security Market Trends And Strategies
4. Passenger Security Market – Macro Economic Scenario
5. Passenger Security Market Size And Growth
26. Africa Passenger Security Market
27. Passenger Security Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Passenger Security Market
29. Passenger Security Market Future Outlook and Potential Analysis
30. Appendix

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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.

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