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Transit Segment in X-Ray Security Screening System Market is Estimated to Witness Highest Growth by 2024

Author : Ronak Bora | Published Date : 2019-05-08 

Segmentation of the x-ray security screening system market by end-use indicates that the transit industry sub-segment will have the highest growth. These systems aid in identifying potential threats coming from the evaluation of suspicious packages, vehicle scanning, suspect scanning, custom searches through wall scanning to reduce disruption in the public.

Increasing occurrences of terroristic activities across the world and government initiatives to modernize airport security systems is aiding to the large-scale adoption of the x-ray security screening system market. The occurrences of airport bombing attacks and aircraft hijackings such as the March 2017 Orly Airport attack in Paris and the attempted attack on Malaysia Airlines are inducing a high rate of panic amongst the general population. Additionally, these attacks cause damages to the infrastructure leading to major financial losses being incurred by the government.

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A high movement of illegal contraband such as drugs, radioactive materials, and weaponry across country borders is further propelling the x-ray security screening system market. The International Atomic Energy Agency (IAEA) reported nearly 2,500 incidents of trafficking of radioactive materials from 1995-2015. In light of such instances, governments of various economies are intensifying their security protocols and deploying advanced technologies in high-stress locations such as airports, transit locations, malls, and other public locations.

There is a substantial increase in airport construction and modernization activities which is further propelling x-ray security screening system market demand. For instance, in September 2017, the Pittsburgh International Airport (PIT) and its managing Allegheny County Airport Authority (ACAA) announced that they had initiated a USD 1.1 billion terminal modernization plan. The plan places a high focus on improving the efficiency of the security screening process by installing new technologies that can detect the presence of contraband in luggage and on travelers and aims to replace traditional security processes.

The product screening application segment of the x-ray security screening system market holds the largest market share as they are used for the detection of illegal weapons, explosives, contraband, toxic materials and narcotics to safeguard people against any kinds of potential threats. The equipment is highly beneficial in cases where packages that cannot be unpacked for checking.

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One of the impelling factor behind Asia Pacific being a new investment hub for X-ray security screening system market players is its robustly expanding aviation industry. Amidst the backdrop of a growing middle & upper middle-class population in key emerging economies and the momentous growth of intercontinental hubs in APAC, the regional air transport market is continuously expanding its nucleus. According to reliable reports of November 2017, the passenger traffic at Asia Pacific airports grew by 11% than that recorded in the previous year.

Rapid industrialization & urbanization trends in countries such as China, India, Indonesia, and Korea, have drastically fueled passenger travels in both the domestic and international sector, consequently leading to Asia Pacific evolving as a rather profitable ground for X-ray security screening system market growth. It is imperative to mention that the anticipated growth in global airport security industry, which has a target CAGR of 7% over 2017-2024 will remarkably impact the revenue graph of X-ray security screening system market in the coming years.

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X-ray security screening system market players Adani Systems Inc., MinXray, Inc., L-3 Communications Security & Detection Systems, Kapri Corp, Smiths Detection, OSI Systems, Inc., Astrophysics Inc., Autoclear LLC, Scanna MSC, and Vanderlande. Companies undertake strategies such as mergers, acquisitions, and product launches to sustain growth in the x-ray security screening system industry.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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