Newark, NJ, Aug. 10, 2021 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global X-Ray Security Screening Systems market is expected to grow from USD 3 billion in 2020 and to reach USD 4.67 billion by 2028, growing at a CAGR of 5.7% during the forecast period 2021-2028.
X-Ray security screening systems enables to detect the concealed weapons, drugs, explosives and other contraband without any physical contact between the persons to be screened and the security scanner. X-Ray Security Screening systems consist of displays, scanners and conveyors that help to detect the dangerous or explosive materials. Transportation Security Administration (TSA) uses X-ray security screening systems so as to check the luggage and carry-on-items. X-Ray screening systems are implemented in Airports to ensure both the passengers as well as the assets safety. Railways also use these X-Ray security systems to screen the trains for illegal or dangerous cargo. The organic growth strategies of the market are product approvals, product launches etc. The inorganic growth strategic activities were acquisitions, collaborations and partnerships. Both these organic and inorganic strategic activities helps for the development of customer base and the expansion of business.
X-Ray Security Screening Systems helps in displaying crisp and clear image of the objects that are scanned. These security systems are used to scan parcels, baggage so as to identify and avoid unethical or illegal activities if any. Thus it results in preventing human loss, financial loss and economic loss. The usage of X-ray security systems reduces the need for intervention of humans and eliminates human error factor. On the basis of Product, X-Ray Security Systems are of many types such as biometric systems, shoe scanners, explosive trace detectors, liquid scanners, X-ray screening system and electro- magnetic metal detectors.
The global X-Ray Security Screening Systems market is expected to witness significant growth, owing to its ease of use, safe and fast, growing concerns over terrorist attacks which encouraged the respective authorities to adopt enhanced safety systems, technological advancements like software upgrades, detectors etc., emergence and use of 3D imaging, advent of Artificial Intelligence (AI) that enables to reduce human intervention. Growing E-Commerce drives the market growth as it helps to prevent the danger of hazardous elements being added to the products through supply chain. The factors restraining the market growth are unavailability of reliable supporting infrastructure, high costs, out-break of Covid because it affected the commerce industry in several countries due to travel restrictions, cancellation of trade fairs and sports events that leads to economic losses to many countries. The radiations named Carcinogenic released by the usage of X-Ray Security Systems may hinder the market growth. Advancements of X-Ray Security Screening Systems that takes less time for scanning creates new market growth opportunities.
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Key players operating in global X-Ray security screening systems market include Inward Detection, Astrophysics Inc., LIXI Inc., NUCTECH Co.Ltd, Autoclear LLC, Polimek Electronics, Adani Systems Inc., Rapiscan Systems Inc., Analogic Corporation, GILARDONI S.p.A., S2 Global, Smiths Detection Group Ltd, SCANNA MSC Ltd, Vidisco Ltd, VOTI Detection, Vanderlande Industries, Kapri Corp, Todd Research Ltd, Leidos Holdings Inc., Eurologix Security Holding Group, Minxray Inc., OSI Systems Inc., TOTALPOST MAILING LTD, Westminster International Ltd, X-Ray Center Ltd, Analyzed Images, FISCAN, 3D X-RAY Ltd., American Science and Engineering Inc., Argus Global Pvt Ltd., Digital Barriers plc., Aware Incorporation, Implant Sciences Corporation, Safran SA, Magal Security Systems Ltd., MinXray Inc., L-3 Communications Security and Detection Systems.
Product Screening dominated the market and held the largest market share of 61.93% in the year 2020
On the basis of application, the global X-Ray security screening systems market is segmented into product screening and people screening. Product screening dominated the market and held the largest market share of 61.93% in the year 2020. This growth is attributed to the increasing incidences of drug, human and weapon trafficking.
Transportation segment dominated the market and held the largest market share of 42.15% in the year 2020
On the basis of end-use, the global X-Ray security screening systems market is segmented into government, transportation and commercial. Transportation segment dominated the market and held the largest market share of 42.15% in the year 2020. This growth is attributed to the stringent safety measures by the government to counter the threats and risks, development of flexible X-ray security systems, increasing number of passengers.
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Regional Segment of X-Ray Security Screening Systems Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global X-Ray Security Screening Systems market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia- Pacific region holds the largest market share of 26.67% in the year 2020. This growth is ascertained by Asia- Pacific region owing to continued investments in upgrading transport infrastructure in urban areas, rapid urbanization, improving economic conditions that encourages the government to strengthen the security systems at public places like transport checkpoints, government buildings etc. Requirement of X-ray security screening systems is more in Asia- Pacific region due to increasing number of terrorism, unlawful activities etc. North America holds the second largest market share owing to the increased adoption of security systems by government authorities and installation updates.
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About the report:
The global X-ray security screening systems market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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