Tuesday, August 27, 2013: An ASSOCHAM study reveals that Indian aviation security market will possibly cross Rs 310 billion by the year 2015 from the existing level of more than Rs 160 billion. The study titled ‘India Homeland Security Market: An Emerging Opportunity,’ states that the airport security market comprising different segments – security, disaster response, identification, manning and cyber security is growing at a compounded annual growth rate (CAGR) of about 25 per cent.
According to the study, the future of airport security will be shaped by systems that integrate perimetric security equipment with surveillance equipment. As of now, physical manpower controls more than Rs 16 billion of the aviation security market in the country every year and the responsibility is taken by the Central Industrial Security Force (CISF) and private security guards of airport operators. But, the main opportunity is vested in bullet proof jackets, hand held weapons and light armored vehicles.
Apart from this, the perimetric security accounts for Rs 13.5 billion, disaster management and control about Rs 11 billion, identification and access control command about Rs 3.8 billion of the aviation security market each year. Moreover, the demand for air travel is increasing continuously throughout the globe and hence, the need to take strict safety measures in order to counteract threat from terrorists is also pushing the growth of global aviation security market.
