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The increasing passenger traffic owing to the growing working-class segment, increasing purchasing power, and availability of affordable airfares are driving the global market for passenger screening system. In addition, the rapid globalisation and increased cultural exchanges are resulting in the increased demand for efficient passenger flow management, which has bolstered the deployment of passenger screening systems. Furthermore, the rising cases of terrorism and the stringent government regulations to curb the risks of such threats are further expected to spearhead the demand for passenger screening systems. Moreover, the increased development of advanced imaging technologies and the growing investments in research and development activities by the key industry players are expected to further bolster the market in the forecast period.
The leading market players are engaging in collaborations and mergers to escalate their market potential by deploying advanced technologies and developing innovative solutions, which is predicted to aid the market. For instance, in January 2019, Rapiscan Systems, Inc., a wholly owned subsidiary of OSI Systems, Inc. (NASDAQ: OSIS), introduced the high-performance Orion Technologies. This technology aims to provide the best quality class image and material discrimination to improve the overall screening processes. The technology is specifically designed to meet the current and future threats. Such developments are projected to support the market growth in the forecast period.
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The major players in the global passenger screening system market are Analogic Corporation, C.E.I.A. SpA, Agilent Technologies, Inc., Garrett Electronics, Inc., Kromek Group PLC., L-3 Security and Detection Systems Inc., Morpho Detection, LLC, and Rapiscan Systems, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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