Market Research Future Published a Cooked Research Report, Global Airport Baggage Screening System Market Research Report - Forecast to 2023 - Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2023.
Pune, India -- (SBWIRE) -- 03/15/2018 -- Market Highlights:
Increasing development of aviation sector around the world has led to a rise in demand for airport baggage screening systems to deal with these high demand levels. Market Research Future, a firm which specializes in market reports related to the aerospace sector among others, published in its recent report on Airport Baggage Screening Systems Market Research Report - Global Forecast to 2023 that the global airport baggage screening market is expected to reach the valuation of USD 4,260.9 million and will register a CAGR of 5.42%.
As the aviation sector develops with more airports upgrading their capabilities to deal with increased passenger volumes and increase in the number of flights that operate as compared to the scenario a few years ago. With new terminals being developed, there is also high demand to include advanced baggage screening systems, as security is an important factor that airports base their operation mandate on. The demand for baggage screening systems is also generated due to the need to replace these systems from time to time as they get worn out due to continuous wear and tear.
Presently, due to existing security issues there is an emphasis on using baggage systems that can provide a prime level of screening while not compromising the amount of time taken to process and clear individual passengers. Thus the sector can be characterized as having inelastic demand as the need for exceptional airport baggage screening systems cannot be discounted or compromised against. Growing demand for air travel will make the airport baggage screening systems market even more lucrative.
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Airport Baggage Screening Systems Market - Competitive Analysis
With the entry of new industry players in the global baggage screening systems segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies. Additionally, strict government norms and airport authorities ensuring implementation of regular and advanced security checks, also fuels the market growth.
The key players of global airport baggage screening systems market are American Science and Engineering, Inc., Analogic Corporation, Astrophysics Inc., C.E.I.A. S.p.A., Gilardoni S.p.A., Glidepath Group. Some of the other prominent players are L3 Security & Detection Systems, NUCTECH COMPANY LIMITED, Rapiscan Systems, and Smiths Detection.
Airport Baggage Screening Systems Market – Segments
The global market for airport baggage screening systems has segmented on the basis of product type, baggage type and region.
On the basis of Product Type: Advanced Imaging Systems, Computed Tomography Systems, Explosive Detection Systems, and X-Ray Systems
On the basis of Baggage Type: Hold Baggage and Cabin Baggage
On the basis of Regions: North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America
Industry/ Innovation/ Related News:
August 2017:- Analogic announced its plan to launch the ConneCT Checkpoint CT Scanner for the Americas at Future Travel Experience Global 2017
July 2017 - OSI Systems, Inc. acquired the explosive trace detection business from Smiths Group
May 2017:- L3 Security & Detection Systems received an order from Istanbul New Airport, for the provision of 24 MV3D hold baggage explosives detection systems (EDS).
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North America dominated the market for the airport baggage screening systems in 2016, largely due to existence of major market players in this region. Over the years, there have been high investments on the airport security systems in the region, due to the growing number of attacks and terror threats across the globe. North America is one of the leading regions in the airport baggage screening systems market. The sheer existence of the major manufacturers in this region such as Rapiscan Systems and Astrophysics Inc., among others, combined with the availability of sophisticated technologies to manufacture high-tech baggage screening systems, results in this region being of the leading regions in the airport baggage screening systems market
Similarly, Asia-Pacific is expected to be the leading market for airport baggage screening systems primarily due to the increasing expenses on the development and upgradation of airport infrastructure in the region. Countries such as Malaysia, Indonesia, Philippines, and Thailand have witnessed a steady international air traffic growth in the recent years, which have resulted in higher investments on the airports by their governments.
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