Airport Security Market - Forecast (2021 - 2026)
As per the statistics released by The International Air Transport Association (IATA), the number of air passengers in 2017 reached 4.1 billion, supported by improvements in global economic landscape.[1] With a huge chunk of global population emerging as air-travelers, demand for safety and security from the aviation sector is propelling the airport security market globally. Several factors such as the infamous '9/11 attack', globalization, recurring incidence of smuggling, and surging number of air-travelers has augmented the global airport security market size to reach $8.15 billion in 2018. Primarily driven by the rise in the number of airport development and upgrade projects, the airport security market is estimated to register a CAGR of 9.30% during the forecast period 2019-2025. For example, China is constructing 8 new airports every year with a target to build 216 new airports by 2035. [2] Airport Security Market Outlook: Metal detectors, millimeter wave scanners, explos...