European Airport Security market to quadrouple by 2010
New analysis from Frost & Sullivan “European Airport Security Equipment Market: Investment Opportunities” reveals that the European airport security market earned revenues (top 47 participants) of $2.37 billion in 2005 and estimates this to reach $10.35 billion in 2010.
The European airport security market looks set for robust growth, particularly in the wake of continued terrorist threats, new European Union (EU) airport security regulations, rising passenger traffic and the increasing need to upgrade installed security equipment, as well as integrate this with newly implemented technology.
Opportunities are particularly lucrative in the biometrics and explosive detection sub-segments, where small start-up companies offering innovative technologies can expect favourable financial backing from venture capitalist firms.
“While there are over 491 airports in Europe as of March 2006, another five to six airports are currently under construction with a plan for twenty other airports to be upgraded,” notes Frost & Sullivan Financial Analyst Rani Cleetez. “In addition, the privatisation of certain European airports will necessitate better security equipment, in order to meet the latest international security standards, as well as to ensure world class airport status.”