Security Screening Global Market Report 2024

The security screening market size has grown strongly in recent years. It will grow from $9.94 billion in 2023 to $10.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The expansion during the historical period can be attributed to increased threats and security concerns, the rise in air travel and transportation security needs, global events and terrorism, as well as public awareness and expectations.

The security screening market size is expected to see strong growth in the next few years. It will grow to $14.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The anticipated growth in the forecast period can be attributed to contactless screening solutions, enhanced threat detection algorithms, a focus on privacy and data security, and applications in customs and border security. Key trends expected in the forecast period involve integration with biometric technologies, technological integration in critical infrastructure protection, advancements in detection technologies, multi-modal biometric screening, and remote screening and monitoring.

The security screening market is expected to grow in response to the increasing threat of terrorism worldwide. With terrorism utilizing illegal force for political, economic, religious, or social purposes, there is a heightened demand for security screening systems. According to the Global Terrorism Index, there were 5,226 terrorist acts worldwide in March 2022, impacting nations such as Afghanistan, Iraq, and Somalia significantly. The rising threat of terrorism is a key driver for the growth of the security screening market.

The security screening market is poised for growth driven by the increasing number of traveling people. Traveling, involving the movement of individuals for various purposes, necessitates security screening for passenger safety and the prevention of potential threats. According to the U.S. Department of Commerce, international visitors to the US increased to 22.1 million in 2021. The rising number of traveling people contributes to the growth of the security screening market.

The security screening market is experiencing a trend of technological advancements, with major companies focusing on providing advanced solutions. For instance, Smith Detection collaborated with Microsoft and Heathrow in November 2021 to build an artificial intelligence technology to detect wildlife trafficking, enhancing security screening infrastructure.

The major companies in the security screening market are introducing new products, such as next-generation handheld radionuclide identification devices, to gain a competitive edge. For instance, in February 2021, FLIR Systems Inc., a US-based company specializing in thermal imaging technologies, launched the upgraded FLIR identiFINDER R440. This handheld RID offers increased sensitivity and resolution, enabling quicker and more accurate detection and identification of radioactive threats, contributing to improved public safety.

In March 2023, Tek84 Inc., a US-based provider of high-technology x-ray scanning security solutions, acquired IDSS Corp., a US-based security technology manufacturing company, for an undisclosed amount. This acquisition aims to expand Tek84 Inc.'s cutting-edge X-ray security scanning technologies and create new markets by uniting adjacent industries.

Major companies operating in the security screening market report are NEC Corporation, Thales Group, L3Harris Technologies Inc., Adani Systems Inc., Leidos Holdings Inc., Decision Sciences Corporation, Garrett Metal Detectors, Smiths Group PLC, 3DX-Ray Ltd., OSI Systems Inc., Analogic Corporation, Nuctech Company Limited, Rapiscan Systems Ltd., Muon Systems, Optosecurity Inc., CEIA SpA, Morpho Detection Inc., Astrophysics Inc., Magal Security Systems Ltd., Metrasens Ltd., Kromek Group PLC, Autoclear LLC, Gilardoni SpA, Westminster International Ltd., Passport Systems Inc., Scanna MSC Ltd., Teledyne ICM SA, RedXDefense LLC, Argus Global Pty Ltd., Lingacom Ltd., American Science and Engineering Inc., DetectaChem LLC, FLIR Systems Inc., Implant Sciences Corporation.

North America was the largest region in the security screening market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the security screening market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the security screening market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of security screening are x-ray systems, metal detectors, explosive detectors, biometric systems, and others. X-ray systems detect threats with intelligent and flexible design, applicable in mail and parcel scanning, baggage scanning, cargo and vehicle inspection, explosives, and narcotics screening, used in government buildings, airports, educational institutes, public places, and more.

The security screening market research report is one of a series of new reports that provides security screening market statistics, including security screening industry global market size, regional shares, competitors with a security screening market share, detailed security screening market segments, market trends and opportunities, and any further data you may need to thrive in the security screening industry. This security screening market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The security screening market includes revenues earned by entities by providing measures preventing illicit and other potential hazards to transportation security from accessing the airport's sterile space. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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