Global airport security expenditures expected to reach $45B by 2018
YARMOUTH, Maine—An increase in global air travel, the persistent threat of terrorist attacks and new regional security directives are all contributing to increased spending on airport security measures throughout the world, according to new analysis by Frost & Sullivan.
Global expenditures on airport security reached $19.1 billion in 2011, according to Frost & Sullivan's Global Airport Security Market Assessment. That number is expected to reach $45.43 billion by 2018, a 137.8 percent increase, according to the research. "High threat perceptions of criminal or terrorist attacks will continue to boost investment in airport security," Anthony Leather, a Frost & Sullivan research analyst, said in a statement. "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." The research covers perimeter security, surveillance, access control, integration, screening, command and control and, personnel.
Despite the global economic downturn, investment in airport infrastructure will continue to rise. Major investments in airport security are expected to come from India and China.
New technology will continue to be attractive to airport security managers, but the reliance on labor-intensive airport security measures still consumes the majority of the security budget, Frost & Sullivan's research showed. "But while technology can help to identify threats, it still requires human interaction to evaluate and implement the appropriate response," Leather said.
Companies that can provide a total security option are becoming more desirable, so that integration of security systems can be easily achieved, the news release stated. "The integration of security systems is becoming vital for airport security managers," Leather said. "Integration results in a more comprehensive and cohesive security control that helps to respond to identified threats in a more efficient and effective manner. Therefore, technology that can be easily integrated will be in the most competitive position in the procurement process."