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Security Screening market in Europe is expected to grow from US$ 2,304.5 Mn in 2018 to US$ 17,158.7 Mn by the year 2027.

High Demand for Security Screening Market Research Reports Results in Business Market Insights Launching Subscription Plans

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Security Screening market in Europe is expected to grow from US$ 2,304.5 Mn in 2018 to US$ 17,158.7 Mn by the year 2027. This represents a CAGR of 24.9% from the year 2019 to 2027.

The rise in the air passenger traffic has led to the expansion of airport infrastructure and increased cross-border transactions owing to rapid growth in the e-commerce industry are the key factors driving the growth of the security screening market. Moreover, the growth of the infrastructure sector in developing economies is anticipated to boost the security screening market growth in the near future. Construction & infrastructural development is considered to be one of the prime contributors to a country’s socio-economic development. The developing economies worldwide, including India, China, and Australia, among others, are experiencing a notable growth rate in commercial construction. This has resulted in the development of new commercial construction, including shopping malls, railway stations, commercial complexes, hotels, and hospitals, among others.

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China dominated the security screening market in 2018 and is expected to dominate the market with the highest share in the Asia Pacific region through the forecast period. The Chinese government is highly focused on the development of its infrastructure and has taken several measures to support the development. For instance, the country’s central government intensely pushed fiscal incentive in the form of infrastructure investments recently for sustaining economic growth. Also, China’s 13th Five Year Plan is focused on increasing investments in the country’s infrastructure. Further, the construction of the second international airport in Beijing is planned to be completed by 2019.

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ASIA PACIFIC SECURITY SCREENING MARKET SEGMENTATION

By Product

X-Ray Scanner

Biometric Systems

Explosive Trace Detector

Electromagnetic Metal Detector

By Application

Public Places

Border Check point

Government

Airport

Others

By Country

Australia

China

India

Japan

South Korea

Rest of APAC

Security screening Market – Companies Mentioned

Aware, Inc.

Anviz Global

Analogic Corporation

Astrophysics Inc.

L3 Security & Detection Systems

Magal Security Systems Ltd.

Nuctech Company Limited

OSI Systems, Inc.

Smiths Detection Inc.

Teledyne ICM (Teledyne Technologies Incorporated)

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