X-Ray Security Screening System Market share to hit USD 3 Billion by 2023: Global Market Insights, Inc Fuel Cell Market size worth $25.5bn by 2024
Key Insights from X-Ray Security Screening System Market: • Global X-Ray security screening system market forecast to grow with 5.7% CAGR to surpass USD 3 billion by 2023. Rising concerns for safety at various places such as railways, airports, public places, stadiums, government applications, private sectors and border check lines will favor industry demand from 2016 to 2023. • Expanding unlawful and dishonest practices can be controlled with the help of x-ray screening frameworks thus avoiding economic, and human losses. Rising threat of psychological oppression and unlawful practices have brought about persistent upgrading of security and filtering items. • Commercial x-ray security screening system market will grow with 5.2% CAGR over the forecast period. Rising threat of terrorism has surged the need for scanning in commercial areas such as hotels, shopping malls and banks. The growing number of safety concerns on a global scale has compelled governments to re-evaluate their safety system and adapt new advanced mechanism to counter any future assaults. Conformity with safety measures and government regulations enacted to improve security infrastructure will positively impact x-ray security screening system market demand.
Continued... • Psychological oppressor assault dangers have driven huge interests in the flight security sector. In addition, drug trafficking, unlawful arms and movement have raised border security thereby driving industry demand. The consistent materials and products course through fringe intersections and ports are being checked to recognize various contrabands to avoid threats. • Technological advancements in ensuring the fail-safe detection with maximum scanning and replacement of obsolete scanning products with newer versions are expected to further drive the industry growth. • Stringent regulations have enforced manufacturers to continuously focus on upgrading existing technologies related to security products. For instance, VisiConsult can inspect suspicious objects in contactless way by mobile battery operated systems.Battery operated x-ray tubes and digital detectors create high resolution image of objects. Privacy intrusion of personnel, high upfront costs and alternative screening methods such as pat-down or frisking check is expected to hinder x-ray security screening system market demand over the forecast timeframe.
China X-Ray Security Screening System Market size, by end-use, 2012-2023 (USD Million)
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Continued... • People screening segment accounted for over 28% in 2015 and is estimated to have moderate growth from 2016 to 2023. Monitoring borders and roadways to detect smuggling and intrusion will support the segment demand. • Europe x-ray security screening system market share will have substantial growth from 2016 to 2023. Recent terrorist attacks in countries such as France, Germany, UK and Belgium will support the industry growth. MEA x-ray security screening system industry share accounted for over 5% of the revenue in 2015 and will have considerable growth from 2016 to 2023. Countries in the region are responding to ongoing disturbances with rapid spending on internal and homeland security technologies. • Companies operating in the x-ray security screening system market are Morpho Detection, Analogic Corporation, OSI Systems, Rapiscan, Adani Systems, and Smiths Detection. The industry is characterized by presence of several large and small scale vendors offering advanced features which are focused on expanding their product offerings by investing heavily in R&D and developing advanced technologies.
360° Analysis • Application Analysis • Product screening accounts for the largest share of the overall X-Ray Security Screening System Market share and is expected to dominate the application segment, with 5.8% CAGR estimation from 2016 to 2023. Rising need across the aviation as well as government sector for cargo, baggage, parcel or mail screening applications will surge demand over the forecast timeline. • Regional Analysis • U.S. X-Ray Security Screening System Market size was valued at USD 580 million in 2015, with gains estimate at over 5.7% from 2016 to 2023 owing to severe security regulations and measures adopted by the government. Replacement of outdated security screening system will also help the region to gain industry share over the forecast timeframe. Asia Pacific X-Ray Security Screening System Market share is expected to be the fastest growing region over the forecast period owing to momentous population base that translates to large number of travellers. • Competitive Market Share • Major companies involved in X-Ray Security Screening System Market share are Morpho Detection, OSI Systems, Analogic Corporation, Adani Systems, Rapiscan, Astrophysics and Smiths Detection. Other players are 3DX-Ray, American Science and Engineering (AS&E), Astrophysics, Auto Clear US, Eurologix Security, Gilardoni, Kapri and L-3 Communications.
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