Semiconductors & Electronics Industry Airport Security Market Trends, 2016 to 2024 | Page 3

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Geographies consist of North America, Latin America, Europe, Asia Pacific, and Middle East & Africa( MEA). North America dominated the market in the recent past. Middle East and Asia Pacific are predicted to contribute global market sales. Regional expansion owes to rising infrastructural developments and passenger volumes.
Threats to the aviation industry from criminals and extremist groups have emphasized the need for improved, well-maintained, and advanced security systems. In late 2013, the‘ International Air Transport Association’( IATA) and‘ American Concrete Institute’( ACI) jointly signed a memorandum to develop‘ Smart Security’ or‘ Smart S.’
‘ Smart S’ was an initiative focused on enhancing the efficiency, safety, and experience of airport passengers. The global airport security market is consolidated, fragmented, diversified, and competitive. Some of its key players are American Science & Engineering, L-3 Security & Detection, Safran Morpho, and Smiths Detection.
American Science & Engineering generated about 50 % of the total incomes in 2014. Collaborations and agreements are the frequent strategies through which competitors try to gain an edge over others.
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