According to a market research report “X-Ray Baggage, Cargo, People, Container & Vehicle Screening Market – 2017-2021”, published by Homeland Security Research Corp., despite common predictions the global X-ray security screening market revenues (including systems sales, aftersales services and upgrades) are forecast to grow by 48% during the report period.
Since explosive-based terror attacks accounted for 56% of over 36,000 worldwide terror attacks over the past 3 years – in Paris, Nice, Brussels, Istanbul, Manchester, London and around the Middle East, Africa and the USA, alongside a strict law-and-order policy and a high priority to the fight against Islamist extremism terror on the part of President Trump, the market is expected to grow, rather than shrink. The 2018 US budget, for example, will increase the federal X-ray security screening related budgets.
Other reasons are the 5% growth in passengers and cargo expected between 2015-2021 as well as the need to replace some 60,000 outdated systems. The 2016 supply side X-ray industry consolidation (Smiths Group acquired Morpho Detection and OSI Systems acquired AS & E) will moderate the industry’s price competition.
The X-Ray Baggage, Cargo, People, Container & Vehicle Screening Market – 2017-2021 report consists of 3 volumes, 727 pages, 147 tables, 253 figures as well as business opportunities and challenges, SWOT analysis, market analyses and market review according to 2015 data, estimate for 2016 and projection for 2017-2021. This report, granulated into 240 submarkets (compared with 89 submarkets in their previous reports), and for the first time, this report includes data & analysis of the X-ray container & vehicle screening technologies and markets.
Explore more Homeland Security and Public Safety Report visit Resource link at: https://homelandsecurityresearch.com/x-ray-security-screening-market/