Frost & Sullivan believes that the global airport security market will double in the next decade. The firm’s latest report specifically predicts that the market will jump from $5.19 billion in 2020 to $13.63 billion by 2030.
According to Frost & Sullivan, much of that anticipated growth can be attributed to COVID-19, insofar as the pandemic has created more demand for contactless screening solutions and accelerated digital transformation in multiple industries, including air travel. It also speaks to the need for cybersecurity solutions that can combat more sophisticated cyberthreats.
The report looks at eight different security categories, which cover both internal and public-facing operations. Those categories include cybersecurity, data analytics, command and control, and communication equipment, in addition to screening, surveillance, managed services, and identity management and access control. Frost & Sullivan noted that many surveillance systems will take advantage of facial recognition technology, while behavioral biometrics software will help watch for suspicious digital activity. Meanwhile, data analytics solutions will help improve passenger flow and shorten the lines at security checkpoints.
“To increase operational profits, airports are becoming experience centers, which will lead to more footfall within airport infrastructures and an increased deployment of security solutions, such as video surveillance,” said Frost & Sullivan Aerospace and Defense Industry Analyst Shaurya Singh.
Regionally speaking, Frost & Sullivan predicts that the Asia-Pacific market will triple its revenue and overtake North America as the largest segment of the market before the end of the forecast period. However, Africa and the Middle East will be the two fastest-growing regions.
The new report arrives shortly after a separate report that suggests that the demand for data-driven Total Airport Management solutions will soon reach $1.2 billion. Frost & Sullivan recently presented an Excellence Award to SITA to recognize the company for its efforts to modernize the air travel industry in the APAC region.
March 10, 2021 – by Eric Weiss