Security Screening Market Research Methodologies Offers High Business Outlook growth 2022-2027

The Security Screening Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Security Screening market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Security Screening market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Security Screening market.

The global security screening market was valued at USD 7.13 billion in 2020 and is expected to reach USD 9.51 billion by 2026 and grow at a CAGR of 5.1% over the forecast period (2021-2026). 

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Top Leading Companies of Security Screening Market are - 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 others.

Industry News and Updates:

- May 2020 - Leidos completes acquisition of L3Harris Technologies' Security Detection and Automation Businesses creating a comprehensive, global security and detection portfolio. The acquired businesses provide airport and critical infrastructure screening products, automated tray return systems and other industrial automation products.

- April 2020 - OSI Systems, Inc. had announced that its Security division was awarded an order from its partnering organization. The order valued at approximately USD 14 million to provide comprehensive service and maintenance support for Rapiscan baggage and parcel inspection (BPI) systems.

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.

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.

Investigator Observers Strong Growth in Specific Regions:

- Europe Market (Germany, UK, France, Russia, Italy)

- Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)

- South America Market (Brazil, Argentina, Colombia)

- North America Market (United States, Canada, Mexico)

- Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).

The Latest Industry Data Included in this Report:
- Security Screening Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Security Screening Market (%),2016 - 2026
- Security Screening Market Share, By Brand
- Security Screening Market Share, By Company
- Security Screening Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Security Screening Market Value Analysis & Forecast
- Promising Security Screening Development by Major Companies
- Detailed Security Screening Portfolio of the Major Companies
- Major Deals in the Security Screening Market
- Major Companies Analysis

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