Transportation Safety And Transportation Security Market - Forecast(2024 - 2030)

Transportation Safety And Transportation Security Market Overview

The Transportation Safety And Transportation Security Market size is forecast to reach $8,604.6 million by 2026, growing at a CAGR of 7.1% from 2021 to 2026. The rising rate of roadside fatalities along with growing demand for video surveillance, traffic monitoring, access control and many others impact the need for traffic control system, and act as some of the vital factors attributing to its market growth. In addition, growing support towards improving baggage screening within railways and airports along with rising demand for cargo inspection systems, intrusion detection systems and so-on can also drive the market growth forward. Governmental initiatives towards improving safety and security standards within public transports, as well as growing adoption of artificial intelligence for smart and real time transportation security is set to further assist the market growth in the long run.

Transportation Safety And Transportation Security Market Report Coverage

The report: “Transportation Safety and Transportation Security Industry Outlook– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Transportation Safety and Transportation Security industry.

By Offering: Software, Hardware
By Transportation Mode: Railways, Airways, Roadways, Waterways
By Application: Video Surveillance, Cargo Inspection, Traffic Control & Management, Access Control, Passenger & Baggage Screening, Intrusion Detection, Tracking & Navigation, Fire Safety Detection, Others
By Geography - North America (U.S, Canada, Mexico), Europe (UK, Germany, France, Italy, Spain, Others), APAC (China, Japan India, South Korea, Australia, Others), South America (Brazil, Argentina, Others), RoW (Middle East, Africa)

Key Takeaways

• Transport Safety and Transport Security for Cargo Inspection application is analysed to witness the fastest market growth during the forecast period 2021-2026, owing to factors like rising cargo freight transportation of illicit goods and stringent mandates towards cargo checking regarding import and export trade activities.
•  APAC Transportation Safety And Transportation Security Market held the largest share in 2020, attributed to rising in number of land transport accidents, as well as government efforts towards increasing public transport security and surveillance.
• Growing adoption of advanced technologies like artificial intelligence towards enhancing transportation security along with governmental initiatives for improving public transportation safety and security standards is analysed to significantly drive the Transportation Safety And Transportation Security Market during 2021-2026.

Transportation Safety And Transportation Security Market Segment Analysis- By Offering

Based on offering segmentation, Software is analysed to grow with the highest CAGR of 7.5% in the Transportation Safety And Transportation Security Market during the forecast period 2021-2026. Factors including a rise in road collision incidents, adoption of advanced technologies like artificial intelligence, IoT and so on for improving transportation safety standards and so on have attributed to the market growth. Utilization of transportation security software have been gaining wide popularity across varied public transportation applications, owing to its capabilities including faster and real-time data insights with high accuracy. Since software models offer accessibility on multiple platforms, like cloud, web, smartphones, and so on, public transport activities including security operations, traffic control, and surveillance with others, are highly optimized, raising its market demands overtime. In October 2020, Civix announced the launch of a fully integrated software solution, Transit Safety & Operations Compliance System, as a part of compliance with Public Transportation Agency Safety Plan Final Rule. This development was intended to help transportation system operators towards minimizing risks, as well as increasing safety through offering location based real-time communication of activities or incidents related to operational units leveraging web, mobile and GIS technology. Such factors are set to assist the market growth of software offering transportation safety and security in the long run.

Transportation Safety And Transportation Security Market Segment Analysis-By Application

Cargo Inspection is analysed to emerge as the fastest growing segment in the Transportation Safety And Transportation Security Market, with a CAGR of 7.8% during the forecast period 2021-2026. Factors including growing illegal trade activities, rise in freight transportation of illicit goods, along with stringent norms towards trade of imported goods in cargo transport have been attributing to its market growth. Additionally, rising rate of crimes related to cargo thefts along with the adoption of advanced cargo scanning solutions can also impact the need for cargo security and safety solutions. According to the cargo theft report of Transported Asset Protection Association (TAPA), about 6463 cases of new cargo thefts was recorded across 56 countries within the EMEA region in 2020, causing an average loss of €471,432 (around USD 578.49) per day. Such a rise in cargo thefts within countries will create a positive impact towards raising the market demand for cargo surveillance and inspection, driving its market growth forward. In April 2021, Federal Board of Revenue (FBR), announced the introduction of an automated process for scanning cargos, as a part of replacing physical inspection of cargos, while reducing dwell time at ports. The inclusion of an automated process within the web-based one customs system for scanning of containerized import consignments of varied industrial raw materials, helping in speedy port clearance is set to assist the market growth in the coming time.

Transportation Safety And Transportation Security Market Segment Analysis- By Geography

APAC region had dominated the global transportation safety and security market with the largest share of 37% in 2020 and is also analysed to maintain a significant growth during the forecast period 2021-2026. Rising rate of railway fatalities or accidents and growing governmental measures to boost public transport safety and security have attributed to the market growth. In addition, technological advances towards leveraging AI or IoT based transportation security or surveillance, deployment of video surveillance cameras within roads to address over speeding or crash incidents, as well as rising shift towards automated security checks within airport infrastructures is also set to drive the market forward. In October 2021, Smiths Detection had revealed about receiving a contract from Japan Customs regarding supply of two dual-view HCVS high performance cargo inspection systems, named Hi Energy 9 MeV. Under this contract, installations of these cargo inspection systems will be starting off from April 2022, to be used for screening trucks as well as cargo containers for Tokyo Customs, Jyonanjima and Kobe Customs, Mizushima. Such factors are set to boost the market growth towards transport safety and security within the region in the long run.

Transportation Safety And Transportation Security Market Drivers

Growing adoption of advanced technologies like artificial intelligence (AI) to enhance transportation security drives the market forward

The growing adoption of advanced technologies like artificial intelligence (AI) to enhance transportation security can also be considered as one of the major drivers boosting the market growth. Integration of AI technologies help in improving multi-view scanning or screening, biometrics, and others, thus ensuring optimum transport surveillance and security. Adoption of transport security and safety solutions based on AI algorithms, contribute to the expansion of passenger or baggage screening, collision incidents and related application areas with high accuracy, reliability within real-time, aiding its market growth. Factors including growing adoption towards incorporating AI based security systems to improve airport security, along with governmental investments towards boosting public security by supporting AI surveillance can also fuel its market growth overtime. In January 2019, the US Transportation Security Administration announced about the introduction of computed tomography scanners, with AI capabilities as a part of targeting threats at the Los Angeles International Airport. In June 2021, Nauto announced the launch of an artificial intelligence (AI) based driver and fleet safety platform. With advanced AI capabilities, this platform includes automatic detection of varied high-risk driver behaviors within the vehicle, through offering real-time alerts for greater driver as well as fleet safety or risk reduction. Such advancements towards development of AI transport safety solutions while providing notifications or alerts regarding pedestrian collision, over speeding limits, intersection violations, as well as progressive fatigue or drowsiness, is set to drive the market forward in the coming time.

Governmental initiatives towards improving public transportation safety and security standards positively impact market growth

Governmental initiatives towards improving public transportation safety and security standards act as a major factor boosting its market growth. With rise in public transportation-based crimes, accidents and so on, various government bodies, authorities or regulating organizations have already started shifting their focus on raising travel safety and security standards. In addition, with the outbreak of COVID-19 pandemic, the need towards monitoring passengers within public transport have become highly essential, thereby driving the need for transportation safety and security systems. In March 2021, the French Government announced authorization of using surveillance cameras as a part of monitoring passengers abiding by wearing masks, traveling in public transport. This initiative by the government was meant to help public transport operators monitor as well as record the number of passengers wearing masks during their public transport travel. Such factors are further set to fuel its market growth for serving surveillance and screening requirements as a part of improving public transport safety by the government in the long run.

Transportation Safety And Transportation Security Market Challenges

Security and privacy concerns related to transport surveillance hinders its market growth

Security and privacy concerns related to transport surveillance act as one of the major factors restraining its market growth. Incorporating video surveillance systems within public transport infrastructures including railways, airways and others can lead to hampering an individual’s privacy without permission or authorization. With technological advances, varied types of security solutions have been getting utilized which are capable of capturing personal or confidential information during passenger screening at airports, railway stations and so on. Since these recorded data gets stored within the public transport databases, concerns like data exploitation, identity loss, data misuse and many others create a potential threat for the travellers as well as transport service operators. Such factors have been eventually making it a significant downside, creating an adverse impact on the adoptability of transport safety and security solutions.

Transportation Safety And Transportation Security Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Transportation Safety And Transportation Security Market. The Transportation Safety and Transportation Security top 10 companies include market include:

1. Smiths Detection
2. Raytheon Technologies
3. OSI Systems Inc.
4. Kapsch Group
5. Honeywell International Inc.
6. Siemens AG
7. Orbcomm Inc.
8. Lockheed Martin Corporation
9. Alstom SA
10. Thales Group

Acquisitions/Technology Launches/Partnerships

• In September 2021, Smiths Detection announced the launch of an enhanced cargo screening scanner, Hi-Scan 1000100V-2is, as a part of an update to its Hi-Scan product line. This development was done to offer faster, reliable as well as cost-effective air cargo screening, particularly designed to serve accelerated screening, meeting with the growing demands of fast-turnaround high volume air cargos. 
• In March 2021, Raytheon Technologies had revealed about receiving a $318 million contract for deployment of equipment for security screening of checked passenger bags within airports, as a part of helping Transportation Security Administration.

Relevant Report Titles:

Remote Vehicle Diagnostics & Management Market- Forecast (2021-2026)

Report Code: ATR 0003

Mobility Aids and Transportation Equipment Market- Forecast (2021-2026)

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