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 industry is one of the growing sectors currently and is expected to show significant growth during the forecast period. The transportation and security system market is presently focused on minimizing terrorist activities and reducing criminal incident on different modes of transportation by implementing proper security measures in public transports. In order to make public transport more safe different safety and security arrangement have been made in the form of access control, proper scanning and continuous surveillance with the help of security cameras.
Security forms an integral part of any modes of transportation. Proper transportation security system helps in protection from terrorist activities and criminal offences in airports, railway stations and bus terminals. Access controlled doors in airports prevents unauthorized access and helps in prevention of crimes. Baggage scanners are installed at all important railway stations and airports which scan baggage and cargo and prevent any illegal goods. Moreover, explosive detection systems detect any explosives in passenger bags or cargo and make transportation more safe and secured.
Based on modes of transportation, the market is segmented into roadways, railways, airways and seaways. Public safety requirements and massive infrastructural development backed by enhanced transportation security are the major factors for the substantial growth of transportation and security system market globally. New emerging technologies are acting as an opportunity which is expected to drive the transportation and security system market in the future. Emerging technologies in the form of advanced metal detectors, improved baggage scanners and robust explosive detection system are expected to drive the market as these technologies helps in easy detection of unwanted and illegal materials in different modes of transportation. Total airport security system is a relatively new concept and is undergoing extensive research. The system uses multi-level surveillance and intelligence system which will scan the entire airport and provide real-time data to the security experts. Data from various real-time sensors and sub systems would be analyzed on a real-time basis through a situational analysis. This information will then be shared with the security personnel on a continuous basis and used for the purpose of neutralizing any threats. Thus, installation of this new security system at an effective cost without compromising on the quality is expected to offer a huge potential for the transportation and security system market during the forecast period.
Key players profiled in this report include Alstom S.A. (France), Honeywell International (U.S.), Kapsch Group (Austria), L-3 Communications Holdings, Inc (U.S.), Lockheed Martin (U.S.) and Orbcomm Inc (U.S.) among others.
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