Global X-Ray Security Screening System Market share to grow at 5.7% CAGR from 2016 – 2023: Fractovia.org The alarming rise in global terrorism will fuel the X-Ray Security Screening market over the period of 2016 to 2023. The growing awareness about terrorist activities and security threats such as the smuggling of drugs and weapons will increase the adoptions of the x-ray security screening systems worldwide. The battery-powered Xray tubes and digital detectors have the capability to capture the minutest things, by giving high image resolution, which will in turn boost the industry demand over the coming years. According to Global Market Insights, Inc., “Global X-ray security screening system market share is projected to exhibit an annual growth rate of 5.7% over the coming six years.”
X-ray security screening system end-users comprise transit industry, government, and commercial sector. The government sector contributed majorly towards the total market share accounting for 45% in 2015. As per the study, the government application is predicted to record an annual growth rate of 5.7% over the coming six years, owing to its escalating demand for incorporation of the advanced detection system in customs, prisons, and law enforcement. Commercial sector is estimated to drive x-ray security screening market with a CAGR of 5.2% over the coming six years. The transit sector worth USD 780 million in 2015 and is anticipated to register a CAGR of 5.9% over the period of 2016-2023, driven by its growing need to scan passengers and baggage thereby, avoiding smuggling of explosive, drugs, and weapons. The escalating commercial sectors, such as shopping malls, hotels, institutes, and corporate offices will also increase the demand for metal and gamma ray detector, which, in turn, will drive the X-ray security screening system industry size. Product screening application will boost the growth of x-ray security screening industry. People and product screening are the two most lucrative applications of the x-ray security screening system market. Product screening is expected to dominate the application landscape by registering an annual growth rate of 5.8% over the coming six years. The growth can be attributed to its growing requirement across government and aviation sectors for the applications such as mail screening, baggage, cargo, and parcel. Product screening x-ray security screening system application worth USD 600 1|Page