The growing number of terrorist activities around the world is expected to enable speedy expansion of the market, states Fortune Business Insights, in a report, titled “Airport Passenger Screening System Market Size, Share & Industry Analysis, By Type (Metal Detectors, Explosive Trace Detectors, Magneto Static Detectors, Full-Body Scanners, Advanced Imaging Technologies), By Airport Type (International Airport, Domestic Airport) and Regional Forecast, 2021-2028.” The growing number of concerns related to national security is expected to spur opportunities for the market.
This market document offers detailed research and analysis of key aspects of the market. The market analysts authoring this industry analysis report has provided profound information on leading growth drivers, restraints, challenges, trends, and opportunities to offer a complete analysis of the global market. The report highlights CAGR value fluctuations during the forecast period for the market. Market participants can use the analysis of market dynamics to plan effective growth strategies and prepare for future challenges beforehand. A range of key factors are analysed in the report, which will help buyer in studying the industry.
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The report on the airport passenger screening system market covers:
- Grand study of the market
- Wide-ranging analysis of the segments
- Important information about industry players
- Latest market trends and drivers
- Regional analysis with valuable data
Market Driver:
Increasing Demand for Biometrics to Augment Growth
The growing emphasis on security is expected to create lucrative business opportunities for the market. The increasing popularity of biometric technology at airports both international and domestics can promote the growth of the market. The growing need to develop terrestrial laser scanners is expected to facilitate the healthy growth of the market. The increasing technological advancements in passenger screening systems is expected to augur well for the market. The screening devices are designed to identify prohibited items such as liquor products, metal objects, weapons, and others. The growing incidence of security threats at airports can escalate the demand of the market. The increasing number of hijacking is expected to foster the healthy growth of the market. Moreover, the growing usage of innovative imaging systems is expected to aid the expansion of the market.
Nevertheless, the lack of skilled airport staff and the high initial cost of screening equipment are factors expected to dampen the growth of the market.
Regional Analysis:
Presence of Prominent Companies to Augment Growth in North America
The market in North America is expected to witness a high growth rate during the forecast period owing to the existing players such as American Science and Engineering, Inc., Analogic Corporation., and C.E.I.A. SpA. The market in Asia Pacific is expected to hold the largest share in the global market during the forecast period owing to the rising need for airport security. The developing airport infrastructure in China and India is expected to aid expansion in the region. The heavy investments in airports are expected to spur opportunities for the market. Europe is expected to witness a rapid growth rate during the forecast due to a large number of domestic & international airports in the U.K, France, and Germany.
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Key Development:
December 2019: Leidos and the U.S. transportation security administration was awarded a contract with a valuation of USD 926 million to support maintenance and logistics support services for passenger screening equipment.
August 2019: Smiths Detection and Falcon group has been awarded a contract with a valuation of USD 23 million to provide advanced detection systems for cargo screening, passenger checkpoints to airports across Egypt.
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