The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
In the near future, Asia Pacific is estimated to possess more than 400 airports. Also, the increasing world travelers and air passengers in developing countries such as Indonesia, India, and China would aid in driving the construction of new international airports. It would increase the need for passenger security. The global passenger security market is set to gain impetus from the rising investment in various countries in the construction of new airports.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
This Report Answers the Following Questions:
- How will the market be affected by changing consumer behaviour?
- What are the market trends, challenges, opportunities, growth drivers, and obstacles?
- Which crucial strategies are being adopted by key companies to increase sales of passenger security systems?
- Which companies would dominate the market in terms of share?
- Which region is likely to generate the maximum revenue?
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“Covid-19 Pandemic to Slow Down Growth of Aviation Industry”
The outbreak of Covid-19 worldwide is considered to be a significant factor of global crisis. It is impacting the aviation industry negatively. The industry is showcasing a fall in finances owing to the lockdown measure in every country. It has, in turn, declined the number of inbound passenger flights in the Middle East, Asia Pacific, Europe, and North America. The International Air Transport Association (IATA) declared that by the end of 2020, the year-on-year passenger revenue is anticipated to lower by USD 252 billion. This pandemic may hamper the market growth by lowering the demand for passenger security systems.
“Key Companies Engage in Investments to Develop Unique Passenger Security Products”
The market houses renowned companies, such as Honeywell International Inc., SITA, and Smiths Detection Group Ltd. They are mainly focusing on investing hefty amount of money in the development of technologically advanced products. Below are a couple of the latest key industry developments:
- April 2019: Axis Communications announced its plans to debut the latest solutions and products at ISC West 2019. The products would consist of new developments in access control technology, multidirectional and infrared (IR) camera capabilities, and network audio. It would help the company in strengthening its position in the security industry.
- November 2018: The Israel Airport Authority (IAA) selected Smiths Detection and Eastronics to deliver their 32 advanced checkpoint lanes. These are meant for the new Ramon International Airport and the Ben Gurion Airport. The highly advanced lanes are specially created to enhance passenger experience and operational efficiency.
Fortune Business Insights™ lists out all the companies operating in the global market. They are as follows:
- Smiths Detection Group Ltd. (The UK)
- Honeywell International Inc. (The US)
- Orbcomm (The US)
- L3 Security & Detection System (The US)
- Siemens AG (Germany)
- Rapiscan Systems (The US)
- Axis Communication AB (Sweden)
- Bosch Sicherheitssysteme GmbH (Germany)
- Autoclear LLC (The US)
- Nutech (China)
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