According to
a new market report published by Lucintel, the future of the security detection
system market looks attractive with opportunities in the airport, shipping port,
border, military, and critical infrastructure industries. The global security detection
system market is expected to reach an estimated $5.3 billion by 2022 and is forecast
to grow at a CAGR of 7.3% from 2017 to 2022. The major growth drivers for this
market are a continuing high threat level from terrorism, criminal activity, increasing
air passenger traffic, new airport construction, and stringency in enforcing government
security mandates.
In this
market, x-ray screening systems, trace detection systems, metal detectors, and other
systems are used to ensure the safety and security of people, properties, and
critical infrastructure. Lucintel forecasts that x-ray screening systems will remain
the largest product type due to the increasing use of these systems in airports,
shipping ports, borders, critical infrastructure for luggage inspection and
people screening. The trace detection system is expected to witness the highest
growth in the forecast period supported by the growing demand at airport
checkpoints for luggage and passenger security considering the increase of
terrorism.
Within the
security detection systems market, airports are expected to remain the largest
end use industry with the highest growth due to increased air traffic, and new
airport construction across the globe. This growth will also be supported by government
spending on security systems due to concerns about the usage of improvised
explosive device (IED) and other explosive types.
North America
is expected to remain the largest region over the forecast period supported by
increasing security code reinforcement and increasing government
spending on infrastructure. Asia
Pacific is expected to witness the highest growth over the forecast period due
to the Initiatives
taken by governments to expand their infrastructure due to economic growth, rising standard of living, and increasing
tourism. All of these factors drive the demand for security screening systems.
Emerging trends, which have a direct impact
on the dynamics of the industry, include advancement in metal detector
technology for superior performance, and development of advanced full body
scanners. Smiths Group Plc, Nuctech Company Limited, OSI Systems Inc.
(Rapiscan), Safran S.A. (Morpho), and L3 Security & Detection Systems (L3
SDS) are among the major manufacturers and suppliers of security detection
systems.
Lucintel, a
leading global strategic consulting and market research firm, has analyzed growth opportunities in the
global security detection system by end use industry, product type, application,
and region. Lucintel has prepared a comprehensive research report entitled “Growth
Opportunities in the Global Security Detection System Market 2017-2022: Trends,
Forecast, and Opportunity Analysis.” This Lucintel report serves
as a catalyst for growth strategy as it provides a comprehensive data and
analysis on trends, key drivers, and directions. The study includes a forecast
for the global security detection system market by product type, end use
industry, application, and region as follows:
By Product Type [$M shipment analysis for 2011
– 2022]:
- X-ray Screening Systems
- Trace Detection Systems
- Metal Detectors
- Other Systems
By End Use Industry [$M shipment analysis for
2011 – 2022]:
- Airports
- Shipping Ports and Borders
- Critical Infrastructure
- Military and Emergency Responder
- Other End Uses
By Application [$M shipment analysis for 2011 – 2022]:
- Product Screening
- People Screening
By Region [$M shipment analysis for 2011 –
2022]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
This
208-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Telecommunication
Report, Telecommunication
Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Matrix.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q.1 What are some of the most promising
potential, high-growth opportunities for the global security detection system
market by product type (x-ray screening system, trace detection systems, metal
detectors, and other systems), end use industry (airports, ports and borders,
critical infrastructure, military and emergency responders, and other end uses),
application (product screening and public screening), and region (North
America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace
and why?
Q.3 Which regions will grow at a faster pace
and why?
Q.4 What are the key factors affecting market
dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to
the market?
Q.6 What are emerging trends in this market
and the reasons behind them?
Q.7 What are some changing demands of
customers in the market?
Q.8 What are the new developments in the
market? Which companies are leading these developments?
Q.9 Who are the major players in this market?
What strategic initiatives are being implemented by key players for business
growth?
Q.10 What are some of the competitive products
and processes in this area and how big of a threat do they pose for loss of
market share via material or product substitution?
Q.11 What M & A activities have taken
place in the last 5 years in this market?
