X-Ray Security Screening System Market size worth USD.4 billion by 2023

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X-Ray Security Screening System Market size worth
USD.4 billion by 2023 Global Market Insights, Inc
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from X-Ray Security Screening
System Market

• Transit industry accounted for over 35 of the
  x-ray security screening system market share in
  2015 it is forecast to witness robust growth in
  the coming years. Passengers are subjected to
  comprehensive checks at railway stations and
  airports in light of increased security risk.
• Demand across people screening was valued at
  over USD 600 million in 2015, with 5.5 CAGR
  estimations during the forecast timeline. Risks
  associated with exposure to x-ray radiations have
  resulted in lower growth expectations as compared
  to the global average.  Product screening growth
  can be credited to growing adoption across the
  aviation sector to screen baggage or cargo.
•  Asia Pacific x-ray security screening system
  market size is set to witness high growth. This
  can be primarily attributed to increasing demand
  across the Chinese civil aviation and railway
  sectors. 

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Continued...

• The U.S. accounted for more than 80 of the North
  American industry in 2015. Homeland Security has
  invested in the U.S. border and custom security,
  which is estimated to favorably impact the
  industry demand over the next few years.
• The global industry is moderately consolidated in
  nature with a few key players accounting for more
  than 55 of the overall industry share in 2015.
  Major industry players include OSI Systems
  (Rapiscan), Smiths Detection, American Science
  and Engineering, Analogic Corporation and Morpho
  Detection. Competitors focus on RD investments
  and innovation as a part of their growth
  strategy. 

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U.S. x-ray security screening market size, by
application, 2012-2023 (USD Million)

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360 Analysis

• Application Analysis
• X-ray security screening system market share for
  product scanning is forecast to remain the
  largest and most attractive segment, with revenue
  set to cross USD 2.4 billion by 2023. This may be
  attributed to increasing demand across the
  aviation as well as government sector for
  baggage, cargo, mail or parcel screening
  applications.
• Regional Analysis
• Germany and the UK are responsible for Europe
  x-ray security screening market growth. The
  region in forecast to surpass USD 900 million by
  2023, with CAGR projected to outpace the global
  average over the forecast timeframe. Regional
  growth opportunities include increased demand for
  technologically advanced products as well as
  considerable number of early adopters. 
• Competitive Market Share
• Major companies accounting for x-ray security
  screening market share are Smiths Detection, OSI
  Systems, Morpho Detection, Analogic Corporation,
  etc. Mergers and acquisitions along with vertical
  integration are the major strategic initiatives
  undertaken by industry leaders.

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