Security Screening Market to Witness Robust Growth: Key Trends and Forecasts, 2020-2027

Security Screening Market is Expected to Reach $19.18 Billion by 2027-Allied Market Research

WILMINGTON, DE, UNITED STATES, December 23, 2024 /EINPresswire.com/ -- Allied Market Research, titled, "Security Screening Market¹ by Device Type and End Use: Global Opportunity Analysis and Industry Forecast, 2020-2027," The global security screening market size was valued at $8.35 billion in 2019, and is projected to reach $19.18 billion by 2027, registering a CAGR of 10.2% from 2020 to 2027.

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The primary objective of installing security devices is to provide safety & security to people and their property. Safety screening assures threats against unethical and unlawful activities and protects financials and humans. The rising need for security equipment, such as X-ray systems, hand-held detectors, and biometric systems, is expected to provide growth opportunities for the security screening market. Technological advancements in the security screening market may favorably impact the market growth over the coming years. Many countries have increased spending on new security equipment to advance their security measures.

The security screening market encompasses a significant market share in the government sector, homeland security, educational institute, industrial, and residential sectors. The rising number of smart cities has created the need for security systems while the increase in airports boosts the growth of the security screening market. Security screening has become an important part of detecting land mines and weapons, such as guns, blades, and knives, especially in airport security. Biometric systems are in high demand as this technology is used to secure sensitive and personal data. They are also used for identification purposes at offices and educational institutes. Detection of explosives at airports, seaports, and land borders is an essential task to prevent terrorism and organized crime.

According to global security screening market trends², the companies in the market are pursuing new technologies, such as the development of web-based applications, IoT-based devices, and many more, thereby boosting the growth of the global security screening market. Furthermore, the increase in number of airports and rapid urbanization are the major factors for the growth of the market.

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New trends in security devices, such as computed tomography inspection and built-in alarms, favor the market growth. Increasing terrorism, illegal activities, and fraud boost the use of security screening devices.

Moreover, the need and use of security screening devices are increasing. For instance, X-ray security systems are used in the government sector and aeronautics industry; handheld detectors are used in airports; and biometric systems are used in many offices and educational institutes. Government regulation for greater and more effective security checking boosts the security screening market growth.

Key Findings Of The Study

- By device type, the metal detector segment generated the highest revenue in the security screening market analysis in 2019.
- By end use, the airport segment generated the highest revenue in the security screening market forecast³ in 2019.
- By region, Asia-Pacific generated the highest revenue in the security screening market in 2019.

The key players profiled include Smiths Group plc, L-3 Communications Holdings, OSI Systems Inc., Honeywell International Inc., Lockheed Martin Corporation, Raytheon Company, Security Electronic Equipment Co. Limited., United Technologies Corporation, Safran S.A, and Argus Global Pty.

These key players adopt several strategies, such as new product launch & development, acquisition, partnership & collaboration, and business expansion, to increase their footprint in the global security screening market share during the forecast period.

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¹ https://www.alliedmarketresearch.com/security-screening-market-A10424
² https://www.globenewswire.com/news-release/2021/04/19/2212519/0/en/Security-Screening-Market-to-Garner-19-18-Billion-by-2027-Allied-Market-Research.html
³ https://www.alliedmarketresearch.com/press-release/security-screening-market.html