The Passenger Security Equipment Market is expected to grow due to rising safety concerns, technological advancements, and increased passenger traffic.

WILMINGTON, OR, UNITED STATES, October 11, 2024 /EINPresswire.com/ -- According to a recent report by Allied Market Research, the global passenger security equipment market size was valued at $58.4 billion in 2020 and is projected to reach $132.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.6% from 2021 to 2030.

The primary goal of passenger security equipment in public transportation infrastructures is to prevent the transport of prohibited and potentially hazardous items such as sharp objects, firearms, and explosives onto airplanes, trains, buses, or cruise ships. In addition to physical screening methods like metal detectors, advanced technologies such as x-ray screening equipment and millimeter-wave security screening are utilized. The urgency for innovative security solutions has intensified following recent terrorist incidents in Europe and the Gulf region.

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Furthermore, significant factors driving the growth of the passenger security equipment market include the increasing number of passengers using public transport networks. The demand for more effective crowd control and screening technologies also positively influences the market's expansion. However, the high implementation costs associated with passenger security equipment solutions may hinder market growth. On the other hand, the rising adoption of Internet of Things (IoT) technologies in public and passenger safety is expected to provide lucrative opportunities for the passenger security equipment market during the forecast period.

In terms of market segments, the fire safety and detection system category held the largest share of the passenger security equipment market in 2020, a trend expected to continue throughout the forecast period. This growth can be attributed to the increasing need for enhanced passenger safety standards in public venues and the rising concerns about terrorist threats. Conversely, the people screening system segment is anticipated to experience the highest growth due to the surge in terrorist activities at various airports and other transit hubs, along with governmental initiatives aimed at improving security systems across transportation facilities.

Regionally, the Asia-Pacific region dominated the passenger security equipment market in 2020 and is expected to maintain this leading position in the coming years. This growth is fueled by increased government investment in advanced passenger security technologies in developing countries such as China and India, as authorities seek to enhance the safety of their citizens.

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The initial outbreak of COVID-19 caused significant slowdowns in the passenger security equipment industry, as travel and tourism were adversely affected by social distancing and self-isolation measures. According to an article from the Organization for Economic Co-operation and Development (OECD) published in June 2020, the global travel and tourism sector contracted by more than 50-80% during the early stages of the pandemic. However, with the easing of COVID-19 restrictions, a resurgence in passenger travel is anticipated, which will likely stimulate growth in the passenger security equipment industry in the post-pandemic era. For example, by January 2022, the number of travelers passing through Transportation Security Administration (TSA) checkpoints in the U.S. exceeded figures from both 2019 and 2021, signaling a rebound in tourism and creating favorable conditions for the growth of the passenger security equipment market in the years ahead.

Key Findings of the Study:

1. By transportation infrastructure, the airports segment accounted for the largest share of the passenger security equipment market in 2020.

2. Regionally, Asia-Pacific generated the highest revenue in 2020.

3. By type, the fire safety and detection system segment generated the most revenue in 2020.

The report also profiles key players in the passenger security equipment market, including Autoclear, Axis Communications AB, Bosch Sicherheitssysteme GmbH, Honeywell International Inc., Kapsch TrafficCom AG, L3Harris Technologies, Inc., Rapiscan Systems, SITA, Siemens AG, and Smiths Group plc. These companies have implemented various strategies to enhance their market penetration and strengthen their positions within the industry.

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