The security screening market is estimated to be worth USD 7.5 billion in 2021 and is projected to reach USD 10.1 billion by 2026, at a CAGR of 6.3 %. The global increase in terrorist attacks and illegal immigration, public gatherings fuel demand for security enhancement solutions and surge in demand for biometrics solutions in the private sector are some of the prominent factors for the growth of the security screening market globally.
The market for electromagnetic metal detection technology could grow at the highest CAGR during the forecast period
Metal detectors are used at public places such as shopping malls where public safety is necessary. The increasing deployment of metal detectors in public and private sectors is expected to drive the growth of the electromagnetic metal detectors segment during the forecast period. Due to the increase in criminal activities, metal detectors with high operational and functional performance are required for inspecting people. Metal detectors with varying capabilities are available to serve the specific requirements of different end users
The market for transportation end use is estimated to account for the largest share during the forecast period in the security screening market
The global rise in terrorism is the major driving factor for the security screening market. Security screening products such as metal detectors, X-ray screening systems, and biometric systems are installed on a large scale at airports, railway stations, and several other transit points. These products provide complete scanning of passengers and their belongings and help avoid illegal activities.
The security screening market in the APAC is expected to witness robust growth during 2021-2026
The market growth in APAC will mainly be driven to combat the increasing instances of terrorism, smuggling, and other unlawful activities. APAC also hosts a lot of public events, due to which the need for security screening products is expected to increase in the region. The security screening market in Europe and RoW will grow slower as compared with North America and APAC due to less stringent government regulations.
The breakup of primaries conducted during the study is depicted below:
- By Company Type: Tier 1 – 55 %, Tier 2 – 25%, and Tier 3 –20%
- By Designation: Directors– 50%, Managers – 30%, and Others – 20%
- By Region: Americas– 40%, Europe – 35%, APAC – 20%, and RoW – 5%
The major players in the security screening market are Smiths Detection (UK), OSI Systems (US), Leidos (US), Thales (France), NEC (Japan), FLIR Systems (US), Teledyne ICM (US), Bruker (US), Analogic Corporation (US), and ADANI Systems (US).
The report segments the security screening market and forecasts its size, by volume and value, based on region (North America, Europe, Asia Pacific, and RoW), technology (X-ray screening, electromagnetic metal detection, biometric, spectrometry & spectroscopy, others), application (people screening, baggage and cargo screening, vehicle inspection), and end use (transportation, government, retail stores and malls, hospitality, educational institutes, industrial, commercial, events and sports)
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the security screening market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying This Report
- This report includes the market statistics pertaining to technology, application, end use, and region
- An in-depth value chain analysis has been done to provide deep insight into the security screening market.
- Major market drivers, restraints, challenges, and opportunities have been detailed in this report.
- The report includes an in-depth analysis and ranking of key players.