X-ray Security Scanner Market Outlook by Top Key Players Eurologix Security Group, L3 Security & Detection Systems, NUCTECH COMPANY LIMITED, OSI Systems, Astrophysics, ADANI, Gilardoni, Kromek Group, Smiths Detection, and TELEDYNE
Increasing cross-border transfer of goods is anticipated to escalate the X-ray security scanner market growth at a CAGR of 5.4%
Asia Pacific is the leading region in the X-ray security scanners market. The e-commerce industry of Asia Pacific region is flourishing attributed to the presence of several in the developing countries in the region. Further, the rising proliferation of internet connectivity and increasing penetration of smartphones is another factor driving the demand for e-commerce in Asia Pacific. Further, the increasing government spending on the infrastructure sector of the region is propelling the deployment of X-ray security scanners in the region.
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The major players operating in the market of X-ray security scanner include Astrophysics, Inc., ADANI, Eurologix Security Group, L3 Security & Detection Systems, NUCTECH COMPANY LIMITED, OSI Systems, Inc., Gilardoni S.p.A., Kromek Group plc, Smiths Detection Inc., and TELEDYNE ICM.
X-ray security scanner market is expected to grow from US$ US$ 3881.2 Mn in 2017 to US$ 5951.0 Mn by 2025 at a CAGR of 5.4% between 2018 and 2025.
X-ray security scanner market is growing globally with increasing development of infrastructure. Airports, being the biggest end-user of these systems, are noticing high investments in their infrastructure. Almost all the countries across the globe are investing in their airport infrastructure by either expanding the existing facilities or constructing new airports. Also, a growth has been noticed in the commercial infrastructure of emerging economies, resulting in construction of new shopping malls, hospitals, stadiums, and other commercial buildings. The deployment of X-ray security scanners in these buildings and airports, is expected to boost the market growth.
E-commerce industry is growing rapidly across the globe, with each passing day, a new e-commerce market is coming into existence and the established markets are reaching new heights.
E-commerce sales globally is expected to grow fiercely in 2017, it is expected that the market will account for one-tenth of total retail sales worldwide. China and the U.S. are expected to lead the industry with a share of US$ 1.6 Tn in 2017, which is approx. 70% of total e-commerce market. Furthermore, this will increase the growth of cross-border transfer of goods. This would result in deployment of enhanced security equipment for scrutinizing goods that enter or exit the border of the countries. Thus, the demand for X-security scanners is anticipated to increase. This has resulted in increasing air cargo traffic. As per IATA, global air freight market grew by 9% (measured in AFTKs) in 2017, representing over double the annual growth recorded in 2016. The growth in air cargo will result in increased deployment of X-ray scanning devices in ports, cargo facilities, warehouses etc.
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TABLE OF CONTENTS
1.1 Scope of the Study
1.2 The Insight Partners research reports guidance
2 key takeaways
2.1 Need for infrastructure investments of African region
2.2 Increasing FDI in Infrastructure of APAC countries
2.3 Expansion of airports across the world
3 X-Ray Security Scanner market landscape
3.1 Market overview
3.2 Africa x-ray security scanner mapping by application area
3.3 Supply chain analysis
3.3.1 Insight on Third World Countries OEMS
188.8.131.52 African Countries
3.4 Market segmentation
3.4.1 Global X-Ray Security Scanner Market – By Product Type
3.4.2 Global X-Ray Security Scanner Market – By End-user
3.4.3 Global X-Ray Security Scanner Market – By Geography
3.5 pest analysis
3.5.1 North America PEST Analysis
3.5.2 Europe PEST Analysis
3.5.3 Asia Pacific PEST Analysis
3.5.4 Middle East & Africa PEST Analysis
3.5.5 South America PEST Analysis
4 X-Ray Security Scanner market – key industry dynamics
4.1 key market drivers
4.1.1 Growing global air passenger traffic resulting in expansion of airport infrastructure
4.1.2 Persistent and evolving attacks resulting in loss of human life
4.1.3 Blooming e-commerce industry resulting in increased cross-border transactions
4.2 Key market restraints
4.2.1 Health concerns related to X-ray radiations hampering the growth of full-body X-ray scanners
4.3 key market opportunities
4.3.1 Rising deployment of X-ray security scanners for urban infrastructure
4.4 Future trends
4.4.1 Microfocus X-Ray as an emerging technology
4.5 impact analysis of Drivers and restraints
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.
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