The security inspection market expected to grow from US$ 7,305.6 million in 2021 to US$ 11,041.0 million by 2027. The Security inspection market is expected to grow at a CAGR of 6.7% during the forecast period of 2020 to 2027.
The key factors driving the security inspection market are an increase in the adoption of vehicle inspection systems across border checkpoints, the surge in demand for full-body X-ray screening systems across airports, railways, shopping malls, banks, country borders, and others. The vendors have a huge opportunity by offering automated security scanning and integration of artificial intelligence with security inspection systems. The various technologies used for security inspection are biometric technologies, X-rays, explosive trace detectors, electromagnetic detectors, and others. The advancements in technology are creating a lucrative opportunity for companies offering security inspection system. Companies are developing new applications such as Nuclear Quadrapole Resonance (NQR). Owing to rising trade through roadways and surge in intercity travel among the global population the governments of various countries are implementing security measures across borders to avoid illegal entry of people or materials. The adoption of vehicle inspection system enables the border security team to check all vehicles crossing borders without involving manpower.
Due to the shutdown of businesses and delay in procurement activities in the last six months of 2020, the market is significantly impacted. Moreover, the falling GDP is another factor negatively impacting the growth of the security inspection market. The COVID-19 crisis has drastically impacted the operations across the value chain, from supplier networks to the customer delivery experience. Moreover, this has influenced the adoption of contactless security inspection systems across the country to comply with both safety regulation and social distancing norms laid down by the respective government body.
Lucrative Regions in Security Inspection Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Security Inspection Market Insights
Surge in Demand for Full-Body X-ray Screening Systems across Important Facilities
With the rise in terrorism worldwide, security inspection equipment has become necessary across the crowded and government facilities; thus, increasing the demand for efficient and full body scanning systems for screening humans, baggage, and cargoes, among others. X-ray screening helps in scanning objects without human intervention and scans large number of individuals and baggage in less time. Therefore, X-ray screening is being adopted among facilities such as metro stations, railways stations, airports, and seaports. ADANI offers x-ray screening systems for detecting non-metallic weapons, plastics, liquid explosives, and drugs under clothing. Thus, owing to the demand for efficient scanning, full-body x-ray systems are gaining a significant scope across the security inspection market.
Product Type -Based Market Insights
Based on the product type, the security inspection market is segmented as personnel screening systems, cargo and baggage inspection systems, vehicle inspection systems, and others. Personal screening systems segment led the security inspection market with a highest market share. Personnel screening systems assist in the inspection or search of people before granting access to them into high security places, such as airports, court houses, prisons, and museums. These solutions are being highly adopted in order to detect hidden weapons, explosives, and other contrabands, while maintaining a physical contact between the individual and the security personnel.
Security inspection Market, by Product Type – 2021 and 2027
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Application -Based Market Insights
Based on the application, the security inspection market is segmented as aviation, border security, critical infrastructure protection, commercial security, and others. Aviation segment led the security inspection market with a highest market share. Rising adoption of air travel for both international and domestic travel among people is influencing the demand for higher security or screening systems at the airports to ensure safe and secure travelling. Rise in adoption of air travel is influencing the surge in demand for more security across airports. This is contributing to the high adoption of security inspection systems by the aviation industry
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Security Inspection Market: Strategic Insights
Market Size Value in US$ 7,305.6 Million in 2021 Market Size Value by US$ 11,041.0 Million by 2027 Growth rate CAGR of 6.7% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Security Inspection Market: Strategic Insights
Market Size Value in | US$ 7,305.6 Million in 2021 |
Market Size Value by | US$ 11,041.0 Million by 2027 |
Growth rate | CAGR of 6.7% from 2020-2027 |
Forecast Period | 2020-2027 |
Base Year | 2020 |
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Speak to AnalystPlayers operating in the Security inspection market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the security inspection market. A few developments by key players of the security inspection market are:
In October 2020, OSI Systems, Inc. was awarded with multiple contracts for approx. $93 million from an international government customer to provide various Rapiscan X-ray cargo & vehicle inspection systems, trace detection systems, baggage & parcel inspection systems, and follow on maintenance & support from its security division.
In May 2020, Nuctech Company Limited helped Turkish customs to seize two major drug smuggling cases. According to Turkish local official reports, the Turkish customs had used the Nuctech container/vehicle inspection system to seize two drug smuggling cases at border land ports.
Security Inspection Market – by Product Type
- Personnel Screening Systems
- Cargo and Baggage Inspection Systems
- Vehicle Inspection Systems
- Others
Security Inspection Market – by Application
- Aviation
- Border Security
- Critical Infrastructure Protection
- Commercial Security
- Others
Security Inspection Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- UK
- Italy
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- Japan
- Australia
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- SAM
- Brazil
- Argentina
- Rest of SAM
Security Inspection Market – Company Profiles
- Adani Group
- Analogic Corporation
- C.E.I.A. SpA
- EAS Envimet Analytical Systems Ges.m.b.H.
- Gilardoni S.p.A.
- Leidos
- Nuctech Company
- OSI Systems
- Smiths Group
- Unival Group GmBH
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Presently, APAC held the largest share of the global security inspection market. Within the region, security is the major concern of the government across countries such as India, Australia, Malaysia, New Zealand, Myanmar, the Philippines and Sri Lanka. In the long-term scenario, while China is expected to continue to be the key driver for adoption of automated solutions in the region, the shifts in security preference from traditional systems to technologically advanced automated systems is the major factor that is influencing the growth of the security inspection market across the APAC region.
With the rise in terrorism worldwide, security inspection equipment have become necessary across the crowded and government facilities; thus, increasing the demand for efficient and full body scanning systems for screening humans, baggage, and cargoes, among others. X-ray screening helps in scanning objects without human intervention and scans large number of individuals and baggage in less time. Therefore, X-ray screening is being adopted among facilities such as metro stations, railways stations, airports, and sea ports. ADANI offers x-ray screening systems for detecting non-metallic weapons, plastics, liquid explosives, and drugs under clothing. Thus, owing to the demand for efficient scanning, full-body x-ray systems are gaining a significant scope across the security inspection market.
Personnel screening systems assist in the inspection or search of people before granting access to them into high security places, such as airports, court houses, prisons, and museums. These solutions are being highly adopted in order to detect hidden weapons, explosives, and other contrabands, while maintaining a physical contact between the individual and the security personnel. Apart from the regular metal detectors, new technologies such as millimeter waves and x-rays are being adopted by authorities for better and efficient screening. For instance, in September 2020, the Transportation Security Administration (TSA) of the US has adopted two types of full-body security inspection systems general-use x-ray and millimeter wave.
The List of Companies - Security Inspection Market
- Adani Group
- Analogic Corporation
- C.E.I.A. SpA
- EAS Envimet Analytical Systems Ges.m.b.H.
- Gilardoni S.p.A.
- Leidos
- Nuctech Company
- OSI Systems
- Smiths Group
- Unival Group GmBH
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
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- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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