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Global Passenger Screening System Market to Grow at a CAGR of 9.50% During 2022-2027, Aided by the Increasing Passenger Traffic

According to a new report by EMR titled, ‘Global Passenger Screening System Market Report and Forecast 2022-2027’, the global market for passenger screening system is expected to grow at a CAGR of 9.50% in the forecast period of 2022-2027.

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.

Market Analysis by Product, Technology, End-User, and Region:

  • The passenger screening system industry, on basis of product, can be segmented into passenger screening and carry-on baggage screening.
  • Based on technology, the market can be bifurcated into metal and explosive detection systems and advanced imaging systems.
  • On the basis of end-user, the market can be divided into civil airports and military airports.
  • The regional markets for passenger screening system include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing passenger traffic is driving the global market for passenger screening system.
  • The growing demand for speedy security screening to manage the easy flow of passengers is further augmenting the passenger screening system industry.
  • The stringent government regulations to curtail the risk of terrorism are bolstering the market.
  • The rapid technological advancements and the increased expenditure in the research and development activities by the key industry players are expected to propel the market in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for passenger screening system for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the products, technologies, end-users, and major regions of passenger screening system.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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