X-Ray Security Screening System Market to hit 3 billion-dollar by 2024
SELLBYVILLE, Del., April 17, 2018 /PRNewswire-iReach/ -- According to a latest research report by Global Market Insights, Inc. " X-Ray Security Screening System Market is projected to reach a revenue of over USD 3 billion by 2024. Increasing occurrences of terroristic activities across the world and government initiatives to modernize airport security systems is aiding to the large-scale adoption of the x-ray security screening system market. The occurrences of airport bombing attacks and aircraft hijackings such as the March 2017 Orly Airport attack in Paris and the attempted attack on Malaysia Airlines are inducing a high rate of panic amongst the general population. Additionally, these attacks cause damages to the infrastructure leading to major financial losses being incurred by the government.
A high movement of illegal contraband such as drugs, radioactive materials, and weaponry across country borders is further propelling the x-ray security screening system market. The International Atomic Energy Agency (IAEA) reported nearly 2,500 incidents of trafficking of radioactive materials from 1995-2015. In light of such instances, governments of various economies are intensifying their security protocols and deploying advanced technologies in high-stress locations such as airports, transit locations, malls, and other public locations.
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There is a substantial increase in airport construction and modernization activities which is further propelling x-ray security screening system market demand. For instance, in September 2017, the Pittsburgh International Airport (PIT) and its managing Allegheny County Airport Authority (ACAA) announced that they had initiated a USD 1.1 billion terminal modernization plan. The plan places a high focus on improving the efficiency of the security screening process by installing new technologies that can detect the presence of contraband in luggage and on travelers and aims to replace traditional security processes.
Segmentation of the x-ray security screening system market by end-use indicates that the transit industry sub-segment will have the highest growth. These systems aid in identifying potential threats coming from the evaluation of suspicious packages, vehicle scanning, suspect scanning, custom searches through wall scanning to reduce disruption in the public.
The product screening application segment of the x-ray security screening system market holds the largest market share as they are used for the detection of illegal weapons, explosives, contraband, toxic materials and narcotics to safeguard people against any kinds of potential threats. The equipment is highly beneficial in cases where packages that cannot be unpacked for checking.
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High traveler traffic in transit locations and airport construction activities in the Asia Pacific region is a major factor aiding the x-ray security screening system market growth. Additionally, government initiatives such as the Chinese government mandated the provision of digital flat panel detector (FPD) X-ray systems in the Tier-2 rural hospitals. This trend is intensified in the European countries such as Germany where terroristic and smuggling activities have experienced a strong growth in the recent years.
X-ray security screening system market players Adani Systems Inc., MinXray, Inc., L-3 Communications Security & Detection Systems, Kapri Corp, Smiths Detection, OSI Systems, Inc., Astrophysics Inc., Autoclear LLC, Scanna MSC, and Vanderlande. Companies undertake strategies such as mergers, acquisitions, and product launches to sustain growth in the x-ray security screening system market. For instance, in October 2017, Scanna MSC announced the launch of Rapiscan 620XR VE small frame high performance x-ray screener for building and postal security clients having a low operating space.
Buy this industry insights spread across 140 pages with 118 market data tables & 32 figures & charts from the report, "X-Ray Security Screening System Market Size By End-Use (Government, Commercial, Transit Industry), By Application (Product Screening, People Screening), Industry Analysis Report, Regional Outlook (U.S., Mexico, Canada, UK, France, Germany, Italy, Russia, India, Japan, China, South Korea, Australia, Brazil, Argentina, Chile, Saudi Arabia, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:
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Chapter 4. X-Ray Security Screening System, By End-use
4.1. X-ray security screening system market share by product, 2016 & 2024
4.2. Transit industry
4.2.1. Market estimates and forecasts, 2013 - 2024
4.3. Commercial
4.3.1. Market estimates and forecasts, 2013 - 2024
4.4. Government
4.4.1. Market estimates and forecasts, 2013 - 2024
Chapter 5. X-Ray Security Screening System, By Application
5.1. X-ray security screening system market share by application, 2016 & 2024
5.2. People screening
5.2.1. Market estimates and forecasts, 2013 - 2024
5.3. Product screening
5.3.1. Market estimates and forecasts, 2013 - 2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/x-ray-security-screening-system-market-report
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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