Security Screening Systems Market Revenues to Reach USD 9.81 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, July 25, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Security Screening Systems Market Report (2023-2028),” the market is estimated at USD 7.14 billion in 2023. It is expected to register a CAGR of 6.57% during the forecast period.

With the threat of terror attacks on public and critical infrastructure on the rise, security screening has become ever more important in various sectors, such as airports, border checkpoints, and government organizations. Many countries have increased their expenditure on new security equipment, which has driven the demand for advanced security screening systems. Automated security scanning solutions are being adopted by governments internationally to detect narcotics, drugs, explosives, and other banned substances.

Report Summary:

Who are the Top Companies in the Security Screening Systems Market?

The global security screening systems market is highly fragmented, with cumulative competition among market players due to the strengthening demand for safety and security in various domains, markedly in aerospace.

The noteworthy players holding the global security screening systems market are:

• Smiths Detection Inc.
• Leidos Holdings Inc.
• OSI Systems Inc.
• 3DX-Ray Ltd
• Teledyne ICM SA
• Analogic Corporation
• Nuctech Company Limited
• Astrophysics Inc.
• CEIA SpA
• Gilardoni SpA
• Muon Systems
• Decision Sciences
• Passport Systems Inc.
• Lingacom Ltd

Other Reports That Might Be of Your Interest:

• North America Urban Security Screening Market Report  - The North American urban security screening market size is estimated at USD 2.08 billion in 2023 and is expected to reach USD 2.64 billion by 2028, at a CAGR of 4.87% during the forecast period (2023-2028).
• Smart Home Security Market Report   - The smart home security market size is estimated at USD 28.52 billion in 2023 and is expected to reach USD 54.45 billion by 2028 at a CAGR of 13.81% during the forecast period (2023-2028).

Key Highlights from the Security Screening Systems Market Report:

  Developing Usage in the Airport Segment

• Airport security incorporates numerous policies and practices exercised to safeguard passengers, airport personnel, aircraft, and airport property from criminal activity, terrorism, and other threats. This involves the use of screening devices at several levels by airport authorities, as well as air cargo screening.
• Airports have several screening checkpoints positioned throughout their buildings to screen cargo and baggage and prevent unauthorized items from entering. These checkpoints characteristically involve screening for cabin baggage, hold baggage, cargo, and non-passengers.

   APAC Region Anticipated to Dominate the Market

• The narcotics trade is a crucial concern in the region, and China plays a vital role as a major contributor. It has witnessed an expanding trend of drug trafficking, mainly from overseas, which poses a potential threat to public health. Nevertheless, China's position as a central player in 5G deployment and development is estimated to drive the demand for security screening as critical infrastructure expands during the forecast period.
• Rapid urbanization, population growth, and industrialization in India have led to the implementation of enhanced safety and security measures in critical national infrastructure sectors.

What are the Latest Developments in the Security Screening Systems Market?  

• In March 2023, OSI Systems Inc.'s Security category announced receiving an order worth approximately USD 20 million from ANA Aeroportos de Portugal for multiple units of its RTT 110 (Real Time Tomography) explosive detection system.
• In February 2023, Smiths Detection Inc. awarded a contract to supply New Zealand's Aviation Security Service (AvSec) with advanced checkpoint security technology for its 5 major international airports in Christchurch, Queenstown, Dunedin, Wellington, and Auckland.

Mordor Intelligence has Segmented the Security Screening Systems Market Based on Detection Technology, Application, End-user, and Geography:

• By Detection Technology
  • X-ray
  • CT-based
  • Neutron Sensing and Detection
  • Other Detection Technologies
• By Application
  • Mail and Parcel
  • Baggage Scanning
  • Cargo and Vehicle Inspection
  • Explosives and Narcotics
• By End-user
  • Airports
  • Ports and Borders
  • Defense
  • Critical Infrastructure
  • Commercial
  • Law Enforcement and Transportation
• By Geography
  • North America  
    • United States  
    • Canada  
  • Europe  
    • United Kingdom  
    • Germany  
    • France   
    • Rest of Europe  
  • Asia-Pacific  
    • China  
    • India  
    • Japan   
    • Rest of Asia-Pacific  
  • Rest of the World

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Security Screening Systems Market Report (2023-2029).

Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:

• Security Orchestration Market Report  - The security orchestration market size is estimated at USD 6.18 billion in 2023 and is expected to reach USD 6.81 billion by 2028 at a CAGR of 1.97% during the forecast period (2023-2028).
• Home Security System Market Report  – The home security system market size is estimated at USD 60.51 billion in 2023 and is expected to reach USD 92.76 billion by 2028 at a CAGR of 8.92% during the forecast period (2023-2028).
• Application Security Market Report - The application security market size is expected to grow from USD 9.90 billion in 2023 to USD 22.08 billion by 2028 at a CAGR of 17.39% during the forecast period (2023-2028).

About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.

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• Security Screening Systems Market - Mordor Intelligence