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X-Ray Security Screening System Market Trends & Forecast 2024 By Major Industry Vendors: 3DX-RAY Ltd., Adani Systems Inc., Analogic Corporation, Astrophysics Inc., Gilardoni Spa, Autoclear LLC, Eurologix Security Group Ltd., Kapri Corp, Leidos Holdings, I
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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.
World X-Ray Security Screening System Market is set to grow from its current market value of $2 billion to more than $3 billion by 2024, to grow at 5% CAGR
Industry Growth drivers –
• High security risks associated terrorist attacks in the U.S.
• Emergence of stringent security measures in Europe
• Growing investments in Asia Pacific to develop airport infrastructure
• Rising focus on airport upgrades in China
• Growing construction of airports in Singapore
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.
Growing need to scan the cargos at the border checkpoints is driving the demand from transit industry, thus propelling the x-ray security screening system market over the forecast timespan. Companies in the industry offer a portfolio of configurable high-energy radiation scanning systems to keep the trade flowing smoothly. Technologies such as advanced cargo imaging and detection are developed that provides dynamic range and superior penetration views.
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Asia Pacific is expected to grow at a fast pace in the industry over the future, owing to growing number of passengers travelling through airways. Growing trade across the borders, particularly in developing countries including India and China is driving the adoption of these systems. Astrophysics, in partnership with the local supplier, will supply these equipment for the 2018 Winter Olympics and Paralympics in South Korea later this year, thus impacting the x-ray security screening system market size positively.
Growing instances of terrorist attacks in Europe in the past few years and growing threat from terrorist organizations such as ISIS is expected to drive the regional x-ray security screening system market growth. The November 2015 Paris attacks on multiple locations including music venues, restaurants & bars, and sports stadium compelled the government of France to implement the scanning equipment in all the public places, thereby impacting the industry positively. The bombings in Brussels in March 2016 encouraged the government of Belgium to implement advanced scanning systems in airports and metro stations all over the country. Such threats are expected to compel the government bodies to implement these devices, thus propelling the industry growth over the next seven years.
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X-ray security screening system market players 3DX-RAY Ltd., Adani Systems Inc., Analogic Corporation, Astrophysics Inc., Gilardoni Spa, Autoclear LLC, Eurologix Security Group Ltd., Kapri Corp, L-3 Communications Security & Detection Systems, Leidos Holdings, Inc., MinXray, Inc., Nuctech Company Ltd., OSI Systems, Inc., Scanna MSC Ltd., Smiths Detection, Todd Research Ltd., Totalpost Ltd., Vanderlande, Vidisco Ltd., VJ Technologies Inc., Westminster International Ltd., YXLON International GmbH.
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