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Security Screening Market Trends, Share, Size, Forecast To 2033
Security Screening Market Trends
As per the report, 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 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%.
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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.
Next-Generation Technologies Transforming The Security Screening Landscape
Technological advancements have emerged as the key trend in the security screening market. Major companies operating in the security screening market are focused on providing technologically advanced solutions to strengthen their market position. These companies are implementing next-generation security screening technologies into their product and services, such as CT scanners, under-vehicle inspection technologies (UVIS), automated screening lanes, facial recognition, millimeter-wave technology, and others to safeguard and prevent prohibited items and other threats to security. For instance, in November 2021, Smith Detection, a threat detection and security screening company, collaborated with Microsoft and Heathrow to build an artificial intelligence technology to detect wildlife trafficking. In the initial testing phase, this technique will be used with their existing screening and security infrastructure to combat illegal wildlife trafficking with AI-powered technology.
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
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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
Contents of the report:
1. Executive Summary
2. Security Screening Market Report Structure
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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