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Increasing cross-border transfer of goods is anticipated to escalate the X-ray security scanner market growth at a CAGR of 5.4%

Demand of X-ray security scanner in near future is mainly driven by growing air transport and constant geopolitical unrest across various geographical regions. Also, terrorism and criminal threats further boost the deployment of the device with variation by geography and end-user segment. Besides this, the mounting installed base further creates prospects for aftermarket and software upgrade returns. Companies operating in the market are focusing on expanding their footprints into emerging economies of the world. This is due to increasing infrastructural developments in these economies owing to increasing urban population. Also, stringent government regulations towards safety and security concern is propelling the growth of the market. High risk of terror attacks is another factor bolstering the market growth. The government of countries across the globe are concerned about their public safety and hence, mandating proper security checks at public places.

The X-Ray Security Scanner market has been segmented on the basis of product type into full body X-ray scanners and baggage scanners. Further, the baggage scanner segment is sub-segmented into handheld scanners, cabinet X-ray system, and cargo and vehicle inspection systems. Also, the market is categorized by end-user segment into air transport, land security, commercial malls and multiplexes, government and banks, postal items and others. Air transport is the largest segment by end-user, which accounts for more than half of the total market share of the X-ray security scanner market.

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The countries in the APAC region are attracting FDI by relaxing their regulations as well as exit norms for the foreign investors. For example, The Government of India designed a new FDI policy in the year 2017 under which many amendments were applied such as, the Reserve Bank of India has announced 100% FDI under automatic route for the construction development sector. This limit was announced in 2014. Further, the government relaxed FDI rules in the construction sector by decreasing minimum requirement of capital as well as the built-up area. The government has also relaxed the exit norms. Moreover, the Government of Malaysia is seeking to collect approximately US$ 10 Bn for investments in infrastructure. In 2016, the Indonesian government released 10th economic policy package to attract FDI by eliminating the foreign ownership limit on country’s 35 industrial sectors. This would further result in increasing commercial construction in the region. Thus, such developments are anticipated to bolster the growth X-ray security scanner market during the forecast period.

Due to increasing air passenger as well as air cargo traffic across the globe, the government of various countries are significantly investing in their airport infrastructure. Major growth has been witnessed in emerging economies of APAC, Middle East, South America, as well as African region. This growth is highly attributed to constant increase in the middle class population of these regions thus, rising affordability of people for air travel. Further, even mature markets are witnessing expansion in their airport infrastructure due to rising number of international travelers. Thus, with the rising investments in airport infrastructure worldwide, the growing demand for X-ray security scanners is anticipated to boost the X-ray security scanner market.

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Key findings of the study:

  • In 2017, North America and Europe contributed to the largest share of market revenue which accounted for more than 50% of overall X-Ray Security Scanner market. The increasing security concerns in airport and large amount of baggage scanning is influencing the market growth in these regions.
  • APAC led the X-ray security scanner market in 2017 with more than one-third of the market share and it is expected to maintain its dominance during the forecast period by growing at a CAGR of more than 7.6%.

Company Profiles

  • Astrophysics, Inc.
  • ADANI
  • Eurologix Security Group
  • L3 Security & Detection Systems
  • Nuctech Company Limited
  • OSI Systems, Inc.
  • Gilardoni S.p.A.
  • Kromek Group plc
  • Smiths Detection Inc.
  • Teledyne ICM

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