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Homeland Security Market ResearchPress Releases Homeland Security Research Corp. (HSRC) Predicts a solid 6.7% CAGR for the X-Ray Security Market & Industry

Homeland Security Research Corp. (HSRC) Predicts a solid 6.7% CAGR for the X-Ray Security Market & Industry

Homeland Security Research Corp. (HSRC) Predicts a solid 6.7% CAGR for the X-Ray Security Market & Industry

 

WASHINGTON DC, May. 30, 2019

Against the backdrop of doom and gloom predictions by some experts in the X-Ray industry, HSRC anticipates a strong comeback of the X-Ray security industry generating a solid 6.7% CAGR. HSRC’s new report X-Ray Security Screening Systems (Aviation, Maritime, Land Transportation, Defense, Postal, Perimeter, Building, Baggage, Cargo, People, Container & Vehicle) Global Market – 2019-2024   is the most comprehensive review of the multi-billion-dollar global X-ray screening market, industry and technology forecasts and trends published to date.

 

The report explains how the growth will be boosted by the following drivers:

  • The 2015-2018 ISIS-inspired terror attacks and the migration crisis, which shook the European governments and their security agencies unlike any other terror attacks since 9/11
  • The expansion of the Asia Pacific secured facilities and aviation security markets.
  • The threats of terror emanating from the Middle East and African radical Islamic groups
  • The replacement of more than 55,000 outdated X-Ray systems across the globe
  • Despite a decade of R&D aiming at new baggage, luggage, cargo and mail screening technologies, there is no modality on the horizon that can competitively challenge the cost-performance of the X-Ray based screening technologies.
  • New high sensitivity & high Z, X-Ray detectors

 

Throughout this report period, labor costs will remain the achilles heel of X-Ray explosives, weapons and illicit materials detected in developed countries. Eliminating the labor-intensive nature of the system is a major challenge for the industry.

The report further elaborates that there will be a rise in demand for X-Ray screening capabilities at public venues sites, such as amusement parks, sports arenas, and shopping malls. Indeed, in several sectors (e.g., 1st responders) of the security market, there is a growing demand for highly mobile X-Ray imaging systems to allow for this operation. As estimated by the “Boeing Aviation Passengers growth forecast 2015-2034”, the global CAGR of airport passengers is forecasted at 4.9%.

Airline and airport operators are concerned with the high costs incurred by the ever-increasing security measures they are obliged to comply with. At Frankfurt Airport, 9,500 employees work in the security sector, while up to 200,000 passengers are transported each day. This means that roughly one security person is needed for every 20 passengers daily. Israel’s Ben Gurion Airport, considered one of the world’s safest airports, has 4,500 employees alone working in security tasks. Due to the demand for more effective systems, the cost of explosives, weapons and illicit materials detection technology will remain high and possibly climb higher. Embedded software will be developed to simplify the operator interface, reduce training time and costs, and minimize the “human” factor in assessing the presence of a potential risk.

X-Ray explosives, weapons and illicit materials detection is a need-based market where both the technology and economics (e.g., cost of personnel) create an urgent need for replacements. The alarming number of high false-alarm rates as well as the high cost of personnel and consumables will drive the market. The emergence of new technologies such as Nanotechnology will drive more cost-effective X-Ray explosives, weapons and illicit materials detection products. Lack of sufficient training of X-Ray systems operators is a key concern. HSRC forecasts a substantial growth in the training market.

Customers are driving hard for Best Value from all purchases and the attractiveness of the market continues to draw in new competitors, which could fragment market shares and diminish margins. However, the market growth and the ongoing geo-political unrest will continue to increase the demand for equipment that can detect potential threats from terrorist groups or aggressor nations. These threats constantly change, requiring more sensitive equipment to detect them.

 

For more information, or to purchase a copy, please visit us here

Other reports focusing on specific technology or vertical markets related to the homeland security and public safety market include:

About Homeland Security Research Corp. (HSRC)

Homeland Security Research Corp. (HSRC) is an international market and technology research firm specializing in the Homeland Security (HLS) & Public Safety (PS) industry. HSRC provides premium off-the-shelf and customized market reports on present and emerging technologies and industry expertise, enabling global clients to gain time-critical insight into business opportunities. HSRC’s clients include the U.S. Congress, DHS, U.S. Army, U.S. Navy, DOD, DOT, GAO, NATO and EU, among others; as well as government agencies in Japan, Korea, Taiwan, Israel, Canada, UK, Germany, Australia, Sweden, Finland, Singapore. With over 950 private sector clients (73% returning), including major defense and security contractors and Fortune 2000 companies, HSRC earned the reputation as the industry’s Gold Standard for HLS & PS market reports.

 

Washington D.C. 20004, 601 Pennsylvania Ave., NW Suite 900,

Tel: 202-455-0966, info@hsrc.biz, www.homelandsecurityresearch.com

 

 

Gil Siegel

gil@hsrc.biz

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