WSi News2014-07-29 18:37:22
X-Ray Security Screening Market to grow at 7% CAGR from 2014-2020
According to HSRC's report, "X-ray Security Screening: Technologies and Global Industry & Market - 2014-2020", the global X-ray security screening industry revenues (including systems sales and aftersales service and upgrades) is forecasted to grow from $1.6 billion in 2013 to $2.6 billion by 2020.
Against the backdrop of doom and gloom predictions by some managers in industry, Homeland Security Research Corporation analysts forecast a strong comeback of the X-ray security industry generating a solid 7% CAGR. The growth will be boosted by three main drivers:
1. The expansion of the Asia Pacific secured facilities and aviation security markets
2. The replacement of more than 40,000 outdated X-ray systems
3. 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.
According to HSRC's report, "X-ray Security Screening: Technologies and Global Industry & Market - 2014-2020", the global X-ray security screening industry revenues (including systems sales and aftersales service and upgrades) is forecasted to grow from $1.6 billion in 2013 to $2.6 billion by 2020.
Against the backdrop of doom and gloom predictions by some managers in industry, Homeland Security Research Corporation analysts forecast a strong comeback of the X-ray security industry generating a solid 7% CAGR. The growth will be boosted by three main drivers:
1. The expansion of the Asia Pacific secured facilities and aviation security markets
2. The replacement of more than 40,000 outdated X-ray systems
3. 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.
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