The Global Passenger Security Equipment Market size is expected to reach $78.4 billion by 2023, rising at a market growth of 9.3% CAGR during the forecast period. Passenger security equipment is mostly used in securing passengers from accidents, crimes, and other threats. The global passenger security equipment market would grow with a significant growth rate during the forecast period due to increasing incidences of terror activities, especially on public transport infrastructures.
Terror attacks are on the rise; therefore, passenger security systems are being installed around the globe to monitor and scan passengers and their luggage. Based on Transport Infrastructure, the market report segments the market into Airports, Train Stations, Bus Stations, and Seaports. Based on Type, the Global Passenger Security Equipment market segments the market into People Screening Systems, Baggage Inspection System, Explosive Detection System, Intrusion Detection & Prevention System, Fire Safety & Detection System, Video Surveillance, and Others.
Based on Regions, the Global Passenger Security Equipment market segments the market into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The market research report covers the analysis of key stake holders of the Global Passenger Security Equipment Market. Key companies profiled in the report include Honeywell International, Inc., Orbocomm, L3 Technologies, Inc., Kapsch, Siemens AG, OSI Systems (Rapiscan Systems), Rockwell Collins, Safran Group, Raytheon Group, and Smith Group, Plc.