Yahoo Finance Security Screening Global Market Report 2022: Featuring Smiths Group, L-3 Communication Holding, OSI Systems, Magal Security Systems & Argus Global
Dublin, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The "Security Screening Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global secuitry screening market is expected to grow from $8.71 billion in 2021 to $9.45 billion in 2022 at a compound annual growth rate (CAGR) of 8.57%. The secuitry screening market is expected to reach $13.58 billion in 2026 at a compound annual growth rate (CAGR) of 9.49%.
North America was the largest region in the security screening market in 2021. The regions covered in the security screening market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing terrorism is expected to propel the growth of the security screening market. Terrorist uses illegal force and violence to achieve a political, economic, religious, or social purpose through fear, compulsion, or intimidation. With these growing unlawful immigration and terrorist acts worldwide, the demand for security screening systems has risen.
According to the Global Terrorism Index, there were 5,226 terrorist acts worldwide in March 2022, up from 4,458 in 2020, which is an increase of 17%. Few nations, including Afghanistan, Iraq, and Somalia, are more significantly impacted by terrorism. Therefore, increasing terrorism will drive the security screening market.
Technological advancements have emerged as the key trend in the security screening market. Major companies operating in the security screening market are focused on providing technologically advanced solutions to strengthen their market position. These companies are implementing next-generation security screening technologies into their product and services, such as CT scanners, under-vehicle inspection technologies (UVIS), automated screening lanes, facial recognition, millimeter-wave technology, and others to safeguard and prevent prohibited items and other threats to security.
For instance, in November 2021, Smith detection, a threat detection and security screening company, collaborates with Microsoft and Heathrow to build an artificial intelligence technology to detect wildlife trafficking. In the initial testing phase, this technique will be used with their existing screening and security infrastructure to combat illegal wildlife trafficking with AI-powered technology.
In May 2020, Leidos, a US-based engineering company, acquired L3Harris Technologies' ("L3Harris") Security Detection and Automation businesses for approximately $1 billion in cash. With this acquisition, Leidos will continue to broaden the scope and scale of its operations in securing ports and borders, enhancing passenger circulation in future airports, and reinforcing infrastructure for national security and public venues. L3Harris Technologies is a US-based defense and space manufacturing company.
Scope
Markets Covered:
1) By Type: X-Ray System; Metal Detectors; Explosive Detectors; Biometric System; Others
2) By Application: Mail And Parcel; Baggage Scanning; Cargo And Vehicle Inspection; Explosives And Narcotics
3) By End-User: Government Buildings; Airports; Educational Institutes; Public Places; Others
Key Topics Covered:
1. Executive Summary
2. Security Screening Market Characteristics
3. Security Screening Market Trends And Strategies
4. Impact Of COVID-19 On Security Screening
5. Security Screening Market Size And Growth
6. Security Screening Market Segmentation
7. Security Screening Market Regional And Country Analysis
8. Asia-Pacific Security Screening Market
9. China Security Screening Market
10. India Security Screening Market
11. Japan Security Screening Market
12. Australia Security Screening Market
13. Indonesia Security Screening Market
14. South Korea Security Screening Market
15. Western Europe Security Screening Market
16. UK Security Screening Market
17. Germany Security Screening Market
18. France Security Screening Market
19. Eastern Europe Security Screening Market
20. Russia Security Screening Market
21. North America Security Screening Market
22. USA Security Screening Market
23. South America Security Screening Market
24. Brazil Security Screening Market
25. Middle East Security Screening Market
26. Africa Security Screening Market
27. Security Screening Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Security Screening Market
29. Security Screening Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
Smiths Group plc
L-3 Communication Holding Inc.
OSI Systems
Magal Security Systems Ltd.
Argus Global Pty Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ngcxjp
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