Security Screening Market Precise Outlook 2021- OSI Systems Inc., 3DX-Ray Ltd, Teledyne ICm, Analogic Corporation

The Global Security Screening Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The global security screening market was valued at USD 6.96 billion in 2019, and it is expected to reach a value of USD 9.14 billion by 2025, registering a CAGR of 5.10% over the forecast period 2020-2025

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Key Market Players:

Smiths Detection Inc., L-3 Communications Security and Detection Systems Inc., OSI Systems Inc., 3DX-Ray Ltd, Teledyne ICm, Analogic Corporation, Nuctech Company Limited, Astrophysics Inc., CEIA SpA, Gilardoni SpA and Other

The leading players of the Security Screening industry, their market share, product portfolio, company profiles are covered in this report. The leading market players are analyzed on the basis of production volume, gross margin, market value, and price structure. The competitive market scenario among Security Screening players will help the industry aspirants in planning their strategies. The statistics offered in this report will be a precise and useful guide to shape the business growth.
Key Market Trends

Airports to Hold Major Share

- The global aviation industry is observing a significant influx of passengers, and commercial air traffic is on the rise, owing to which airports are increasingly adopting innovative security screening solutions. According to IATA, the revenue of commercial airlines globally in 2018 stood at USD 812 billion and expected to reach USD 872 billion by 2020. _
- Moreover, the security coverage across the airport facilities is critical and global spending on enhancing airport security is on the rise; a prominent share of spending is expected to be towards incorporating new technologies in both hardware and software.
- Also, airports across the world are highly regulated and require upgraded technological solutions in screening; with constant developments and upgrades, the demand for screening solutions in this space holds a significant share of the market. For instance, according to Government Accountability Office (GOA) report on Transportation Security Administration�s (TSA) screening equipment in 2019, it found that their security screening protocols across the US airports were out of date.
- Apart from passenger screening, the demand for cargo screening is on the rise; vendors are increasingly developing solutions to cater to the growing demand. For instance, in March 2020, Rapiscan System's ORION series qualified for air cargo screening by TSA; the products come in two variants, baggage & parcel inspection (920DX) and large parcel & small cargo (928DX). _
- Besides, airport authorities across the world are mandating the use of new technologies and a particular type of screening products to enhance security; this is expected to further augment the demand over the coming years. For example, the UK has mandated that all major airports across the country install state-of-the-art 3D cabin baggage screening equipment by December 2022. The new CT scanners enable passengers to keep liquids and electrical equipment in their cabin baggage.

Asia-Pacific to Witness Highest Growth

- China is a major hub for air travel across the globe, with almost 238 civil airports in the country, as of 2019. According to the Civil Aviation Administration of China (CAAC) 's 13th Five Year Plan (2016 � 2020), China is anticipated to continue new airport construction including the Beijing Daxing International Airport which is one of the significant new airport under construction and part of its 44 new airport construction projects; Chengdu Tianfu Airport will be the 2nd largest new airport project in China. This gives several companies a market opportunity to sell their airport security equipment and services.
- In India rapid urbanization, population growth, expansion of industries, infrastructure and mass transportation systems are driving the expectations for enhanced safety and security measures specifically in critical national infrastructure sectors such as government research facilities, communication networks, defense establishments, emergency and disaster management systems, ports, critical manufacturing facilities, healthcare facilities, oil refineries, power plants, and mass transportation systems._The security screening market in India consists of different system integrators, local manufacturers, distributors and consultants, and service providers, and the industry is highly fragmented.
- Japan is moving towards establishing itself as a global tourist destination, as well as hosting a significant number of major international events, owing to which an increasing number of passengers are anticipated annually. Japan is known as one of the safest countries in the world, but there is also a growing demand for measures to ensure security and prevent terrorist attacks and increasing standards for safety, with various government bodies issuing new safety and security solutions.
- South Korea leads in the electronics segment, with two electronics giant companies, Samsung and L.G., based in the country. The emerging image technology, such as 4D, may have better opportunities for adoption by such major companies, which are also the market leaders in the segment, for maintaining their position. It is also expected to boost the demand in the R&D phase for the security screening systems in the regional market, especially among the market leaders of the respective industry.

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The market factors explained in the report:

Market Overview: It includes Security Screening Market study scope, top key players, segments, market analysis by application, market analysis by type, and other chapters that give an overview of the research study.

Executive Summary: The Security Screening Market report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

Regional Study: All of the regions and countries analyzed in the Security Screening Market report is studied on the basis of market size by application, the market size by product, key players, and market forecast.

Key Players: This part of the Security Screening Market report discusses expansion plans of companies, key mergers and acquisitions, funding and investment analysis, company establishment dates, revenues of manufacturers, and their areas served and manufacturing bases.
Market Forecast: Here, the report offers a complete forecast of the global Security Screening Market by product, application, and region. It also offers global sales and revenue forecasts for all years of the forecast period.

Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply-chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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