Frost & Sullivan: Airport security total expenditure was some $19.1 billion in 2011 and is estimated to increase to $45.43 billion by 2018
Source: Travel & Leisure Close-Up Created: April 23, 2012
Frost and Sullivan announced that airport security remains a priority for individual countries and the international community.
According to a release, an increase in global air travel over the last decade has driven growth in the security industry. The persistent threat of terrorist and criminal attack as well as new regional security directives have all contributed to this trend.
The global increase in airport infrastructure and upgrades of ageing equipment continue to offer new opportunities for industry to provide the latest technology and security solutions for airports throughout the world.
New analysis from Frost & Sullivan, Global Airport Security Market Assessment, finds that total expenditure was around 19.10 billion USD in 2011 and estimates this to increase to 45.43 billion USD by 2018. The research covers perimeter security, surveillance, access control, integration, screening, command and control and, personnel.
“High threat perceptions of criminal or terrorist attacks will continue to boost investment in airport security,” said Frost & Sullivan Research Analyst Anthony Leather. “Regional and global legislation is constantly amended and updated in an attempt to address any criminal or terrorist activity. This has compelled airport operators worldwide to continually update latest security procedures and technology solutions.”
Despite the global economic downturn, investment in airport infrastructure will continue to rise. More technologically advanced security equipment will be procured to ensure that airports meet stricter regulations and the highest security standards. This will be especially true in Asia Pacific (APAC), including India and China.
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