May 28, 2020   SOURCE: PR NewsWire

Global Security Screening Market 2020-2025: Assessment of Impact of Covid-19 on the Security Screening Market

DUBLIN, May 28, 2020 /PRNewswire/ -- The "Security Screening Market - Growth, Trends, Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

The global security screening market was valued at USD 6.96 billion in 2019, and it is expected to reach a value of USD 9.14 billion by 2025, registering a CAGR of 5.10% over the forecast period 2020-2025.With the rising terror attack threats at various public and critical infrastructure, security screening plays very critical role, especially for the places such as railways, airports, border checkpoints, government organizations and private sectors, and many others to help reduce and mitigate the associated risk factor.

    --  Security screening enables the assurance from threat against unethical
        and unlawful practices and protecting financials and humans. Security
        screening using various technologies such as X-ray scanners, biometric
        matching, and metal detectors, that are getting very popular at the
        security checkpoints for expediting the process.
    --  The application of security screening has witnessed a positive shift
        toward a more technologically-advanced approach with the rising demand
        for enhanced security across the world. Many countries have increased
        spending on new security equipment and on upping their security measures
        across its various end-user sectors, further aided by the increasing
        global demand for homeland security worldwide, which is expected to grow
        significantly over the forecast period.
    --  The aviation industry is expected to hold the largest market share and
        is expected to continue its dominance over the forecast period, owing to
        the robust rise in the number of airports and consequent air passenger
        traffic. The threat of terrorist attacks and security standards set
        international authorities, including IATA, ICAO, and ACI are among the
        two most influential drivers sustaining the market studied.
    --  Use of e-passport has also gained a traction in recent years. To date,
        there are more than 100 countries across world that are issuing
        e-passport to fast forward the boarding systems. The rise of automated
        border control has driven the adoption of automated security screening
        systems. For instance, United Airlines partnered with TSA
        (Transportation Security Administration) and added over 60 automated
        security screening lanes across the airport in the United States. TSA
        also mentioned that, these automated security screening reduced a
        security screening time by over 30%.
    --  Moreover, except the sudden disruption linked to COVID19, international
        tourism has been increasing rapidly over the recent years, due to
        growing middle class expenditure towards travel in the emerging
        economies. The worldwide revenue accumulation from air travel passengers
        is forecasted to account USD 581 billion in 2020, as per IATA.

The security screening market is moderately competitive and has gained a competitive edge in the past two decades. Companies in the market are pursuing new technologies such as the development of web-based applications that support higher operational availability of our equipment, reduction in the size of equipment to promote flexibility and mobility.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Upsurge in Terror Activities Across the World
4.2.2 Automation of Screening Processes
4.3 Market Restraints
4.3.1 Slower Rate of Penetration of Advanced Systems in Developing Regions
4.4 Industry Attractiveness - Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Assessment of Impact of Covid-19 on the Security Screening Market

5 MARKET SEGMENTATION
5.1 Application
5.2 End User
5.3 Geography

6 COMPETITIVE LANDSCAPE

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS


Companies Mentioned 

    --  Smiths Detection Inc.
    --  L-3 Communications Security and Detection Systems Inc.
    --  OSI Systems Inc.
    --  3DX-Ray Ltd
    --  Teledyne ICm
    --  Analogic Corporation
    --  Nuctech Company Limited
    --  Astrophysics Inc.
    --  CEIA SpA
    --  Gilardoni SpA

For more information about this report visit https://www.researchandmarkets.com/r/sw8ejb

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.


Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

View original content:http://www.prnewswire.com/news-releases/global-security-screening-market-2020-2025-assessment-of-impact-of-covid-19-on-the-security-screening-market-301066880.html

SOURCE Research and Markets