The EU and individual governments have been sluggish when it comes to prioritising airport security. This has resulted in low purchase rates for airport security equipment, says industry analyst, Frost & Sullivan.
High costs of airport security equipment have also held back the market.
But in the wake of continued terrorist threats and new EU safety regulations, the market now looks set for robust growth.
Rising numbers of passengers and the need to upgrade existing systems will also make the market buoyant.
Biometrics technology and explosion detection will be particularly lucrative sub-sectors, say the analysts. Small, start-up suppliers can expect favourable financial backing from venture capitalist firms.
EU legislation aimed to standardise all airport security across member states will increase demand for biometrics and advanced scanning.
There will also be increased budgets from those countries looking to join the EU.
A renewed push for Europe to study measures similar to the US’s fledgling Registered Traveller programme will result in a massive growth in biometrics, say the analysts.
European Airport Security Equipment Market: Investment Opportunities is available from Frost & Sullivan. Visit www.frost.com