The transportation industry forms the backbone of every economy, driving it towards success with a strong network. The two go hand in hand, complementing each other’s growth patterns. Over the years, the global transportation industry has flourished significantly as economies have expanded, strengthened, and limped back to normalcy despite a few pitfalls. This growth has demanded the inclusion of safety and security measures for proliferating the transportation industry in a time of rising crime rates. Owing to these reasons, the global transportation and security systems market has witnessed a huge surge.
Industry Aims to Mitigate Losses
The objective of the global transportation and security system market is to offer solutions that are aimed towards protecting modes of transport from any possible terrorist activities and reduce the harm that criminal activities can cause in the case of a dangerous situation. Additionally, the market also has customized solutions for making public transport safer by offering a wide range of safety and security arrangements such as proper scanning, access control, and continuous surveillance with security cameras to mitigate losses.
Lockheed Martin Aims to Make Travel Safer
The frequency of warnings against terrorist attacks at rail terminals, airports, and other transportation facilities, especially, has been high all across the globe. The inevitability of attacks and threats has urged several manufacturers and designers in the global transportation and security system market to design solutions that can deter and derail the terrible consequences.
For instance, in August 2015, the Transportation Security Administration (TSA) chose Lockheed Martin for executing the Transportation Security Equipment Deployment Services (TEDS) across the Western Region of the United States, which covers regions such as Alaska, Hawaii, Guam, and Colorado. This is aimed at deploying checkpoint systems for carry-ons, passengers, and checked baggage screenings to offer the passengers utmost protection and facilitate safe travel.
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Some of the key players in the transportation and security system market are Rapiscan Systems Saab Ab-B, Lockheed Martin, Alstom, Safran Group, Kapsch Group, Orbcomm, Honeywell International, L-3 Communications, and Smiths Group. These companies are operating in regions such as North America, Europe, Asia Pacific, and Rest of the World. The systems designed by these companies are categorized as access control, surveillance, scanning, fire safety, and biometrics. These systems are used for modes such as the roadways, railways, airways, and seaways.
Rising Acts of Terrorism in Asia Pacific Augment Market
According to a research report published by Transparency Market Research, a reputed research firm, North America held a dominant share in the global transportation and security system market in 2014. Analysts predict that this trend will continue in the coming years. This dominance will be attributable to the growing number of vehicles being fitted with modern electronic devices for safety and navigation, which is the fundamental equipment for ensuring security in the world of transportation. The research points out that Asia Pacific will offer an impressive impetus to the transportation and security system market due to increasing criminal activities and an unprecedented crime rate, especially in countries such as Pakistan, Bangladesh, Sri Lanka, and India. On a global scale, the transportation and security system market will be driven by the strict regulatory framework demanding vehicle safety.