the global transportation and security systems market should be 41.5 billion USD in 2021 and reach 75.54 billion USD in 2027, registering a CAGR of 10.5% from 2021 to 2027. The development of railway sector is gaining momentum across the globe, supported by adequate and timely tasks and smooth transportation infrastructure. Additionally, the trend of transportation safety innovation is utilized in various industry segments for the welfare of goods or people while on the move. These factors would expand the global transportation and security systems market over the forecast period.
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Factors affecting the transportation and security system market over the forecast period
The need for public safety and significant infrastructure development are the major driving factors of the global transportation and security systems market. Market growth is also driven by higher return on investment (ROI) through enhanced protection and security.
Along with new emerging technologies and their developments in video surveillance and filtering, business continuity techniques offer lucrative opportunities for the global transportation and security systems market.
Passenger inconvenience is a major obstacle for the global market
- The inconvenience to passengers and the high investment costs in the technology infrastructure are the significant limitations of the global transportation and security systems market.
- Differences in government regulatory policies and testing of new and emerging technologies are hampering market growth.
- Problems associated with the implementation of security applications in all forms of transportation are hampering the growth of the market.
Impact of COVID-19 on the Transportation and Security Systems Market:
The global impacts of COVID-19 are significantly affecting the transportation and security systems market. COVID-19 is expected to significantly influence the supply chain and product demand. Additionally, changes in consumer buying behavior due to the uncertainty surrounding the pandemic could have significant implications for the near future growth of the industry.
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The report outlines the study of the global Transportation and Security Systems Market based on transportation mode, system type, application, and transportation technology.
On the basis of transportation mode, the transportation and security systems market has been segmented into –
- Airlines companies
On the basis of system type, the transportation and security systems market has been segmented into –
- Access control
- fire safety
Based on Application, the Transportation and Security Systems Market has been segmented into-
- Passenger and Baggage Screening System
- Perimeter Intrusion Detection
- Nuclear & Radiological Detection
- Video surveillance
- Cargo inspection system
- Security and fire detection system
Based on transportation technology, the transportation and security systems market has been segmented into –
- Bottled Liquid Scanners (BLS)
- Explosives Detection System (EDS)
- Explosive Trace Detection (ETD)
Regional Outlook of the Transportation and Security Systems Market
The global transportation and security systems market has been segmented into five geographical regions: North America, Asia-Pacific, South America, Europe, Middle East and Africa. North America holds the largest share of the global transportation and security systems market, followed by Asia-Pacific and Europe. Rising awareness of transportation security and more attention paid to passenger safety are the major factors driving the market growth in the region. Also, Asia-Pacific is the fastest growing region and over the forecast period is expected to register the highest CAGR in the global market.
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Major competitors in the global transportation and security systems market include
The global transportation and security systems market is highly fragmented, with a large number of small players across the globe. Companies need high capital investments and technical expertise to strengthen their position in the global market. These market players are highly focused on investments in market expansion and product development during the forecast period. Key players operating in the global transportation and security systems market include-
- Safran Group
- Rapiscan Systems Limited
- Saab AB
- ABB limited
- Smith’s Group PLC
- Orbcomm Incorporated
- Lockheed Martin Company
- L-3 Technologies Incorporated
- Kapsch Group
- Honeywell International Incorporated
- Alstom S.A.
- Raytheon Technologies Corporation.
The Transportation and Security Systems Market report provides an in-depth analysis of macroeconomic factors and market attractiveness of each segment. The report will include an in-depth qualitative and quantitative assessment of industry/regional outlook with market players in the respective segment and region/country. The information concluded in the report includes the entries.
Transportation and Security Systems Market report covers comprehensive analysis on
- Market Segmentation and Regional Analysis
- 10 year market size
- Price analysis
- Supply and demand analysis
- Product life cycle analysis
- Porter’s Five Forces and Value Chain Analysis
- Analysis of developed and emerging economies
- PEST analysis
- Factor analysis of the market and forecasts
- Opportunities, risks and market trends
- Conclusion and recommendation
- Regulatory landscape
- Patent Analysis
- Competition landscape
- More than 15 company profiles
Regional analysis of Transportation and Security Systems Market includes
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA
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Transportation and Security Systems Market Target Audience
- Manufacturers of transport and security systems
- Security system manufacturers
- Semiconductor System Manufacturers, Suppliers and Distributors
- Trade publications and magazines
- Government authorities, associations and organizations