Growing Number of Airports to Drive India & South-East Asia Airport X-Ray Security Screening Market Growth during 2021–2028
According to The Insight Partners market research study on “India & South-East Asia Airport X-Ray Security Screening Market Forecast to 2028 – COVID-19 Impact and Analysis – by Component (Solutions and Services) and Type (Baggage Screening and People Screening),” the market is expected to reach US$ 410.3 million by 2028 from US$ 291.8 million in 2021; it is estimated to grow at a CAGR of 5.0% from 2021 to 2028. The report provides trends prevailing in the market along with the drivers and restraints pertaining to the market growth.
Governments across India & South-East Asia are striving toward bringing advancements in the aviation sector and associated industries. The growing investments toward the construction of newer airports and expansion of existing ones encourage the adoption of enhanced solutions for better operations.
As per the International Air Transport Association (IATA), India's passenger traffic stood at 115.37 million in FY21. To cater to the rising air traffic, considerable investments are being made to build new airports or expand existing infrastructures. As of 2020, India had 153 operational airports. India has envisaged increasing the number of operational airports to 190– 200 by FY40. As per the International Air Transport Association (IATA), the number of aircraft is expected to reach 1,100 planes by 2027.
Additionally, as per the Center for Aviation (CAPA), US$ 3.4 billion will be invested in the Indian aviation sector. Moreover, in Indonesia, the construction of a new airport (Kediri Airport) has been in progress since April 2020 and will be completed by December 2021. This project is estimated to cost IDR 1.5 trillion (US$ 112 million) and will feature a 2,500 m runway.
Due to the COVID-19 outbreak, Indonesia, Singapore, Malaysia, Thailand, and Vietnam are a few major affected countries in South-East Asia. Businesses in the region had to face severe economic difficulties by suspending their operations or reducing their activities substantially. Due to the temporary shutdown of businesses, the region witnessed an economic slowdown in 2020.
Air business is one of the essential businesses in South-East Asian countries, and the COVID-19 outbreak across the region has paralyzed the entire industry. The revenue generated from airports contributes a significant share in the GDP of every South-East Asian country. However, the airports in the region are witnessing a continuous fall in revenues, as operations were suspended for regular passenger flights in 2020 and airport infrastructure development was paused in several countries. Due to the temporary termination of airport operations (except freight aircraft), the revenue generation for end users (airport owners) has fallen drastically, which would take a longer time to normalize. This showcased a negative effect on the airport x-ray security screening market in Southeast Asian countries in 2020. However, in 2021, with the uplifting of lockdown, the domestic flights are operating, which is slowly propelling the need for x-ray security screening at the airports for the screening off passengers.
ADANI; Nuctech Company Limited; OSI Systems, Inc.; Leidos; Astrophysics Inc.; VOTI Detection Inc.; Smiths Group plc; and Pexray Oy are among the leading companies operating in the India & South-East Asia airport x-ray security screening market. These players adopt organic growth strategies, such as product launches and expansions, to sustain their position in the market.
The report segments the India & South-East Asia Airport X-Ray Security Screening Market as follows:
By Component
- Solutions
- Services
By Type
- Baggage Screening
- People Screening
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