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

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Global X-Ray Security Screening System Market to
exceed 3bn by 2023 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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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.

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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.

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

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equest-sample/273
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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.

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