X-ray Security Scanner Market Size

X-ray Security Scanner Market Analysis

The X-ray Security Scanner Market size is estimated at USD 4.04 billion in 2024, and is expected to reach USD 6.18 billion by 2029, growing at a CAGR of 8.89% during the forecast period (2024-2029).

The X-ray security scanners throw low-radiation penetration to detect metallic and non-metallic objects if hidden.

• With the growth of international trade in commodities and the emergence of fresh security risks across a range of industries, security has been elevated to the top of the priority list. A number of industries are expanding quickly, including event management, police enforcement, lodging and dining, and transportation. The need for X-ray security scanners in the market will increase as the volume of commodities traded is anticipated to increase. Various trade agreements have allowed for continued robust trading in North America, Europe, and Asia.
• The importance of public space security has increased due to an increase in terrorist activity around the world. Various terrorist organizations are enticing followers to target the countries supporting the military operations in Iraq and Syria in Western countries. The importance of intelligence and security systems has increased in light of the same. The x-ray security market is thus being driven by the increase in terrorist acts around the world.
• The rise of baggage scanners that use X-ray technology is also fueled by rising airport security costs. For instance, the Airport Authority of India (AAI) has agreed to pay a large sum of money to a foreign company to supply luggage scanners, which would be deployed at nine Indian airports, including Kolkata and Chennai. In the upcoming years, over USD 400 billion will be invested in airport developments in Asia-Pacific, followed by North America and Europe.
• Moreover, in the previous year, In order to support its Airport Self Service Checkpoint project for the US Department for Homeland Security (DHS), the Australian company Micro-X, which creates cold cathode X-ray technology for health and security markets, announced that it had received funding commitments of USD 23 million.
• However, the adoption of the X-ray security scanner industry has been significantly impacted by the spread of the new coronavirus. Since all of the countries' international borders were blocked as a result of the pandemic, the aviation industry has suffered the most. The travel ban was implemented to stop the virus's spread.
• The commercial adoption of X-ray security scanners has been significantly impacted by the proliferation of COVID-19. The epidemic caused the aviation industry to suffer more than any other sector as international borders started to close. The travel restrictions were put in place to stop the virus's spread. IATA reports that Europe experienced the largest YoY revenue passenger kilometer change on international routes (at -99%, followed by Africa at -98.8%). As a result, x-rays are increasingly less frequently used for passenger screening.