The global security screening market is anticipated to grow at a considerable CAGR of 9.1% during the forecast period. One of the core factors that is fueling the market is the increasing terrorist activities across the globe. Terrorist activities have increased in the past few years which has propelled the demand for security screening in the most precious, and populated locations to restrict such activities. In recent years, there have been multiple terrorist groups such as ISIS, the Taliban, and others that have been threatening the globe in which such devices can restrict the easy flow of explosives from one place to another.
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Impact of COVID-19 Pandemic on Global Security Screening Market
The COVID-19 pandemic had impacted the travel and tourism sectors across the globe owing to travel restrictions and border closures that restricted traveling inside and outside of the country. This has minimalized the use of security screening and declined the demand of the market. As per the US Travel Association, COVID-19 had impacted harshly in the US, with the total economic output at $1.5 trillion in 2020, a sharp decline from $2.6 trillion in 2019. However, rising vaccination has improved the situation across the globe as the traveling restrictions have been mild up. This has boosted the re-opening of travel and tourism sectors; however, these sectors are still not expected to grow at their pre-pandemic levels any time soon due to uncertainty about the situation.
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Segmental Outlook
The global security screening market is segmented based on technology, application, and end-user. Based on the technology, the market is segmented into X-ray, metal detection, biometrics, spectrometry, and spectroscopy. Based on the application, the market is sub-segmented into people and products. Based on the end-user, the market is sub-segmented into the airport, ports and borders, defense, and others. The other end-users are government buildings and hotels. The above-mentioned segments can be customized as per the requirements. Based on end-user, the airport segment is anticipated to grow significantly in the market while based on technology, biometrics expected to hold the prominent share during the forecast period.
The Asia-Pacific Region Anticipated to Grow Fastest in the Global Security Screening Market
The Asia-Pacific region is projected to grow at the fastest rate in the market during the forecast period owing to the presence of emerging countries such as China, India, Japan, South Korea, and others. These emerging countries are highly populated causing the highest population across the globe, which has also increased the security threats in the region. With the increasing economy, such factors have increased the demand for security screening in the region which is projected to grow fastest. Moreover, the increasing construction of airports across the region has increased the demand for security screening as well. For instance, in 2020, China constructed almost 241 civil airports 2020. As per the data from the Civil Aviation Administration of China (CAAC), China aimed for constructing 400 private airports by the end of 2035. Moreover, in February 2021, the Indian Ministry announced the addition and renovation of 100 new airports by 2024.
by Technology (X-Ray, Metal Detection, Biometric, Spectrometry, and Spectroscopy),
by Application (People, and product), and
by End-User (Airport, Ports and Borders, Defense, and Others) Forecast Period
Market Players Outlook
The major companies serving the global security screening market include 3DX-RAY, Analogic Corp., L3Harris Technologies, Inc., OSI Systems, Inc., Smiths Detection Group Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2021, CEIA SpA and Heathrow Airport partnered to advance security screening checkpoints by offering SAMDEX (the UK-DfT-approved explosive detector and shoe metal) and the 02PN20 walk?through metal detector.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global security screening market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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