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3. Need for public safety and massive infrastructural development boosts the transportation safety and security market.

The transportation safety and transportation security market is gaining momentum, gradually over the years due to the constant need of public safety and massive infrastructural development of critical transportation facilities including airports, seaports, railway stations, highways, bridges, tunnels, and bus stations.

The transportation safety and transportation security market is gaining momentum, gradually over the years due to the constant need of public safety and massive infrastructural development of critical transportation facilities including airports, seaports, railway stations, highways, bridges, tunnels, and bus stations. The surging crimes, antisocial behaviors, immigration of illicit goods, and subsequent terrorist attacks have enforced the awareness of security among the local and federal government. Moreover, the government spending on various advanced technological solutions is also one of the major driving factors. Also, new government-regulated bodies have been formed across the globe to alleviate the situation including Transportation Security of Administration (TSA), European Maritime Safety Agency (EMSA), and European Railway Agency (ERA).

The North American (NA) market is expected to have the largest market size in 2013, followed by Europe. The Asia Pacific (APAC) market is expected to show the dynamic growth over the next 5 years. Growth in the Middle East and Africa (MEA) is also expected in the future, due to rapid infrastructural development and enhanced business continuity.

MarketsandMarkets provides exhaustive revenue forecast and basic information from its latest research report. The ‘Transportation Safety and Transportation Security Market: Global Advancements, Market Forecasts and Analysis (2013-2018)’ report is now available for purchase.

According to the report findings, secure communication system is expected to have the highest growth rate over the next 5 years. However, the screening and scanning market is expected to generate the highest revenue during the forecast period. Integrated solutions on a single platform are gaining traction and investment from diverse vendors including Thales, Saab, Alstom, and Honeywell International; this new trend would influence the future growth of the market. Airways are expected to gain the highest market share among all the modes of transportation. MarketsandMarkets forecasts the global transportation safety and security market to grow from $37.80 billion in 2013 to $62.96 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 10.7% from 2013 to 2018.

Related Reports:

Transportation Safety and Transportation Security Market Modes (Airways; Seaways; Roadways; Railways); Systems (Access Control; Surveillance, Scanning, Screening, Tracking, Navigation, Fire Safety): - Worldwide Market Forecasts (2013 - 2018).
https://www.marketsandmarkets.com/Market-Reports/transportation-safety-security-market-1287.html

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