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According to the new research report published by The Insight Partners, titled “X-Ray Security Scanner Market– Global Analysis and Forecasts to 2027”, the global X-Ray Security Scanner market was valued at US$ 4,114.2 Mn in 2018 and is projected to reach US$ 7,282.8 Mn by 2027; it is expected to grow at a CAGR of 6.5% from 2019 to 2027.

Strategic Insights        

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Demand of X-ray security scanner in near future is mainly driven by growing air transport and constant geopolitical unrest across various geographical regions. Also, terrorism and criminal threats further boost the deployment of the device with variation by geography and end-user segment. Besides this, the mounting installed base further creates prospects for aftermarket and software upgrade returns. Companies operating in the market are focusing on expanding their footprints into emerging economies of the world. This is due to increasing infrastructural developments in these economies owing to increasing urban population. Also, stringent government regulations towards safety and security concern is propelling the growth of the market. High risk of terror attacks is another factor bolstering the market growth. The government of countries across the globe are concerned about their public safety and hence, mandating proper security checks at public places.

The X-Ray Security Scanner market has been segmented on the basis of product type into full body X-ray scanners and baggage scanners. Further, the baggage scanner segment is sub-segmented into handheld scanners, cabinet X-ray system, and cargo and vehicle inspection systems. Also, the market is categorized by end-user segment into air transport, land security, commercial malls and multiplexes, government and banks, postal items and others. Air transport is the largest segment by end-user, which accounts for more than half of the total market share of the X-ray security scanner market.

Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments.

The overall effect of the pandemic is impacting the production process of several industries. This report on ‘X-ray security scanner Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.

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Growing Air Passenger Traffic Resulting in Expansion of Airport Infrastructure

The global air travel industry is growing at a rapid pace. According to a report released by Boeing related to current market outlook of aviation industry (2017–2036), the number of air passengers grew at 6.2% Y-o-Y during the past five years. The factors such as high living standards coupled with rising middle class population, particularly in emerging markets have resulted in the increased growth. Also, growth in consumer spending related to tourism and travel in key economies has strengthened the demand for air travel. Owing to increasing air passenger traffic, there is a need to expand existing airport capacity and construction of new airport infrastructure worldwide. Thus, significant investments in airport infrastructure has been noticed during the past few years and is expected to continue over the next 20 years. Further, the report states that during 2017–2021, there will be an investment of about US$ 1 trillion in new and existing airports globally. Also, APAC will account for nearly 40% of that investment.

X-ray Security Scanner Market: Product Type

On the basis of product type, the global X-Ray Security Scanner market is segmented into conventional X-ray scanners, and CT scanners. X-ray security scanners are advanced screening equipment’s which involves the security of individuals at places such as airports, government applications, border checkpoints, railways, public places, stadiums, private sectors and others. There are several projects funded by CASRA that provides training related to X-ray scanners used at airports. Some of the projects include Osarp Training Study, 2D VS. 3D X-RAY Image Display Study, and ACXIS among others. With the aid of security scanner items such as explosive trace detectors, full-body X-ray scanners, electromagnetic metal detectors, biometric technology, communication technology etc., increase in illegal and unethical practices all over the world can be prohibited. X-ray safety scanning helps secure public spaces with regard to illegal activities and prevents economic, financial, among others.

X-ray Security Scanner Market: Competitive Landscape and Key Developments

Astrophysics, Inc., ADANI, Eurologix Security Group, L3 Security & Detection Systems, Nuctech Company Limited, OSI Systems, Inc., Gilardoni S.P.A., Kromek Group PLC, Smiths Detection Inc., and Teledyne ICM are among the key players in the global X-ray Security Scanner market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In 2019, OSI System’s security division received a contract worth US$14 Mn to provide cargo and vehicle inspection systems; baggage and parcel inspection systems and also offer maintenance and support services.

In 2017, L3 Technologies Inc. acquired ETD business of Implant Sciences Corporation, and added to its L3 Security & Detection Systems division, to boost their leadership in security solutions and improve their capabilities in national and aviation security markets.

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