The global X-ray security scanner market is expected to grow from US$ US$ 3,881.2 Mn in 2017 to US$ 5,951.0 Mn by 2025 at a CAGR of 5.4% between 2018 and 2025.
The sales of X-ray security scanner is largely influenced by numerous factors. On the basis of product type, baggage X-ray security scanner is dominating the global X-ray security scanner market owing to enhanced security requirements at places with large mass population such as airports, shopping malls, stadiums etc. Further, government buildings, customs, and borders need improved safety equipment to evade the risk of terrorism, illegal immigrations, and transfer of contrabands. The report focuses on an in-depth segmentation of X-Ray Security Scanner market based by product type, end-user and geography.
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Market Key Players:
1. Astrophysics, Inc.
2. ADANI
3. Eurologix Security Group
4. L3 Security & Detection Systems
5. NUCTECH COMPANY LIMITED
6. OSI Systems, Inc.
7. Gilardoni S.p.A.
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.
Few of the recent strategies by some of the players in X-Ray Security Scanner market landscape are listed below:
2018: Kromek won the extension contract from Defense Advanced Research Projects Agency (DARPA).
2018: Teledyne ICM unveiled new x-ray system for NDT applications with Teledyne DALSA.
2018: Kromek announced the deployment of its D3S-ID- a standalone radiation detector at Brussels.
2017: Nuctech opened a new branch at Netherlands to work for build global innovative center.
Global X-Ray Security Scanner Market Segmentation:
By Product Type
- Body Scanner
- Baggage Scanner
- Handheld Scanner
- Cabinet X-Ray System
- Vehicle and Cargo Inspection Systems
By End-user
- Air Transportation
- Land Security
- Commercial Malls and Multiplexes
- Government & Banks
- Postal Items.
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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