Global Transportation and Security System Market to Expand at 10.90% CAGR from 2015 to 2021, Propelled by Rise in Criminal Activities

2024-11-08 05:33:09 News & Society

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Transparency Market Research has published a new research report on the Global Transportation And Security System Market. As per the report, the global transportation and security system market is predicted to progress from US$36.4 bn in 2014 to US$74.5 bn till 2021. The report, titled 'Transportation and Security System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021?, states that the global transportation and security system market is predicted to expand at a 10.90% CAGR during the period from 2015 to 2021.

Transportation security is an essential part of various transportation modes, as it ensures the safety and security of the passengers throughout their journey. Increase in the number of criminal activities, robberies, and terrorist activities has propelled the global transportation and security system market in the recent past. Increase in drug smuggling activities through seaways and airways is expected to boost the global transportation and security system market in the years to come. Government norms on road safety and increasing awareness about vehicle safety is expected to generate promising growth opportunities for the global transportation and security system market during the forecast period.

The global transportation and security system market is segmented on the basis of geography, mode, and system. By geography, the global transportation and security system market is divided into Asia Pacific, North America, Europe, and Rest of the World. In 2014, the global transportation and security system market was dominated by North America. Most of the newly introduced vehicles in the North America region are equipped with modern devices for navigation and safety. Increasing criminal activities will drive the Asia Pacific transportation and security system market in the coming few years.

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Based on system, the global transportation and security system market is classified into fire safety, access control, scanning, biometrics, and surveillance. Access control has always been the basis of any security and safety systems and thus has remained the dominant segment. Access control is primarily used in railway stations, bus terminals, airports, and other public areas where security breaches are commonly registered. Surveillance is another important part of transportation security. Surveillance using CCTV cameras helps effectively monitor any kind of criminal activity. Surveillance with CCTV cameras thus enhances transportation and security systems by providing a reliable means of keeping an eye on all activities taking place in public places. New entrants in the global transportation and security system market are giving tough competition to the existing leading players by introducing advanced surveillance systems.

The emergence of new technologies in metal detectors, baggage scanners, and explosive detectors is predicted to drive the global transportation and security system market in the coming few years. Some of the leading companies in the global transportation and security system market are Alstom S.A. (France), Kapsch Group (Austria), Lockheed Martin (U.S.), Honeywell International (U.S.), L-3 Communications Holdings, Inc (U.S.), and Orbcomm Inc (U.S.).

By mode, the global transportation and security system market is classified into seaways, roadways, railways, and airways. In 2014, the global transportation and security system market was dominated by the roadways segment, followed by railways and airways. As roadways are the most used mode of transportation, this segment is expected to register more demand for transportation and security systems in the years to come.

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