Aviation securityAviation security market to reach $289 billion by 2015
Analysts estimate that the aviation security market will reach $289 billion by the year 2015; air carriers around the world are set to take delivery of 29,400 planes with a total value of $3.2 trillion by 2028 — and governments and carriers alike are eager to create a robust security foundation for this growing fleet
The goal is layers of security // Source: gc.ca
In the wake of last week’s scare in which multiple bombs designed to explode aircraft in mid-flight made it into the holds of passenger flights, several organizations are predicting increased demand for security technology. In a report released last week, Global Industry Analysts (GIA) predicts that airport security will reach $289 billion by the year 2015. GIA cites the rise of in-bound terrorism from developing countries such as Yemen puts pressure squarely on the airline industry to upgrade and ensure the efficiency current security measures.
“Quite a lot of cargo is not searched,” Smiths Detection president Stephen Phipson told a BBC interviewer after the plot was discovered. Phipson said that though the United Kingdom is commonly perceived as being rigorous, it was not as advanced as the U.S. system.
As the United States emerges from the recent economic recession air travel is expected to grow appreciably. The International Air Transport Association provides some context for long-term growth in its Aerospace Industry Forecast to 2013 in which it estimates that airlines will take delivery of 29,400 planes with a total value of $3.2 trillion. Asia is anticipated to be the fastest growing sector with China alone expected to invest $390 billion by 2028 according to the IATA report.
Many industry leaders remain cautious of the extent of security currently in place. British Airways chairman Martin Broughton made news in recent days when he complained at an industry conference of excessive screening for international flights. Ryanair chief executive associated himself with the criticism after the Yemeni plot was foiled, telling the Telegraph that authorities might make travel “even more uncomfortable and tedious.”
