Portland, OR -- (SBWIRE) -- 03/16/2018 -- The global passenger security equipment market is expected to reach $79,042 million in 2023, from $43,398 million in 2016, growing at a CAGR of 8.9% from 2017 to 2023. Passenger security refers to a technique, which helps them protect from accidentals harms, crimes, and other threats. Such procedures help the government to avoid any crimes and allow passengers to travel from one place to another without any harm. Honeywell International, Orbocomm, and L-3 Communications are some of the leading key players of the passenger security equipment market.

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Increase in terror attacks on public transport infrastructures drives the passenger security equipment market growth. Further, rise in demand of biometrics technologies for identity verification by the government also fuels the market growth. However, high installation cost is anticipated to hinder the passenger security equipment market during the forecast period.

Based on type, the global passenger security equipment market is categorized into baggage inspection system, explosive detection system, video surveillance, intrusion detection and prevention system, fire safety & detection system, people screening systems, and others. The people screening systems segment dominated the global passenger security equipment market, in terms of revenue, and is expected to maintain this trend.

Honeywell International, Orbocomm, L-3 Communications, Kapsch, Siemens AG, Rapiscan Systems, Rockwell Collins, Safran Group, Raytheon Group, and Smiths Group are some of the leading key players of global passenger security equipment market.

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KEY MARKET SEGMENTS

BY TRANSPORT INFRASTRUCTURE

Airports
Train Stations
Bus Stations
Seaports
BY TYPE

Baggage Inspection System
Explosive Detection System
Video Surveillance
Intrusion Detection and Prevention System
Fire Safety & Detection System
People Screening Systems
Others
BY REGION

North America
U.S.
Mexico
Canada
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
KEY PLAYERS

Honeywell International
Orbocomm
L-3 Communications
Kapsch
Siemens AG
Rapiscan Systems
Rockwell Collins
Safran Group
Raytheon Group
Smiths Group
The other players in the value chain include (profiles not included in the report):

Anixter
Avigilon
Harris
HID Global
Lockheed Martin
Northrop Grumman