According to FMI, the transportation and security systems market size will reach US$ 41.1 Billion by 2033. According to predictions, the market will grow by 8.8% over the next decade.
Transportation and security systems are among the largest consumers in the United States; however, government regulations are projected to have an impact on demand. According to the prediction, demand for transport and security systems in the United States would increase at a 7.6% CAGR.
Given the large size and population of the United States, transport systems are in great demand. The transportation sector includes forms of transportation such as roads, trains, air transportation, and waterways. Highways, bridges, airports, and ports, which enable efficient and sustainable transportation, are still in great demand.
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Key Takeaways from Transportation and Security Systems Market Study
- Between 2018 and 2022, the transportation and security system market witnessed growth of 4.6% CAGR.
- According to the projected data, the United States transportation and security system market is expected to generate a revenue of US$ 200.2 million by the year 2033. This indicates potential growth and investment opportunities in this sector within the country.
- Projections show that the Europe market will produce 19.8% of all transportation and security systems by 2033.
- According to estimates, the transportation and security system market in the United Kingdom will generate US$ 36 million by 2033.
- Between 2023 and 2033, the Japanese transportation and security system market is expected to accumulate a revenue share of 35%.
- Electric locomotives are forecast to grow at a CAGR of 6.5% by 2033.
Competitive Landscape of Transportation and Security System Industry
Several prominent industry players are investing heavily in enhancing their manufacturing capabilities in the transportation and security market:
Top Companies in the Transportation and Security System Market:
- Safran Group
- Rapiscan Systems
- SAAB
- ABB
- Smiths Group
- ORBCOMM Inc.
- Lockheed Martin
- L-3 Communications
- Kapsch Group
- Honeywell International
Recent Developments in the Transportation and Security System Market:
- In March 2023, TSA will approach the airport security industry about open-systems technologies for screening passengers and baggage. For an Open Architecture Implementation project, the Transportation Security Administration (TSA) launched a request for information (70T04023I7573N001).
- In July 2023, NAIRAXI introduced transportation technology solutions. An innovation-driven mobility company named NAIRAXI has teamed up with Firstplus to create a digital mass-transit infrastructure for transport in the Federal Capital Territory (FCT). NIARAXI and its partners Firstplus maintain that digitizing mass transit within Nigeria needs the private sector’s involvement to mitigate suffering and challenges.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global transportation and security system market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
Key Segments in Transportation and Security System Market
The market is segmented based on systems, modes, and regions to understand transportation and security system market opportunities.
By System:
- Access Control
- Surveillance
- Fire Safety
- Scanning
- Biometrics
By Modes:
- Roadways
- Railways
- Airways
- Seaways
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
- Europe
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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