Market Research Report
North America Security Screening Market to 2027 - Regional Analysis and Forecasts by Product ; Application
|Published by||The Insight Partners||Product code||910964|
|Published||Content info||149 Pages
Delivery time: 1-2 business days
|North America Security Screening Market to 2027 - Regional Analysis and Forecasts by Product ; Application|
|Published: August 30, 2019||Content info: 149 Pages||
The North America security screening market accounted for US$ 2.31 Bn in 2018 and is expected to grow at a CAGR of 5.9% over the forecast period 2019-2027, to account for US$ 4.01 Bn in 2027. The prospering e-commerce sector propelling domestic and international trade, and loss of human life owing to persistent attacks are the major factors boosting the security screening market growth. Moreover, the increase in investments in the development of the infrastructural sector is expected to boost the security screening market. Furthermore, significant R&D on emerging technologies is anticipated to be the leading trend in the security screening market. The present innovations in checkpoint security are supplementing the growth of the overall market. The baggage screening is implemented in a multiplexed and remote manner, while the aid of the conveying system in organizing the flow. Further, ongoing enhancements of the security scanners are being deployed. The recent US ban on laptops as carry-on baggage has created an alarming situation regarding the use of the device as an explosive or bomb. Such bans create inconvenience to passengers. Thus, companies are researching to come up with advanced technologies that enable effective screening. One such technology is Ultrabright microfocus X-ray, which is an efficient substitute to conventional X-ray tubes. Microfocus X-ray, when used with CT scanners, offers a solution that can produce higher-resolution 3D images.
The security screening market is fragmented in nature due to the presence of several industries, and the competitive dynamics in the market is anticipated to change during the coming years. In addition to this, various initiatives are undertaken by governmental bodies to accelerate the security screening market further. For instance, the US Custom and Border Protection scan all the containers during their entrance in the US by using sea or land to detect radiation. The agency also recognizes around 5% of all arriving seaborne containers as high risk, and it scrutinizes those containers with X-ray or gamma-ray imaging systems. In the last decade, the US government had mandated the use of both imaging systems and radiation detectors to scan incoming seaborne containers. The law gave Department of Security (DHS) a deadline till 2012 to completely implement the system. However, the deadline has been extended three times, and now the law has given a deadline till 2018. In addition, DHS provides grants to universities for conducting research related to security screening technologies. For instance, DHS provided funds to the Nottingham Trent University for evaluating 3D X-ray imaging research.
The North America security screening market by application is dominated by the airport segment in the year 2018 and is anticipated to continue its dominance showcasing a substantial growth rate in the forecast period, followed by government and public place segments. Security screening helps in acquiring real-time information of an individual, baggage, cargo, and vehicle when passes or comes in contact with screening equipment. By installing equipment, the country improves the security of the concerned place and saves time. Henceforth, security screening is receiving much traction for the security purpose among several applications. The terrorists might take advantage of commercial spaces or ports such as seaport which lags in having high-end security and can conduct any illegal and life-threatening activity. Possible threats include smuggling of weapons or drugs conventional explosive device, radiological bomb, or movement of terrorist operatives. Thus, emphasizing on the need for installation of necessary security detection systems is rising substantially to avert contraband of prohibited objects.
The overall security screening market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the security screening market. It also provides an overview and forecast for the security screening market based on all the segmentation provided with respect to the North American region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the security screening market. Some of the players present in security screening market are Aware, Inc., Anviz Global, Analogic Corporation, Iris ID Inc., L3 Security & Detection Systems, Magal Security Systems Ltd, Nuctech Company Limited, OSI Systems, Inc., Smiths Detection Inc., and Teledyne ICM (Teledyne Technologies Incorporated) among others.