X-ray security scanner market in North America is expected to grow from US$ 1.01 Bn in 2018 to US$ 1.55 Bn by the year 2027. This represents a CAGR of 4.8% from the year 2019 to 2027.
X-Rayy security scanner market operates in a consolidated market scenario. Price differentiation is a major market strategy adopted by the players operating in the market. Generally, products of established companies are high-priced in comparison to the local players. Furthermore, companies highly dependent on government tenders or contracts for a significant share of their revenues. Also, the maintenance services for these X-ray security scanners generate a considerable amount of revenues. There is a huge price difference by tunnel dimension area; for instance, the device deployed for baggage scanner is relatively cheaper than those deployed at vehicle and cargo inspection checkpoints.
The air travel industry is growing at a rapid pace. According to a report released by Boeing related to the current market outlook of the aviation industry (2017–2036), the number of air passengers grew at 6.2% Y-o-Y during the past five years. The factors such as high living standards coupled with rising middle-class population, particularly in emerging markets, have resulted in the increased growth. Also, growth in consumer spending related to tourism and travel in key economies has strengthened the demand for air travel. Owing to increasing air passenger traffic, there is a need to expand existing airport capacity and construction of new airport infrastructure worldwide, which is expected to support the growth of the X-ray security scanner market.
Currently, the US is dominating the global X-ray security scanner market in terms of installation, which in turn boost the demand for X-ray security scanner. Airports across the U.S. are working on key infrastructure and construction projects to enhance and renovate their facilities. These projects comprise of new and upgraded terminals, lighting and passenger amenities, and runways and taxiways. The concerns for public safety are growing, and the demand for advanced baggage scanning technologies is growing in the country. The figure given below highlights the revenue share of Mexico in the North American X-ray security scanner market in the forecast period:
NORTH AMERICA X-RAY SECURITY SCANNER MARKET - SEGMENTATION
North America X-ray Security Scanner Market – By Product Type
North America X-ray Security Scanner Market – By Tunnel Dimension
North America X-ray Security Scanner Market – By Scanning Type
North America X-ray Security Scanner Market – By Country
North America X-ray Security Scanner Market -Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 1.01 Billion |
| Market Size by 2027 | US$ 1.55 Billion |
| CAGR (2019 - 2027) | 4.8% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America X-Ray Security Scanner Market is valued at US$ 1.01 Billion in 2018, it is projected to reach US$ 1.55 Billion by 2027.
As per our report North America X-Ray Security Scanner Market, the market size is valued at US$ 1.01 Billion in 2018, projecting it to reach US$ 1.55 Billion by 2027. This translates to a CAGR of approximately 4.8% during the forecast period.
The North America X-Ray Security Scanner Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America X-Ray Security Scanner Market report:
The North America X-Ray Security Scanner Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America X-Ray Security Scanner Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America X-Ray Security Scanner Market value chain can benefit from the information contained in a comprehensive market report.
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