In recent years, the market for airport and marine port security has witnessed rapid growth due to high growth in international travel and trade and in increase in threats from global terrorism. Security concerns have also increased in recent years as airports and seaports have come under the radar of terrorist threats.
In 2013, the global market for airport and marine port market was valued at US$22.28 billion. By 2018, the market for airport and marine security is expected to reach a value of US$36.99 billion, growing at a compound annual growth rate of 10.7 percent from 2013 to 2018.
Post 9/11, airports have been given increased security importance. Some of the factors that are influencing the growth in the airport and marine port security market are increasing government initiatives on tightening security, greater need for sustaining business continuity, and growth in economy.
With the revival in economy, there has been increased in air travel and international trade. This is in turn creating opportunities in airport and marine port security market.
The global airport and marine port security market can be segmented based on infrastructure, services, regions, and solutions.
On the basis of infrastructure, the market is categorized as airport security and marine port security. Based on services, the market is segmented into four categories which are consultation and designing, maintenance and support, integration, and managed services. […]Source: rnrmarketresearch.com