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6

As of 12/31/2016

6

Year in Review

2016

Aviation Checkpoint Security Solutions

Buyer

Target

M&A Activity Summary

Source: Public Filings, Industry Newswires, S&P Capital IQ

Explosives Trace Detection (ETD) assets

Over the course of the last year, there have been several high profile

transactions in the airport security checkpoint arena. These

transactions have been fueled by demand from regulatory agencies,

airports, and the airlines to provide a better overall passenger

experience by increasing throughput, accuracy, and efficiency at

airports around the world.

Airports around the world strained from the past decade’s extensive

growth in passenger traffic (PAX). Near-record 740 million passengers

were expected to have flown in 2016, 97 million more (a 13%

increase) than flew three years ago. Hartsfield–Jackson Atlanta

International Airport saw a 5.5% increase in PAX and a record breaking

100 million passengers in 2015.

In the spring of 2016, the TSA witnessed a public relations nightmare,

as multiple media articles recounted the long lines and general

mismanagement at security checkpoints. As a result, a congressional

hearing was held to explore the causes and possible solutions to

relieve overburdened checkpoints throughout the country.

There are several technologies under review in the marketplace,

including Automated Tray Return Systems, Remote Screening,

Computed Tomography (CT) scanners, and next generation metal

detectors, which have proven effective in limited applications. As

these technologies become more commonplace, significant demand in

the marketplace is anticipated as firms consolidate and as companies

try to provide a more comprehensive checkpoint solution.

X-ray Inspection & Other Detection Products

Self-service Bag Drop Appliances

Parent Company of Rapiscan Systems, Inc.

Notable Security Trends

Notable Acquisitions and Consolidations