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Passenger Security Market Size, Share, Growth | Forecast [2020-2027]

Passenger Security Market Size, Share, Growth | Forecast [2020-2027] | Praj Nene | Scoop.it
The Global Passenger Security Market Size is projected to reach USD 8.45 billion by 2027, exhibiting a CAGR of 5.49% during the forecast period
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Scooped by Praj Nene
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Passenger Security Market Size, Share, Growth | Forecast [2020-2027]

Passenger Security Market Size, Share, Growth | Forecast [2020-2027] | Praj Nene | Scoop.it
The Global Passenger Security Market Size is projected to reach USD 8.45 billion by 2027, exhibiting a CAGR of 5.49% during the forecast period
Praj Nene's insight:
The global passenger security market is set to gain impetus from the rising investment in various countries in the construction of new airports. In the near future, Asia Pacific is estimated to possess more than 400 airports.
 Also, the increasing world travellers and air passengers in the 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. This information is given by Fortune Business Insights™ in a new report, titled, “Passenger Security Market Forecast, 2020- 2027.” 
The report further mentions that the passenger security market size was USD 5.85 Billion in 2019 and is projected to reach USD 8.45 Billion by 2027, exhibiting a CAGR of 5.49% during the forecast period. 
 The report uncovers following points: Renowned insights into the industry Important data with in-depth research Factors exhibiting market growth A comprehensive study about main regions COVID-19 impact on the market Prime developments in the industry Market Drivers Rising Threats of Bomb Attack, Man Pads, & Hijacks to Spur Growth In the aviation industry, rising number of suspicious activities and terror threats are creating high demand for robust frontline passenger security systems across the globe. It is anticipated to propel the passenger screening system market growth in the coming years. Numerous countries are already facing vital concerns regarding passengers who often try to carry illegal weapons, liquid explosives, and prohibited drugs. Hence, the provisions for the aviation authorities are enhanced by the international regulatory frameworks to detect and prevent such cases. The major types of threats are hijacks, man pads, and bomb attack. These malicious activities require maximum layers of security. By installing state-of-the-art technology systems, such potential hazards can be restricted.
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