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The passenger security equipment market has experienced robust growth, escalating from $65.76 billion in 2023 to $71.66 billion in 2024, with a CAGR of 9.0%. This surge is attributed to factors like terror threats, population growth, and increased global travel. Looking ahead, the market is anticipated to reach $96.11 billion by 2028, with a CAGR of 7.6%, driven by biometric adoption, digital transformation, and government regulations, with major trends including biometric security, surveillance advancements, and blockchain integration.

Escalating instances of smuggling and illegal immigration are poised to propel the expansion of the passenger security equipment market in the foreseeable future. Smuggling and illegal immigration involve the unauthorized transportation of goods or individuals across borders, often breaching immigration or customs regulations. Economic disparities between nations or regions may incentivize individuals to seek better prospects through illicit means, such as migrating to more affluent countries for employment opportunities or improved living standards. Passenger security equipment plays a crucial role in border security and immigration enforcement strategies, aiding authorities in identifying and deterring smuggling and illegal immigration activities while fortifying national borders and ensuring public safety. The rising occurrences of illegal immigration are thus driving the growth of the passenger security equipment market.

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What Are The Key Trends That Influence Passenger Security Equipment Market Share Analysis?

Major companies in the passenger security equipment market are developing technological solutions such as automated screening lanes to enhance security efficiency. Automated screening lanes improve security procedures while reducing passenger wait times during screening. For instance, in March 2021, Vanderlande Industries BV introduced PAX Compact, an automated screening lane designed for airport security checkpoints with limited space. This solution enhances screening efficiency by offering configuration flexibility and a compact footprint, starting at just 10 meters, suitable for airports with shorter checkpoints or lower throughput requirements.

Which Market Players Are Driving Growth In The Passenger Security Equipment Market?

Major companies operating in the market areSiemens AG, Raytheon Technologies Corporation, Lockheed Martin Corporation, Intel Corporation, Honeywell International Inc., WESCO International, Safran Group, Collins Aerospace, Texas Instruments Incorporated, L3Harris Technologies, Leidos Holdings Inc., Motorola Solutions, Adani Group, Microchip Technology Inc., Xilinx Inc., Smiths Detection Group Ltd, FLIR Systems Inc., SITA (Société Internationale de Télécommunications Aéronautiques), OSI Systems Inc., Axis Communications AB, Kapsch TrafficCom AG, Rapiscan Systems Inc, Bosch Building Technologies, The Infinova Group, Mantra Softech (India) Pvt. Ltd., Genetec Inc., Autoclear LLC, ORBCOMM Inc., Advanced Perimeter Systems Ltd., Cypress Semiconductor Corporation, Nuctech Company Limited

How Is The Global Passenger Security Equipment Market Segmented?

The passenger security equipment market covered in this report is segmented –

1) By Type: Baggage Inspection System, Video Surveillance, Intrusion Detection And Prevention, People Screening System, Biometric Solutions, Other Types
2) By Investment: New Demand, Up-Gradation
3) By End User: Airport, Railway Station, Seaports, Bus Station, Other End Users

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The Passenger Security Equipment Global Market Report 2024 provides an overview of the passenger security equipmentmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The passenger security equipment market forecast analyzes passenger security equipment market size, passenger security equipment market share, leading competitor and their market positions.

The Table Of Content For The Passenger Security Equipment Market Include

1. Passenger Security Equipment Market Executive Summary
2. Passenger Security Equipment Market Segments
3. Passenger Security Equipment Market Size And Template Market Growth Rate
4.  Key Passenger Security Equipment Market Trends
5. Major Passenger Security Equipment Market Drivers
……
25. Key Mergers And Acquisitions In The Passenger Security Equipment Market
26. Top Passenger Security Equipment Companies
27. Passenger Security Equipment Market Opportunities And Strategies
28. Passenger Security Equipment Market, Conclusions And Recommendations
29. Appendix

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