GLOBAL SECURITY SCREENING EQUIPMENT MARKET: INTRODUCTION
Security has now become a vital part of each and every area of government as well as private spaces such as airports, embassies, hotels, small commercial spaces, supermarkets, etc. The aim is to avoid loss of man and material either through theft or terror attacks. Over the years, there has been an increase in terror activities across the globe, which has led to an increase in demand for proper security checkpoints design. Various governments are enforcing stricter regulations and laws for inspection of people in transit. With the advancement achieved in weapon technology, manufacturers in the security screening equipment market are making efforts to develop equipment with highest functional and operational performance.
Security screening equipment now are capable of detecting objects as small as a needle and thus, ensure proper security of the location/area/campus. The screening equipment ensure high efficiency and eradicate any chances of errors that are common during security screening done by humans. When mapped out of product life cycle, the security screening equipment market is in maturity phase. The market, right now, is focussing on improvisation of existing technologies for better fulfilment of general to high-sensitive applications. The security screening equipment find major application in airports, government buildings, military applications, embassies, commercial spaces such as supermarkets, jewellery shops, financial institutions, luxury hotels, etc. Airports, military and government building usually deploy high-sensitive security screening which includes x-ray scanners, explosive detectors, etc. The security screening equipment market is expected to witness robust growth over the forecast period.
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GLOBAL SECURITY SCREENING EQUIPMENT MARKET: MARKET DYNAMICS
The global Security Screening Equipment market is expected to be significantly driven by increasing government investments in security due to the upsurge in terror activities across the globe. Furthermore, ongoing infrastructural developments across countries to develop new airports, stadiums and other such infrastructures will also lead to an increased demand for novel and efficient security screening systems. A significant upsurge in demand for security screening equipment from private sector is expected over the forecast period. This is primarily due to the fact that, people, day-by-day, are getting aware of the importance of such equipment and as a result, these systems are also being increasingly deployed in residential buildings/apartments/townships so as to ensure the safety of man, material and property. Installation of biometric systems at commercial spaces is also an example of the same.
The market for security screening equipment is highly competitive due to the presence of a large number of Tier I and Tier II players globally. Owing to this fact, advancement in technology has emerged as a major product differentiator among manufacturers. The global security screening market is expected to significantly benefit from the strict laws and regulations regarding inspection of human and goods/luggage in transit.
One of the chief factors restraining the growth of the security screening equipment is the high installation cost of these equipment, particularly complete object/body detectors. This limits application of full body detectors to airports and government & military buildings. Another prominent factor that is hampering the growth of the market is the negative publicity of some screening equipment – it’s been said and written often that these equipment pose threat to human health due to exposure to various radiations.
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GLOBAL SECURITY SCREENING EQUIPMENT MARKET: MARKET SEGMENTATION
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GLOBAL SECURITY SCREENING EQUIPMENT MARKET: REGION-WISE OUTLOOK
Asia Pacific is expected to dominate the volume demand for Security Screening Equipment over the forecast period. Increasing number of airports are expected to be the prime reason for the growth of the market. North America and Europe are expected to be the next big markets for security screening equipment. These regions are expected to witness significant CAGR growth over the forecast period. Latin America is expected to witness significantly low volume sales as compared to North America. The Latin America market will witness moderate CAGR growth over the forecast period.
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GLOBAL SECURITY SCREENING EQUIPMENT MARKET: MARKET PARTICIPANTS
Examples of some of the market participants identified in the global Security Screening Equipment market are:
- Ketech Defence Ltd.
- Point Security, Inc.
- Rapiscan Systems
- Analogic Corporation
- E.I.A. S.p.A.
- American Science and Engineering Inc.
- XP Metal Detectors
- Adani Systems
- Teledyne DALSA Inc
- PerkinElmer Inc.
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