Press release
Security Screening Market 2020 Business Opportunities, Current Trends, Challenges and Forecast 2025
The Global Security Screening Market Research Report Forecast 2020 – 2025 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 report also takes into account the impact of the novel COVID-19 pandemic on the Security Screening market and offers a clear assessment of the projected market fluctuations during the forecast period. The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehend Security Screening 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.
With the rising terror attack threats at various public and critical infrastructure, security screening plays very critical role, especially for the places such as railways, airports, border checkpoints, government organizations and private sectors, and many others to help reduce and mitigate the associated risk factor.
- Security screening enable the assurance from threat against unethical and unlawful practices and protecting financials and humans. Security screening using various technologies such as X-ray scanners, biometric matching, and metal detectors, that are getting very popular at the security checkpoints for expediting the process.
- The application of security screening has witnessed a positive shift toward a more technologically-advanced approach with the rising demand for enhanced security across the world. Many countries have increased spending on new security equipment and on upping their security measures across its various end-user sectors, further aided by the increasing global demand for homeland security worldwide, which is expected to grow significantly over the forecast period.
- The aviation industry is expected to hold the largest market share and is expected to continue its dominance over the forecast period, owing to the robust rise in the number of airports and consequent air passenger traffic. The threat of terrorist attacks and security standards set international authorities, including IATA, ICAO, and ACI are among the two most influential drivers sustaining the market studied.
(Avail a Up-to 20% discount on this report)
Click the link to get free a Sample Copy of the Report:
https://www.marketinsightsreports.com/reports/10192357872/security-screening-market-growth-trends-forecasts-2020-2025/inquiry?Mode=28
Top Key Players in the Global Security Screening Market are Leidos, IWILDT, Nuctech, Smiths Detection, Safeway, OSI Systems, Analogic, CEIA, GARRETT, Astrophysics, Suritel, Lornet, Adani, Security Centres International, Research Electronics International, Westminster and others.
Resent Development:
- 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.
- 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.
Regional Analysis:
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.
Avail on Discount:
https://www.marketinsightsreports.com/reports/10192357872/security-screening-market-growth-trends-forecasts-2020-2025/discount?Mode=28
Highlights of TOC:
Market Overview: It starts with product overview and scope of the Global Security Screening market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Security Screening market size analysis for the review period 2015-2025.
Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Security Screening market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.
Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.
Market Dynamics: Readers are provided with a comprehensive analysis of Security Screening market challenges, influence factors, drivers, opportunities, and trends.
Market Forecast: Here, the Security Screening report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.
Full Browse the report description and TOC:
https://www.marketinsightsreports.com/reports/10192357872/security-screening-market-growth-trends-forecasts-2020-2025?Mode=28
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Note: All the reports that we list have been tracking the impact of COVID-19 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.
We Also Offer Customization on report based on specific client Requirement:
– Free country Level analysis for any 5 countries of your choice.
– Free Competitive analysis of any 5 key market players.
– Free 40 analyst hours to cover any other data point
Contact Us:
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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.
With the rising terror attack threats at various public and critical infrastructure, security screening plays very critical role, especially for the places such as railways, airports, border checkpoints, government organizations and private sectors, and many others to help reduce and mitigate the associated risk factor.
- Security screening enable the assurance from threat against unethical and unlawful practices and protecting financials and humans. Security screening using various technologies such as X-ray scanners, biometric matching, and metal detectors, that are getting very popular at the security checkpoints for expediting the process.
- The application of security screening has witnessed a positive shift toward a more technologically-advanced approach with the rising demand for enhanced security across the world. Many countries have increased spending on new security equipment and on upping their security measures across its various end-user sectors, further aided by the increasing global demand for homeland security worldwide, which is expected to grow significantly over the forecast period.
- The aviation industry is expected to hold the largest market share and is expected to continue its dominance over the forecast period, owing to the robust rise in the number of airports and consequent air passenger traffic. The threat of terrorist attacks and security standards set international authorities, including IATA, ICAO, and ACI are among the two most influential drivers sustaining the market studied.
(Avail a Up-to 20% discount on this report)
Click the link to get free a Sample Copy of the Report:
https://www.marketinsightsreports.com/reports/10192357872/security-screening-market-growth-trends-forecasts-2020-2025/inquiry?Mode=28
Top Key Players in the Global Security Screening Market are Leidos, IWILDT, Nuctech, Smiths Detection, Safeway, OSI Systems, Analogic, CEIA, GARRETT, Astrophysics, Suritel, Lornet, Adani, Security Centres International, Research Electronics International, Westminster and others.
Resent Development:
- 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.
- 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.
Regional Analysis:
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.
Avail on Discount:
https://www.marketinsightsreports.com/reports/10192357872/security-screening-market-growth-trends-forecasts-2020-2025/discount?Mode=28
Highlights of TOC:
Market Overview: It starts with product overview and scope of the Global Security Screening market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Security Screening market size analysis for the review period 2015-2025.
Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Security Screening market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.
Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.
Market Dynamics: Readers are provided with a comprehensive analysis of Security Screening market challenges, influence factors, drivers, opportunities, and trends.
Market Forecast: Here, the Security Screening report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.
Full Browse the report description and TOC:
https://www.marketinsightsreports.com/reports/10192357872/security-screening-market-growth-trends-forecasts-2020-2025?Mode=28
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Note: All the reports that we list have been tracking the impact of COVID-19 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.
We Also Offer Customization on report based on specific client Requirement:
– Free country Level analysis for any 5 countries of your choice.
– Free Competitive analysis of any 5 key market players.
– Free 40 analyst hours to cover any other data point
Contact Us:
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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