Transportation and Security System Market
Transportation and Security System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021
Press Release :
Transportation security is essential for ensuring safety, proper and timely operations and a smooth transportation system combined with risk-free traveling. The major components of transportation and security system include passenger safety with the help of proper safety devices. Access control and surveillance are the most important parts of a transportation and security system.
Infrastructural development is on at full swing across the globe. Moreover, rapid growth in the industrial sector has led to the construction of huge buildings and offices. Besides, the markets in North America and Europe are steadily recovering from the recent economic crisis. All these factors have led to growth in the global economy. Office buildings, shopping malls, and important public places require proper safety and security arrangements. Moreover, modern airports and railway stations also require proper fire safety and biometric scanning for protection against terrorism and other threats. All these factors are responsible for the exponential growth of the transportation and security system market globally.
Technological innovation backed by new product development is one of the important factors expected to drive the market in the near future. Considering the increase in threat of terrorism along with rise in the number of people carrying illegal goods, there is a growing requirement for upgrades in detection technology to enable higher safety. Baggage scanning systems need to be upgraded in order to find out hidden threats in the passengers’ baggage. Moreover, high definition security cameras are the new level of security likely to drive the market in the near future. Thus, all these factors serve as a major opportunity for the transportation and security system market during the forecast period.
The global transportation and security system market is expected to witness stable growth due to increase in public safety requirements, and enhanced transportation security leading to higher sales of safety devices including metal detectors, explosive detection system, and baggage scanners. Roadways have traditionally dominated the transportation and security system market as this is the most common form of transportation which is used globally. Moreover, there is an exponential increase in the number of vehicles which is further driving the market for security system in transportation.
The report segments the market into four geographical regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). Increase in terrorism and criminal activities coupled with the rise in illegal smuggling of goods, drugs, and explosives are the key factors driving the transportation and security system market.
Asia Pacific is the most attractive region in the transportation and security system market. The region is expected to witness a CAGR of 11.2% during the forecast period from 2015 to 2021. Increasing awareness about transportation safety and higher focus towards passenger safety are the key factors propelling growth of the transportation and security system industry in the region. Moreover, there is an increase in infrastructural development of critical transportation facilities backed by huge government spending on air, water, land safety, and security-related projects which is further driving the transportation and security system market in the region.
The RoW region is another attractive segment for the transportation and security system industry due to the presence of countries such as Brazil, South Africa, Saudi Arabia, the UAE, and Argentina that are growing at a high rate. The transportation and security system industry in Brazil is expected to witness considerable growth due to the rising number of airports which are being built in the country. As a result, there is an increase in the number of air travelers which mandates the installation of security devices in airports. Thus, the RoW transportation and security system market is expected to witness a robust growth rate of 11.1% during the forecast period from 2015 to 2021.
Alstom S.A. (France), Honeywell International (U.S.), Kapsch Group (Austria), L-3 Communications Holdings, Inc (U.S.), Lockheed Martin (U.S.), Orbcomm Inc (U.S.), Smiths Group PLC (U.K.), Rapiscan Systems (U.S.) Saab Ab-B (Sweden), and Safran Group (France) are among some of the key players in the transportation and security system market.
This is a market research report consists of detailed analysis of transportation and security system market from a global aspect and forecast the market in terms of revenue (USD billion) from 2015 to 2021. This report undergoes a comprehensive analysis of the transportation and security system market from all the various aspects of the market. Drivers and restrains impacting the market are included in the report. Market opportunities of transportation and security system are also included in the report. Transportation security system finds application in all the different modes of transportation which includes roadways, railways, seaways and airways. Transportation security is highly important is it forms the basics of different transportation modes and is essential for a safe and secured journey of passengers. The reasons for substantial growth in demand for transportation security are the exponential increase in terrorist activities coupled with increase in criminal activities such as smuggling of drugs and prohibited items through airways, and seaways in the countries of Asia Pacific. These factors are responsible for increase in demand in transportation and security system market. Moreover, the increasing awareness about vehicle safety is also driving the growth of transportation and security system market as people are getting more conscious about road safety. Moreover the Government norms and regulation on public transport safety is also driving the transportation and security system market globally.
Asia Pacific is a very attractive market for transportation and security systems with a substantial demand for security instruments and devices in countries such as India, China, and Japan due to increase in road and air transport which requires a number of security measures to be implemented in order to ensure safe and secured transportation. Increase in the number of terrorist activities in the region is also another factor behind the rising demand for transportation and security systems.
Access control and surveillance are the most important parts of a transportation and security system. Based on systems, the transportation and security system market can be further segmented into: access control, surveillance, fire safety, scanning and biometrics. Access control held the largest market share in 2014 due to increase in terrorist activities backed by the rise in smuggling of prohibited goods across all modes of transportation globally, the prevention of which requires proper and strict monitoring along with enhanced security scanning. Among the modes of transportation, roadways dominate the global transportation and security system market as compared to railways, airways, and seaways.
The report is segmented by transportation modes, systems and geography. Market drivers, restraints, and opportunities of the transportation and security system market are included in the report. Current market trends from 2015 to 2021 are also highlighted in the study. Future market trends that are expected to influence the market is also included in the report. The report has been segmented into North America, Europe, Asia-Pacific and Rest of the World based on geographic region. The report also includes market scenario current market size and market trends from 2015 to 2021.
Strategic analysis of the global transportation and security system market and the growth trends for the forecast period 2015 to 2021 is also provided in the report. The scope of the report includes various market segments on a competitive basis based on cross sectional analysis, types, module and in-depth analysis of the transportation and security system market across various geographic segments. The systems used in transportation and security system market include access control, surveillance, scanning, fire safety and biometrics. Company profiles of market leaders are also included in this report to have a detailed overview of the market. Market attractiveness analysis helps to identify the most attractive market in different regions based on product portfolio.
Company market share analysis of the various industry participants along with company overview, financial and business strategies and recent developments in the field of transportation and security system market are provided in the report. Major market participants profiled in this report include Alstom, Honeywell International, Kapsch Group, L-3 Communications, Lockheed Martin, Orbcomm, Smiths Group, Rapiscan Systems Saab Ab-B, and Safran Group among others.
The Global Transportation and Security System Market have been segmented as follows:
Global Transportation and Security System Market: By Geography
- North America
- Asia Pacific
- Rest of the World
The report provides a cross-sectional analysis of all the below segments with respect to the above mentioned regions.
Global Transportation and Security System Market: By Modes
Global Transportation and Security System Market: By Systems
- Access control
- Fire safety