Security Screening Market Growth Trajectory Through 2024-2033

The Security Screening Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Security Screening Global Market Report 2024, The security screening market size has grown strongly in recent years. It will grow from $9.94 billion in 2023 to $10.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increased threats and security concerns, rising air travel and transportation security needs, global events and terrorism, public awareness and expectations.

The security screening market size is expected to see strong growth in the next few years. It will grow to $14.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to contactless screening solutions, enhanced threat detection algorithms, focus on privacy and data security, customs and border security application. Major trends in the forecast period include integration with biometric technologies, technological integration in critical infrastructure protection, advancements in detection technologies, multi-modal biometric screening, remote screening and monitoring.

The increasing terrorism is expected to propel the growth of the security screening market. Terrorist uses illegal force and violence to achieve a political, economic, religious, or social purpose through fear, compulsion, or intimidation. With these growing unlawful immigration and terrorist acts worldwide, the demand for security screening systems has risen. According to the Global Terrorism Index, there were 5,226 terrorist acts worldwide in March 2022. Few nations, including Afghanistan, Iraq, and Somalia, are more significantly impacted by terrorism. Therefore, increasing terrorism will drive the security screening market growth.

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The security screening market covered in this report is segmented –

1) By Type: X-Ray System, Metal Detectors, Explosive Detectors, Biometric System, Other Types
2) By Application: Mail And Parcel, Baggage Scanning, Cargo And Vehicle Inspection, Explosives And Narcotics
3) By End-User: Government Buildings, Airports, Educational Institutes, Public Places, Other End-Users

Major companies operating in the security screening market are developing new products such as next-generation handheld radionuclide identification device to gain a competitive edge in the market. The handheld radionuclide identification device (RID) is an advanced, portable tool designed for the detection and identification of radioactive materials. For instance, in February 2021, FLIR Systems Inc. a US-based company specializing in the design and production of thermal imaging cameras, sensors, and related technologies launched the upgraded FLIR identiFINDER R440. This device has significantly increased sensitivity and resolution, enabling users to recognize and react to radioactive threats more quickly and accurately. This device can detect radioactive dangers more quickly and from a greater distance thanks to its new high-performance detectors and sophisticated algorithms. The R440 has improved resolution and can respond to radioactive hazards from a greater distance, behind sturdier shielding, and with options for NaIL, NaI, LaBr, and CLLBC detectors. The R440 also has a 360° EasyFinder mode and a bold, easy-to-read UI that speed up decision-making to protect staff and the public.

The security screening market report table of contents includes:

1. Executive Summary
2.Security Screening Market Characteristics
3.Security Screening Market Trends And Strategies
4. Security Screening Market analysis
5.Security Screening Market Size And Growth
6.Security Screening Segmentation
7.Security Screening Regional And Country Analysis
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27.Security Screening Competitive Landscape And Company Profiles
28.Security Screening Key Mergers And Acquisitions
29.Security Screening Future Outlook and Potential Analysis

TOP MAJOR PLAYERS:

• NEC Corporation
• Thales Group
• L3Harris Technologies Inc.
• Adani Systems Inc.
• Leidos Holdings Inc.
• Decision Sciences Corporation

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