The market for security inspections is expected to reach US$ 10.27 Billion by the end of 2030, growing at a CAGR of 4.3 percent from its estimated value of US$ 7.33 Billion in 2022.
| Security Inspection Market Size (2022) | US$ 7.33 Bn |
| Sales Forecast (2030) | US$ 10.27 Bn |
| Global Market Growth Rate (2022 to 2030) | 4.3% |
| Share of Top 5 Market Players | 20% |
Companies Profiled in Security Inspection Market are Leidos, Nuctech Company Limited, Smiths Group plc., Rapiscan Systems (OSI Systems, Inc.), EAS Envimet Analytical Systems, C.E.I.A. SpA, Bruker, Unival group GmbH, ADANI, Analogic Corporation, Gilardoni S.p.A., Garrett Metal Detectors, Autoclear, LLC, VOTI Detection Inc., Astrophysics Inc., Safeway Inspection System Limited, Rohde & Schwarz, Liberty Defense, Passive Security Scan, Inc. (Defense Technologies International Corp.), Braun & Co. Limited
DUBAI, United Arab Emirates, April 07, 2022 (GLOBE NEWSWIRE) — Future Market Insights (FMI) has projected the global Security Inspection Market to rise at 4.3% between 2022 and 2030, to reach a valuation of over US$ 10.27 billion. The coronavirus global pandemic has had a severe impact on the aviation industry, and has restricted operations by security personnel in multiple sectors. However, with investments in law enforcement and defense sectors, the sales and adoption of security inspection services and products is expected to remain positive in the near future.
Key Highlights
- Personnel screening systems remain highly sought-after in security inspection applications to minimize internal threats
- Aviation sector accounts for greater security inspection product and service adoption through 2030
- Portable security inspection models continue to generate strong demand over, larger area coverage benefits
- North America will remain at the forefront of the industry, given the higher risk of terrorism and domestic unrest in the United States
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List Of Key Players Covered in Security Inspection Market are:
- Leidos
- Nuctech Company Limited
- Smiths Group plc.
- Rapiscan Systems (OSI Systems, Inc.)
- EAS Envimet Analytical Systems
- C.E.I.A. SpA
- Bruker
- Unival group GmbH
- ADANI
- Analogic Corporation
- Gilardoni S.p.A.
- Garrett Metal Detectors
- Autoclear, LLC
- VOTI Detection Inc.
- Astrophysics Inc.
- Safeway Inspection System Limited
- Rohde & Schwarz
- Liberty Defense
- Passive Security Scan, Inc. (Defense Technologies International Corp.)
- Braun & Co. Limited
“Security inspections provide critical protection against threats such as unlawful and unethical actors against human life and property damage costs. Technologies such as biometric matching, X-ray scanners, and metal detectors, are popular at security checkpoints for optimizing scrutiny processes,” says analyst at FMI.
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Covid-19 Impact on Security Inspection Market
The coronavirus pandemic has exposed a wide range of sectors to substantial economic uncertainty owing to restricted operations, and strict social distancing guidelines. The security inspection market is witnessing lower demand, particularly in the transport sector. However, tech innovations could potentially generate key growth opportunities.
While physical distancing becoming the norm, institutions using security inspections are displaying interest towards automated systems, and self-service products to minimize touchpoints to minimize human to human interactions.
Consequently, the advancements in AI and data analytics will help in managing the recovery of the end user sectors such as defense and aviation in terms of traffic growth, airport infrastructure, passenger expectations, and changing security threats.
Competitive Intelligence
Some of the key players in the security inspection market include Leidos, Gilardoni S.p.A., Nuctech Company Ltd., Analogic Corporation, Smiths Group plc, ADANI, Rapiscan Systems, Unival group GmbH, EAS Envimet Analytical Systems GmbH, Bruker, and C.E.I.A. SpA. With the competitive nature of the market landscape, product development and launch strategies, and efforts towards regulatory approval are key strategies.
- The Kylin Ti computed tomography imaging scanner by Nuctech Company Limited has received the European Civil Aviation Conference’s certification of Explosive Detection System for Cabin Baggage (EDSCB) designation.
- The US Transport Security Administration (TSA) has added the EMIS series electromagnetic cargo screening systems to its official list of Air Cargo Qualified technologies, for potential terrorism threats and to detect contraband and restricted goods.
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Categorization of Security Inspection Industry Survey
Security Inspection Market by Product:
- Personnel Screening Systems
- Checkpoint Screening Systems
- Explosives and Drugs Trace Detection Systems
- Liquid and Radioactive Substance Monitors
- Cargo and Baggage Inspection Systems
- Vehicle Inspection Systems
- Others
Security Inspection Market by Type:
- Fixed/Stationary Security Inspection Solutions
- Portable/Mobile Security Inspection Solutions
Security Inspection Market by Application:
- Aviation
- Border Security
- Correctional Facilities and Law Enforcement
- Critical Infrastructure Protection
- Commercial Security
- Others
Security Inspection Market by Service:
- Security Consulting Services
- Installation and Integration Services
- Maintenance and Repair Services
- Security Training Services
- Support Services
Security Inspection Market by Region:
- North America Security Inspection Market
- Latin America Security Inspection Market
- Europe Security Inspection Market
- East Asia Security Inspection Market
- South Asia and Pacific Security Inspection Market
- Middle East and Africa Security Inspection Market
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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