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Airport Cabin Baggage Scanner Market Insights, Size, Demand, share 2024-2033
Airport Cabin Baggage Scanner Market Insights
According to The Business Research Company's, The airport cabin baggage scanner market size has grown strongly in recent years. It will grow from $2.8 billion in 2023 to $3.02 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to terror threats and security concerns, integration of automated features, industry standards and innovations, adoption of ct scanning, investment in research and development..
The airport cabin baggage scanner market size is expected to see strong growth in the next few years. It will grow to $3.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to demand for enhanced security, integration with ai and machine learning, increased air travel, remote screening solutions, sustainability initiatives.. Major trends in the forecast period include enhanced imaging technology, automation and ai integration, regulatory compliance, efficiency and throughput, adaptability and flexibility..
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Market Drivers and Trends:
The rising air traffic is expected to propel the growth of the airport cabin baggage scanner market going forward. Air traffic refers to the systematic passage of airplanes through space or an area. There is a rise in air traffic due to the demographic and economic growth of the world population, which in turn increases demand for airport cabin baggage scanners. At the airport, cabin baggage scanners are intended to reveal items concealed behind clothing or bags and are used for detecting both metallic and non-metallic things, such as food, plastics, and weapons. For instance, according to the International Air Transport Association, a Canada-based trade association of the world's airlines, the global air traffic in November 2022 rose to 41.3% compared to November 2021. Therefore, rising air traffic is driving the demand for the airport cabin baggage scanners market.
Technological advancement is a key trend gaining popularity in the airport cabin baggage scanner market. Companies operating in the airport cabin baggage scanner market are developing technological advanced solutions to strengthen their position in the market. For instance, in June 2022, Thales Group, a France-based company that designs, develops, and manufactures electrical systems for various sectors launched Helixview, a revolutionary and innovative airport baggage scanner. This product combines X-ray nanotechnology-based electronic scanning and 3D imaging reconstruction to bring higher security to airports and allows passengers to travel seamlessly without removing items from their luggage.
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Major Key Players of the Market:
Kremoint Pharma Pvt. Ltd.; Vega Pharma Ltd.; Jiangxi Bolai Pharmacy Co. Ltd.; Xian Wison Biological Technology Co. Ltd.; Hangzhou Uniwise International Co. Ltd.; HuvePharma; Yi Chang Veterinary Medicine Factory; Medson Pharmaceuticals; Medico Remedies Pvt. Ltd.; Cipla Limited; Pfizer Inc.; AbbVie Inc.; Teva Pharmaceutical Industries Ltd.; Zoetis Inc.; Taiwan Fructose; Novartis AG; Johnson & Johnson Inc.; Bristol Myers Squibb Company; Sandoz International GmbH; Sun Pharmaceutical Industries Ltd.; Zydus Lifesciences Ltd.; Lupin Limited; Aurobindo Pharma Limited; Fresenius Kabi AG; Aspen Pharmacare Holdings Limited; Mylan N.V.; Sanofi S.A.; Merck & Co. Inc.; GlaxoSmithKline plc; Eli Lilly and Company
Airport Cabin Baggage Scanner Market 2024 Key Insights:
• The airport cabin baggage scanner market will grow to $3.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
• Surge In Air Traffic Fuels Demand For Airport Cabin Baggage Scanners
• Airport Cabin Baggage Scanner Market Driven By Technological Advancements
• Asia-Pacific was the largest region in the airport cabin baggage scanner market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide."
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