X-Ray Security Screening System Market to grow at 5.7% CAGR from 2016–2023 - PowerPoint PPT Presentation

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X-Ray Security Screening System Market to grow at 5.7% CAGR from 2016–2023

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View More @ Rising security concerns related to consecutive threat and activities such as illegal arms shipping and drug trafficking is a major factor driving the X-Ray Security Screening System Market size. Compliance with security measures and government regulations to improve the security infrastructure would further attribute to increasing industry demand. – PowerPoint PPT presentation

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Title: X-Ray Security Screening System Market to grow at 5.7% CAGR from 2016–2023


1
Global X-Ray Security Screening System Market to
exceed 3bn by 2023 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
2
Key Insights of X-Ray Security Screening System
Market
  • X-ray security screening system market size was
    over USD 2 billion in 2015, and it is reach to
    USD 3 Billion by 2023, driven by grow demand in
    commercial applications at over 5.2 CAGR, 2016
    2023.
  • The alarming rise in global terrorism will fuel
    the X-Ray Security Screening market over the
    period of 2016 to 2023. The growing awareness
    about terrorist activities and security threats
    such as the smuggling of drugs and weapons will
    increase the adoptions of the x-ray security
    screening systems worldwide. The battery-powered
    X-ray tubes and digital detectors have the
    capability to capture the minutest things, by
    giving high image resolution, which will in turn
    boost the industry demand over the coming years.
  • X-ray security screening system end-users
    comprise transit industry, government, and
    commercial sector. The government sector
    contributed majorly towards the total market
    share accounting for 45 in 2015. As per the
    study, the government application is predicted to
    record an annual growth rate of 5.7 over the
    coming six years, owing to its escalating demand
    for incorporation of the advanced detection
    system in customs, prisons, and law enforcement.

3
Continued
  • Commercial sector is estimated to drive x-ray
    security screening market with a CAGR of 5.2
    over the coming six years.
  • The transit sector worth USD 780 million in 2015
    and is anticipated to register a CAGR of 5.9
    over the period of 2016-2023, driven by its
    growing need to scan passengers and baggage
    thereby, avoiding smuggling of explosive, drugs,
    and weapons. The escalating commercial sectors,
    such as shopping malls, hotels, institutes, and
    corporate offices will also increase the demand
    for metal and gamma ray detector, which, in turn,
    will drive the X-ray security screening system
    industry size. Product screening application will
    boost the growth of x-ray security screening
    industry.
  • People and product screening are the two most
    lucrative applications of the x-ray security
    screening system market. Product screening is
    expected to dominate the application landscape by
    registering an annual growth rate of 5.8 over
    the coming six years. The growth can be
    attributed to its growing requirement across
    government and aviation sectors for the
    applications such as mail screening, baggage,
    cargo, and parcel. Product screening x-ray
    security screening system application worth USD
    600 million in 2015, is predicted to grow
    significantly at an annual growth rate of 5.5
    over the period of 2016 to 2023.

4
China X-Ray Security Screening System Market
size, by end-use, 2012-2023 (USD Million)

5

Browse Full Market Research Report Of X-Ray
Security Screening System Market _at_
http//bit.ly/2ktkmRl Request for a Sample of
this Research report _at_ https//www.fractovia.org/r
equest-sample/273
6
Continued.
  • Taking into account the regional landscape, which
    includes U.S., Canada, Mexico, UK, Germany,
    France, India, China, Japan, and Brazil, U.S
    x-ray security screening system industry attained
    a revenue of USD 580 million in 2015 and is
    projected to register a CAGR of more than 5.7
    over the coming six years. The stringent
    government norms and measures regarding security
    will be the attributing factor. In addition,
    increasing replacement of outdated security will
    contribute significantly towards the regional
    x-ray security screening system market growth.
  • Asia pacific x-ray security screening system
    market size will exhibit lucrative growth rate
    over the coming years, mainly driven by growing
    population resulted in a rise in exports and
    imports of goods, which have to be scrutinized
    across the ports and borders. This, in turn,
    will boost the demand for cargo inspection
    equipment notably.
  • Market participants are willing to update
    technologies regarding security systems to
    sustain their business position over the coming
    years. X-ray security screening system market
    players include Morpho Detection, Analogic
    Corporation, OSI Systems, Rapiscan Systems, Adani
    Systems, Smiths Detection, and Astrophysics Inc.

7
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