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Contraband Detector Market Projected to reach $5.4 billion by 2024

Electronics

Updated on Jun 29, 2020

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According to the new market research report "Contraband Detector Market by Technology (X-ray, Metal Detection, Spectrometry & Spectroscopy), Screening (People, Baggage & Cargo), Deployment (Fixed, Portable), Application (Transportation, Government, Retail), and Region - Global Forecast to 2024", the contraband detector market is projected to grow from USD 3.9 billion in 2019 to USD 5.4 billion by 2024; it is expected to record a compound annual growth rate (CAGR) of 6.7%. The rising government investments for improvement of existing transit facilities and construction of new transit locations, especially airports, is the major factor that drives the market growth.

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X-ray imaging technology to account for the largest share of the contraband detector market

A wide variety of concealed materials, including both metallic and non-metallic threat items, can be detected using X-ray screening systems. Substantial investments have been made in developing X-ray scanning systems to identify potential threats by people and their luggage. These X-ray scanners can identify harmful, organic, inorganic, and metal materials. Security X-ray machines use low dose penetrating radiation to detect metallic and non-metallic objects hidden under clothing or body cavities. Energy transmission, backscatter, and computed tomography (CT) are the major X-ray screening technologies.

Baggage & cargo screening segment is expected to dominate the contraband detector market during the forecast period

As the passenger traffic is increasing day-by-day, advanced security systems and contraband detector systems have high demand at places such as airports and seaports. Strict rules and regulations regarding banned or restricted items, such as explosive materials, flammable items, and radioactive materials, in carry-on and checked baggage need to be followed to avoid any unlawful activities. Apart from airports, other public places also require screening of baggage to ensure a secure environment. X-ray imaging and computed tomography are main scanning techniques used for screening baggage. It is mandatory to screen baggage and cargo in all countries across the world.

North America to account for the largest share of the contraband detector market by 2024

Major factors driving the growth of the contraband detector market in North America include the rise in security concerns, high investments in security segment, initiatives by the government to control and prohibit contraband items, and the presence of major players. Increased need to reduce security threats, high adoption of advanced security screening systems at airports, and strict government regulations for baggage and luggage screening at various transit locations drives the growth of market in North America.

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L3 Technologies, Inc. (L3, US); OSI Systems, Inc. (OSI, US); Smiths Group PLC (Smiths Group, UK); NUCTECH Company Limited (Nuctech, China); Metrasens (Metrasens, UK); Magal Security Systems Ltd. (Magal Security Systems, Israel); ADANI Systems (ADANI, US); Costruzioni Elettroniche Industriali Automatismi C.E.I.A. SpA (CEIA, Italy); Berkeley Varitronics Systems, Inc. (Berkeley Varitronics Systems, US); Godrej Security Solutions (Godrej Security, India); Campbell/Harris Security Equipment Company (CSECO, US); are among a few key players in the contraband detector market.
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