DUBLIN--(BUSINESS WIRE)--The "Europe Security Screening Market to 2027 - Regional Analysis and Forecasts by Product; Application" report has been added to ResearchAndMarkets.com's offering.
The Europe security screening market accounted for US$ 1.51 Bn in 2018 and is expected to grow at a CAGR of 5.8% over the forecast period 2019-2027, to account for US$ 2.59 Bn in 2027.
The unexpected incidences that resulted in terrorist attacks due to weak security and expansion of airport infrastructure owing to the increase in the air passenger traffic are boosting the security screening market growth. Moreover, the increasing development of urban infrastructure is expected to boost the security screening market.
Over the last few years, some nations have witnessed incidences that resulted in terrorist attacks owing to weak security checks at various places including, airports, seaports, railway stations, and hotels, among others. For instance, in March 2016, departure hall of Brussels' Zaventem International Airport and the Maelbeek metro station were attacked by terrorists killing over 30 people. Three months later, Istanbul Ataturk Airport's parking as well as the entrance of international arrival terminal was attacked by terrorists, killing 41 people.
Further, terrorists have previously targeted Parliament buildings, railway stations, shopping malls, and other such crowded places. Thus, the need to deploy proper security checks at these places have become significant in order to fight against such threats. This, in turn, is driving the growth of security screening market.
The security screening market is fragmented in nature due to the presence of several industries, and the competitive dynamics in the market is anticipated to change during the coming years. In addition to this, various initiatives are undertaken by governmental bodies to accelerate the security screening market further.
For instance, The European Commission has passed a framework mandating all airports and airport operators to upgrade their Hold Baggage Screening complying with ECAC's Standard 3 approved EDS. Airports are given a timeline to implement these by 2020 in European countries, and by 2022 in critical circumstances. Standard 3 necessitates the use of advanced systems comprising of Computed Tomography (CT) technology. This would result in the installation of new scanners in the airports across the region.
Further, the European commission's Digit Single Market strategy is focused on supporting and encouraging online opportunities in Europe, thereby, bolstering the growth of the e-commerce market in Europe. With the rising e-commerce market, the demand for security scanners is anticipated to increase.
The Europe security screening market by product is dominated by the X-Ray Scanner segment in the year 2018 and is anticipated to continue its dominance showcasing a substantial growth rate in the forecast period. Security screening market by product is segmented by x-ray scanner, biometric systems, electromagnetic metal detector, and explosive trace detector.
The demand for x-ray security scanner is expected to continue to grow at a minimal rate during the forecast period, mainly driven by constant geopolitical unrest in several geographic regions and the resulting terrorist and criminal threats. A large share of these x-ray security scanner deployments are government-funded; therefore, budget constraints affect the overall market revenues.
On the other hand, growing installed equipment base creates noteworthy prospects for the aftermarket, which includes service and support services through the sale of software upgrades. The major demand for these devices comes from sectors such as airways, ports, parcels, land security, and public places.
Some of the players present in security screening market are Aware, Inc., Anviz Global, Analogic Corporation, Astrophysics Inc., L3 Security & Detection Systems, Magal Security Systems Ltd, Nuctech Company Limited, OSI Systems, Inc., Smiths Detection Inc., and Teledyne ICM (Teledyne Technologies Incorporated) among others.
Key Topics Covered
1.1 Scope Of The Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Europe Security Screening Market - By Product
1.3.2 Europe Security Screening Market - By Application
1.3.3 Europe Security Screening Market - By Geography
2. Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Security Screening Market Landscape
4.1 Market Overview
4.2 PEST Analysis - Europe
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Security Screening Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Expansion of airport infrastructure owing to the increase in the global air passenger traffic
5.1.2 Unexpected incidences that resulted in terrorist attacks due to weak security
5.2 Key Market Restraints
5.2.1 Apprehensions around X-ray radiation impacts on health limiting the growth
5.2.2 Discrepancies in the Security Sector
5.3 Key Market Opportunities
5.3.1 Increasing Development of Urban Infrastructure
5.4 Future Trends
5.4.1 Advanced technologies that enable effective screening
5.5 Impact Analysis of Drivers and Restraints
6. Security Screening Market - Europe Market Analysis
6.2 Europe Security Screening Market Revenue And Forecasts To 2027 (US$ Mn)
7. Europe Security Screening Market Analysis - By Product
7.2 Europe Security Screening Market Breakdown, By Product, 2018 & 2027
7.3 X-Ray Scanner
7.4 Biometric Systems
7.5 Electromagnetic Metal Detector
7.6 Explosive Trace Detector
8. Europe Security Screening Market Revenue and Forecasts to 2027 - By Application
8.2 Europe Security Screening Market Breakdown, By Application, 2018 & 2027
8.3 Border Check Point
8.6 Public Places
9. Europe Security Screening Market - Country Analysis
10. Industry Landscape
10.2 Merger & Acquisition
10.3 Market Initiative
10.4 New Development
11. Company Profiles
11.1 Aware Inc.
11.2 Anviz Global
11.3 Analogic Corporation
11.4 Astrophysics Inc.
11.5 Magal Security Systems Ltd.
11.6 Nuctech Company Limited
11.7 OSI Systems Inc.
11.8 Smiths Detection Inc.
11.9 Teledyne ICM (Teledyne Technologies Incorporated)
11.10 L3 Security & Detection Systems
For more information about this report visit https://www.researchandmarkets.com/r/rletkn