X-Ray Security Screening System Market size worth USD 3.4 billion by 2023: Global Market Insights
Flexible security system installation and expansion for countering terror threats is also forecast to propel growth. The presence of an attractive civil aviation landscape across the Asia Pacific, Russia and Middle East industries offers avenues for x-ray security screening system market size. Increasing attention to terrorist and other security threats such as drug trade, trafficking, etc., has significantly driven the x-ray security screening system market share. The industry will observe significant growth over the forecast period owing to rise in screening of goods entering ports and borders. Airport operators emphasize on deploying screening systems that provide easy and quick screening, and eliminating any lag or backlog. This has led to the development of automated processes offering smooth screening procedures and improved networking capabilities.
Commercial sector accounted for over 17.5% of the total x-ray security screening system market share in 2015; it is projected to grow at 5.2% CAGR from 2016 to 2023. These application areas mainly utilize metal detectors or gamma ray for security screening and is expected to witness low adoption rate. Cargo sector is projected to exhibit high growth owing to new regulations in the Europe and the U.S. Further, upgrade of existing systems and installations also provide avenues for industry growth. The federal government has taken initiatives to increase security measures at some international airports with direct flights to the U.S. owing to terror threats. Health concerns and presence of substitutes may hamper x-ray security screening systems market size over the next seven years.
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