NEW YORK, May 29, 2020 /PRNewswire/ -- Amid the COVID-19 crisis and the looming economic recession, the Airport Security Equipment market worldwide will grow by a projected US$4.1 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 4.4%. Explosives Detection, one of the segments analyzed and sized in this study, is forecast to grow at over 5.1% and reach a market size of US$5.3 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Explosives Detection market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.

As part of the new emerging geographic scenario, the United States is forecast to readjust to a 5.3% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$186.6 Million to the region's size over the next 7 to 8 years. In addition, over US$181.8 Million worth of projected demand in the region will come from Rest of European markets. In Japan, the Explosives Detection segment will reach a market size of US$462.9 Million by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Airport Security Equipment market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 4.8% over the next couple of years and add approximately US$721.8 Million in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Airport Security Equipment market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others, Analogic Corporation; Autoclear, LLC; Axis Communications AB.; Ayonix Corporation; Bertel O. Steen Airport Solutions AS; Brijot Imaging Systems; C.E.I.A. S.p.A.; Gilardoni S.p.A.; Honeywell International, Inc.; IDEMIA; Johnson Controls International PLC; L3 Security & Detection Systems; Mistral Security Inc.; Nuctech Company Limited; OSI Systems, Inc.; OSSI; RedXDefense; RESA AIRPORT DATA SYSTEMS; Robert Bosch LLC; Rockwell Collins; Siemens AG; SITA; Smiths Detection Watford Ltd.; Thruvision Ltd.; Vanderlande Industries B.V.; Westminster International Ltd.

EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Recent Market Activity Airports as Conduits for Terrorism Throws the Spotlight On the Ever-Present Importance of Airport Security Market Overview Key Trends and Growth Drivers Major Macro Market Forces Benefiting Growth Stable Commercial Aviation Industry Presents Opportunities for Growth Growth in Air Passenger Traffic New Airport Constructions, Development Projects & Modernization Plans Stricter Implementation of Security Procedures Artificial Intelligence Emerges to Transform Airport Security IoT Gains in Prominence for Its Ability to Reduce Security Wait Times "Safety Through Synergy" is the New Buzzword Driving Growth of the Integrated Approach to Airport Security Airport Cyber Security: A New and Rapidly Evolving and Growing Market Increasing Deployment of Integrated Command & Control Systems Aggravates Vulnerability to Aviation Cybercrime Recent Rise in Suicide Bombing, Gun Attacks & Drugs Smuggling Drive Demand for Explosives/Narcotics Detection Systems Passenger Discomfort With Physical Search Drives Investments in Unobtrusive Full Body Scanners The Indefectible Biometrics Technology Becomes Indispensable in Identity Verification & Access Control at Airports Fingerprint Biometrics: The Preferred Choice in Immigration Control & Travel Document Verification Global Competitor Market Shares Airport Security Equipment Competitor Market Share Scenario Worldwide (in %): 2020 & 2029 The Need to Expedite Check In and Boarding Drives Interest in Face Recognition Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

Analogic Corporation (USA) Autoclear, LLC (USA) Axis Communications AB. (Sweden) Ayonix Corporation (Japan) Bertel O. Steen Airport Solutions AS (Norway) Brijot Millimeterwave Technology Corp (USA) C.E.I.A. S.p.A. (Italy) Gilardoni S.p.A. (Italy) Honeywell International Inc. (USA) IDEMIA (France) Johnson Controls International PLC (USA) L3 Security & Detection Systems (USA) Mistral Security Inc. (USA) Nuctech Company Limited (China) OSI Systems, Inc. (USA) OSSI (USA) RedXDefense (USA) RESA AIRPORT DATA SYSTEMS (France) Robert Bosch LLC (USA) Rockwell Collins (USA) Siemens AG (Germany) SITA (Switzerland) Smiths Detection Watford Ltd. (UK) Thruvision Ltd. (UK) Vanderlande Industries B.V. (The Netherlands) Westminster International Ltd. (UK)

3. MARKET TRENDS & DRIVERS

Easier Than Fingerprints & More Reliable than Facial Recognition, Iris-Recognition Witnesses Resurgence in Interest Automated e-Gates Mark the Beginning of Expedited Travel & Positive Passenger Flying Experience Smart Security (SmartS) Program Established to Chase the Goal of Accelerated Security Clearance Transition from Reactive to Proactive Deployment of Airport Security Technologies Bodes Well for the Future of the Market Electronic Access Control Systems Remain Primary Security Systems in Airports Electronic Access Control Systems Remain Primary Security Systems in Airports Smart Cards EACS Replace Legacy Card Based EACS Contactless Card Based Access Control: The Newest Technology Flavor Emergence of Optical Cards Based EACS as Substitutes for Smart Cards Based EACS Biometrics EACS to Replace Card-based EACS and Keypad-Based EACS in the Long-Run IP Video Surveillance Gains Prominence Over Analog Video Surveillance in Perimeter Security and Facility Monitoring Innovation Lanes - A Mantra for Increasing Security and Minimizing Wait Time at Airports CT Scanners - An Efficient Technology to Check Baggage Walk-Through Screening: Future of Airport Security Facial Recognition Software Biometrics Ensure Data Protection SmartGUARD: Revolutionary App for Improved Airport Security Airports Consider Long-Term Perspective to Ensure Passenger Security Real-Time Flight Tracking at Cork Airport Abu Dhabi Airport to Deploy Automated Document Authentication System Schiphol Moves to Central Security Aruba Airport Launches 'Happy Flow' Project Privatization of Airport Security - Weighing the Consequences Airports Use Chromatography to Automatically Detect Explosives

4. GLOBAL MARKET PERSPECTIVE

Table 1: Airport Security Equipment Global Market Estimates and Forecasts in US$ Thousand by Region/Country: 2020-2027 Table 2: Airport Security Equipment Global Retrospective Market Scenario in US$ Thousand by Region/Country: 2012-2019 Table 3: Airport Security Equipment Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027 Table 4: Explosives Detection (Type) World Market by Region/Country in US$ Thousand: 2020 to 2027 Table 5: Explosives Detection (Type) Historic Market Analysis by Region/Country in US$ Thousand: 2012 to 2019 Table 6: Explosives Detection (Type) Market Share Breakdown of Worldwide Sales by Region/Country: 2012 VS 2020 VS 2027 Table 7: X-Ray & Infrared Equipment (Type) Potential Growth Markets Worldwide in US$ Thousand: 2020 to 2027 Table 8: X-Ray & Infrared Equipment (Type) Historic Market Perspective by Region/Country in US$ Thousand: 2012 to 2019 Table 9: X-Ray & Infrared Equipment (Type) Market Sales Breakdown by Region/Country in Percentage: 2012 VS 2020 VS 2027 Table 10: Perimeter & Access Control (Type) Geographic Market Spread Worldwide in US$ Thousand: 2020 to 2027 Table 11: Perimeter & Access Control (Type) Region Wise Breakdown of Global Historic Demand in US$ Thousand: 2012 to 2019 Table 12: Perimeter & Access Control (Type) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027 Table 13: Video Surveillance (Type) World Market Estimates and Forecasts by Region/Country in US$ Thousand: 2020 to 2027 Table 14: Video Surveillance (Type) Market Historic Review by Region/Country in US$ Thousand: 2012 to 2019 Table 15: Video Surveillance (Type) Market Share Breakdown by Region/Country: 2012 VS 2020 VS 2027 Table 16: Biometrics Equipment (Type) World Market by Region/Country in US$ Thousand: 2020 to 2027 Table 17: Biometrics Equipment (Type) Historic Market Analysis by Region/Country in US$ Thousand: 2012 to 2019 Table 18: Biometrics Equipment (Type) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027 Table 19: Metal Detectors (Type) World Market Estimates and Forecasts in US$ Thousand by Region/Country: 2020 to 2027 Table 20: Metal Detectors (Type) Market Worldwide Historic Review by Region/Country in US$ Thousand: 2012 to 2019 Table 21: Metal Detectors (Type) Market Percentage Share Distribution by Region/Country: 2012 VS 2020 VS 2027 Table 22: Other Types (Type) Market Opportunity Analysis Worldwide in US$ Thousand by Region/Country: 2020 to 2027 Table 23: Other Types (Type) Global Historic Demand in US$ Thousand by Region/Country: 2012 to 2019 Table 24: Other Types (Type) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027

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