Research commissioned by Future Fibre Technologies (FFT) has revealed that global spending on airport security is set to increase in an effort to combat increasing threats to security.
Global factors including increased threat of terrorism, international travel and infrastructure spending, consequently higher insurance premiums and technological innovation are fuelling the increase.
The research results, which were released in FFT’s Boundaries of Security report, show that non-residential perimeter security fence spending, of which 10.1% accounts for perimeter fencing for sites such as airports, prisons and military installations, totalled $927 million in 2009. It is predicted that this spending will increase at a rate of 2.9% per year to reach $1.01 billion in 2012.
This trend is supported by research firm Frost & Sullivan. According to a homeland security newswire (HSN) report, Frost & Sullivan’s market analysis showed that “the airport security market is giving all indications it will start another boom period,” similar to the boom experienced after the 9/11 terrorist attacks in 2001. “Billions of dollars have been allocated toward bolstering airport security… [including] more attention to perimeter security.”
Within the airport security market, the HSN report states that perimeter security “is big – and it is growing.” One factor that can account for this growth is “booming passenger capacity.”
In 2008, international tourist arrivals reached a staggering 924 million globally, up 16 million from 2007. Euromonitor’s 2008 global trends report indicates that by 2020 1.6bn individuals will travel internationally every year.
This increased international travel has directly impacted airports, increasing the necessity for strict security. “The globalisation of business, trade and travel is substantially increasing the number of people flowing through airports…increasing the need for these infrastructures to be secured,” states the Boundaries of Security report. Please see our profile page for a link to the report.