The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The X-ray Security Scanner Market was valued at USD 2.73?billion in 2019?and is expected to reach USD 4.07?billion by 2025, at a CAGR of 6.88% over the forecast period 2020?- 2025. Technological advancements such as the use of improved image resolution, color based indication for material distinction, speeded scanning, eased startup and operating setup has boosted the adoption of x-ray security scanners. x-ray security scanners have proved to be relatively cost-effective to other traditional security scanning approaches which have translated into the high success for the technology.
- The rising terror attacks worldwide are also driving the X-ray security market. For instance, 26,445 terrorist attacks took place worldwide in 2017 according to data in our world. Critical infrastructure around the world are among the primary targets for the terror attacks and therefore must be protected from internal and external threats. Various governments initiatives to stop terrorist attacks is expected to drive the market.
- The goods trade is expected to continue to grow and is expected to further drive the demand growth for the x-ray security scanners in the market As trade goods are the most used medium to illegally transfer goods across borders.
- According to World Trade Organization, World Trade Statistical Review 2018 report, WTO members’ merchandise exports totaled USD 17.43 trillion, which accounted for 98% of world merchandise trade in 2017 and over 70% of merchandise exports were manufactured goods. Additionally, In 2017, merchandise trade grew by 4.7% in volume terms and experienced continued growth for the past two years.
- X-rays are among the most widely used technology for scanning vehicles, ranging from vans and trucks to railcars. In the field of vehicle scanning, the market incumbents are increasingly focusing on providing customized solutions to clients depending on their specific needs, in a bid to consolidate their presence in the market.
- However, Health Concerns Regarding Hazards of Using High-Frequency Scanners may hinder the growth of the market.
Scope of the Report
X-ray body scanners and x-ray baggage scanners help keep your passengers, assets, and facility safety. Weapons, explosives, and narcotics are just some of the contraband security personnel have to deal with. in a Public place. An x-ray scanner identifies harmful organic, inorganic and metal materials.
Key Market Trends
Aviation & Transportation Has the Largest Share in the Market
- X-ray security scanners have been a highly implemented solution in the industry for scanning baggage (small and large), people, air cargo, parcels among others to identify and find any hidden threating item or detect for smuggling of any banned items.
- According to the International Air Transport Association (IATA) Air Transport Statistics report 2017, airlines connected a record number of cities worldwide and provided regular services to over 20,000 city pairs in 2017.
- It also carried over 4.1 billion passengers on scheduled services, an increase of 7.3% over the previous year. It indicates the vast number of people and the luggage that goes through a security check. X-ray security scanner helps it to move on time and is, therefore, a preferred for security.
- Moreover, China plans to construct 216 new airports by 2035 to reach a mark of 450 airports in total that are accessible for its citizens according to the Civil Aviation Administration of China (CAAC).
- Also, Istanbul’s plans to build the worlds biggest airport by 2025 which is aiming to host 100 million in the next ten years according to General Directorate of State Airports Authority, Turkey.
- As the number of airports and transportation hub increase globally any failures to detect threats in subway or railroad systems, and other mass transit system can result in costly repairs, delays in operation and timely functioning, disgruntled passengers and staff, mishandled baggage, lost lives and significant losses in revenue. Hence, the x-ray security scanner market is said to grow exponentially over the forecast period.
Asia-Pacific to Witness a Huge Demand
- The Asia-Pacific is expected to witness the fastest growth during the forecast period due to continued investment in upgrading the transport infrastructure in the urban areas globally and has seen increased metro, rail, monorail projects being undertaken to distribute the burden on the urban infrastructure.
- Massive investment in Metrorail and airport projects in India, China, and other countries make it essential to safeguard them and has pushed for the increased adoption and use of these security scanners in the transportation segment.
- According to Indian Infrastructure, India will have rupees 1100 billion investments in urban rail transportation segment in the 2018-2019 year.
- Moreover, the region is also home to one of the most victimized countries for terror attacks. Countries such as Pakistan, Afghanistan, India, Bangladesh, and Sri Lanka, etc are under continuous threat for terror attacks. For example, Srilanka blast which had more than 300 casualties in 2019. India had around 9 terror attacks from 2017 to 2019 till date.
- As the region infrastructure is in a phase of rapid urbanization the need for the adoption of x-ray security scanner market is high which is expected to drive the market in the region.
The x-ray security scanner market is highly concentrated market due to the presence of a few players in the market that have majority market share. Some Key players in the market include L3 Security and Detection Systems, Inc., Westminster International Limited, Rapiscan Systems Inc. among others. Some key recent developments in the market include:
- Jan 2019 - Rapiscan Systems launched its new, high-performance ORION series product line. Three new checkpoint screening solutions, the 918CX, 920CX, and 922CX, are available immediately with additional models planned for the future. This product launch serves as the first of many new offerings from Rapiscan Systems, which will leverage innovations in imaging such as detectors and generators and deep learning algorithms.
- Jan 2019 - OSI Systems, security division received an order for approximately USD 11 million to provide multiple units of its RTT 110 (Real Time Tomography) explosive detection systems that will be installed at a European airport.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support