X-ray security screening market to double in value by 2032, driven by security concerns
From GlobeNewswire: 2024-12-17 08:00:00
The X-ray Security Screening Market was valued at USD 5.85 Billion in 2023 and is projected to reach USD 11.76 Billion by 2032, with a CAGR of 8.09%. Heightened security concerns globally are driving market growth, with investments in advanced X-ray technologies to detect concealed weapons and contraband efficiently.
The X-ray Security Screening Market is fueled by rising public concerns over terrorism, smuggling, and regulatory compliance, leading to increased investments in advanced screening technologies. The Transportation Security Administration (TSA) in the U.S. is investing USD 1.3 billion to enhance aviation security with 1,214 CT X-ray scanners at airport checkpoints by 2024.
Smiths Detection, L3Harris Technologies, Leidos, and other key players are listed in the X-ray Security Screening Market report. The product-screening segment dominated in 2023, capturing 72% market share, while the people-screening segment is expected to grow at a robust CAGR of 9.76% from 2023 to 2032.
In 2023, North America led the X-ray Security Screening Market, with Asia Pacific set to grow at the highest CAGR of 10.11% during the forecast period. Recent trends include partnerships between security companies and airports to enhance security efficiency and passenger experience through advanced X-ray screening technologies. Statistical insights and trends reporting include X-ray security screening wafer production volumes by region in 2023, chip design trends, fab capacity utilization, supply chain metrics, competitive landscape, market segmentation by end use and application, regional analysis, company profiles, and use cases. For more information, visit the link provided.
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