Press release
Screening Security: Security Screening Market Report Reveals Demand, Key Trends, and Growth Rate
The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033The Business Research Company offers in-depth market insights through Security Screening Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The security screening market size has grown strongly in recent years. It will grow from $9.94 billion in 2023 to $10.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increased threats and security concerns, rising air travel and transportation security needs, global events and terrorism, public awareness and expectations.
The security screening market size is expected to see strong growth in the next few years. It will grow to $14.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to contactless screening solutions, enhanced threat detection algorithms, focus on privacy and data security, customs and border security application. Major trends in the forecast period include integration with biometric technologies, technological integration in critical infrastructure protection, advancements in detection technologies, multi-modal biometric screening, remote screening and monitoring.
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Market Segmentation:
The security screening market covered in this report is segmented -
1) By Type: X-Ray System, Metal Detectors, Explosive Detectors, Biometric System, Other Types
2) By Application: Mail And Parcel, Baggage Scanning, Cargo And Vehicle Inspection, Explosives And Narcotics
3) By End-User: Government Buildings, Airports, Educational Institutes, Public Places, Other End-Users
Major Driver - Rising Global Terrorism Is A Catalyst For Accelerated Growth In The Security Screening Market
The increasing terrorism is expected to propel the growth of the security screening market. Terrorist uses illegal force and violence to achieve a political, economic, religious, or social purpose through fear, compulsion, or intimidation. With these growing unlawful immigration and terrorist acts worldwide, the demand for security screening systems has risen. According to the Global Terrorism Index, there were 5,226 terrorist acts worldwide in March 2022. Few nations, including Afghanistan, Iraq, and Somalia, are more significantly impacted by terrorism. Therefore, increasing terrorism will drive the security screening market growth.
Competitive Landscape:
Major companies operating in the security screening market report are NEC Corporation, Thales Group, L3Harris Technologies Inc., Adani Systems Inc., Leidos Holdings Inc., Decision Sciences Corporation, Garrett Metal Detectors, Smiths Group plc, 3DX-Ray Ltd., OSI Systems Inc., Analogic Corporation, Nuctech Company Limited, Rapiscan Systems Ltd., Muon Systems, Optosecurity Inc., CEIA SpA, Morpho Detection Inc., Astrophysics Inc., Magal Security Systems Ltd., Metrasens Ltd., Kromek Group plc, Autoclear LLC, Gilardoni SpA, Westminster International Ltd., Passport Systems Inc., Scanna MSC Ltd., Teledyne ICM SA, RedXDefense LLC, Argus Global Pty Ltd., Lingacom Ltd., American Science and Engineering Inc., DetectaChem LLC, FLIR Systems Inc., Implant Sciences Corporation
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Top Trend - Innovative Advancements In Security Screening
Major companies operating in the security screening market are developing new products such as next-generation handheld radionuclide identification device to gain a competitive edge in the market. The handheld radionuclide identification device (RID) is an advanced, portable tool designed for the detection and identification of radioactive materials. For instance, in February 2021, FLIR Systems Inc. a US-based company specializing in the design and production of thermal imaging cameras, sensors, and related technologies launched the upgraded FLIR identiFINDER R440. This device has significantly increased sensitivity and resolution, enabling users to recognize and react to radioactive threats more quickly and accurately. This device can detect radioactive dangers more quickly and from a greater distance thanks to its new high-performance detectors and sophisticated algorithms. The R440 has improved resolution and can respond to radioactive hazards from a greater distance, behind sturdier shielding, and with options for NaIL, NaI, LaBr, and CLLBC detectors. The R440 also has a 360° EasyFinder mode and a bold, easy-to-read UI that speed up decision-making to protect staff and the public.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Security Screening Market Characteristics
3. Security Screening Market Trends And Strategies
4. Security Screening Market - Macro Economic Scenario
5. Security Screening Market Size And Growth
…..
27. Security Screening Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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