Global Security Screening Market Size, Status and Forecast 2021-2026
Global Security Screening Market Research Report 2021-2026 is a valuable source of insightful information for commercial enterprise strategists It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope, and application of this report.
The global security screening market was valued at USD 7.13 billion in 2020 and is expected to reach USD 9.51 billion by 2026 and grow at a CAGR of 5.1% over the forecast period (2021-2026).
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Top Companies in the Global Security Screening Market are Smiths Detection Inc., L-3 Communications Security and Detection Systems Inc., OSI Systems Inc., 3DX-Ray Ltd, Teledyne ICm, Analogic Corporation, Nuctech Company Limited, Astrophysics Inc., CEIA SpA, Gilardoni SpA and Other
-March 2017- Analogic Corporation (Nasdaq:ALOG), enabling the world’s medical imaging and aviation security technology, today announced that it will launch its ConneCT™ Checkpoint CT (computed tomography) screening system for the European market at the Passenger Terminal Expo in Amsterdam, March 14—16. Utilizing Analogic’s advanced CT technology alongside state-of-the-art threat detection software, the ConneCT incorporates the latest in security and medical innovations to lower airport screening costs, increase passenger throughput and elevate the level of security for the traveling public.
Key Market Trends
Airports to Hold Major Share
– The global aviation industry is observing a significant influx of passengers, and commercial air traffic is on the rise, owing to which airports are increasingly adopting innovative security screening solutions. According to IATA, the revenue of commercial airlines globally in 2018 stood at USD 812 billion and expected to reach USD 872 billion by 2020. ?
– Moreover, the security coverage across the airport facilities is critical and global spending on enhancing airport security is on the rise; a prominent share of spending is expected to be towards incorporating new technologies in both hardware and software.
– Also, airports across the world are highly regulated and require upgraded technological solutions in screening; with constant developments and upgrades, the demand for screening solutions in this space holds a significant share of the market. For instance, according to Government Accountability Office (GOA) report on Transportation Security Administrations (TSA) screening equipment in 2019, it found that their security screening protocols across the US airports were out of date.
– Apart from passenger screening, the demand for cargo screening is on the rise; vendors are increasingly developing solutions to cater to the growing demand. For instance, in March 2020, Rapiscan System’s ORION series qualified for air cargo screening by TSA; the products come in two variants, baggage & parcel inspection (920DX) and large parcel & small cargo (928DX). ?
– Besides, airport authorities across the world are mandating the use of new technologies and a particular type of screening products to enhance security; this is expected to further augment the demand over the coming years. For example, the UK has mandated that all major airports across the country install state-of-the-art 3D cabin baggage screening equipment by December 2022. The new CT scanners enable passengers to keep liquids and electrical equipment in their cabin baggage.
Asia-Pacific to Witness Highest Growth
– China is a major hub for air travel across the globe, with almost 238 civil airports in the country, as of 2019. According to the Civil Aviation Administration of China (CAAC) ‘s 13th Five Year Plan (2016 2020), China is anticipated to continue new airport construction including the Beijing Daxing International Airport which is one of the significant new airport under construction and part of its 44 new airport construction projects; Chengdu Tianfu Airport will be the 2nd largest new airport project in China. This gives several companies a market opportunity to sell their airport security equipment and services.
– In India rapid urbanization, population growth, expansion of industries, infrastructure and mass transportation systems are driving the expectations for enhanced safety and security measures specifically in critical national infrastructure sectors such as government research facilities, communication networks, defense establishments, emergency and disaster management systems, ports, critical manufacturing facilities, healthcare facilities, oil refineries, power plants, and mass transportation systems.?The security screening market in India consists of different system integrators, local manufacturers, distributors and consultants, and service providers, and the industry is highly fragmented.
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Highlights of the Security Screening Market Report::
- Detailed overview of Security Screening Market
- Changing Security Screening market dynamics of the industry
- In-depth market segmentation by Type, Application etc.
- Historical, current and projected Security Screening market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Security Screening Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth.
The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Finally, Security Screening Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and so on. Security Screening industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain have been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.
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