Existing terrorist threats, rising passenger numbers and airport expansion projects mean that the global aviation security market will reach $22.3 billion in 2012, according to new research from Visiongain.
The prevailing economic conditions faced by North America and Europe have meant that projected sales forecasts are restrained However, the impact of these economic constraints to the overall aviation security industry will be limited as in the longer term safety and security continue to remain a priority. Upgrades to existing security features and investment in R&D will help to maintain steady growth in these markets.
Elsewhere, growth within Asian aviation security markets such as China and India is forecast by Visiongain to be significant, while in the longer term, Middle Eastern spending on aviation security is expected to increase sharply to meet the demand for new technology systems.
Source: Visiongain
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