Global contraband detector industry expected to reach $5.7 billion by 2026 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Worldwide Contraband Detector Industry” report has been added to from ResearchAndMarkets.com offer.

The global Contraband Detectors Market is estimated to be valued at USD 4 Billion in 2021 and is projected to reach USD 5.7 Billion by 2026, growing at a CAGR of 7.5%.

Contraband products are explosives or radioactive items, and they come in fixed and portable models. Airports and subway stations use these detectors to check baggage and prevent theft, and guards analyze the scenario to determine its validity. Contraband detectors compare the density of the object to that of the drug or contraband. Contraband detectors are used by government, transportation and homeland security.

The overuse of these devices by extremists has increased over the past two decades. Shopping malls, airports, train stations and other important places like stadiums and hotels now require security checks and drills to enter. The recent increase in illicit drug trafficking has fueled the expansion of the contraband detector industry.

High initial investment and increasing maintenance and operating expenses associated with extensive security systems are some of the major factors limiting the growth of the market.

The global contraband detector market is segmented on the basis of technology, type of detection, type of deployment, application and geography.

Competitive quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and assess the position of companies based on their industry position score and market performance score. The tool uses various factors to classify players into four categories. Some of these factors considered for analysis are financial performance over the past 3 years, growth strategies, innovation score, new product launches, investments, market share growth, etc

Why buy this report?

  • The report offers a comprehensive assessment of the global contraband detectors market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and market size projections. Projections are calculated using proven research methodologies.

  • The report has been compiled through extensive primary and secondary research. The main research is done through interviews, surveys and observations of renowned personnel in the industry.

  • The report includes in-depth market analysis using Porter’s 5 forces model and Ansoff’s matrix. Additionally, the impact of Covid-19 on the market is also presented in the report.

  • The report also includes the regulatory scenario in the industry, which will help you to make an informed decision. The report discusses the major regulatory bodies and major rules and regulations imposed on this industry across various geographies.

  • The report also contains competitive analysis using Positioning Quadrants, the analyst’s proprietary competitive positioning tool.

Market dynamics

Drivers

  • The importance of security measures and strict security regulations

  • Drug trafficking is persistent and evolving

  • Increased government investment for improving existing transit facilities and building new transit locations, especially airports

  • Continuous technical advancements in security screening systems

Constraints

  • High initial investment and maintenance cost

Opportunities

  • Digital transformation through the inclusion of AI technology in security applications

  • High importance of security measures in aeronautical and retail applications

Challenges

  • Body scanners pose medical risks

Companies cited

  • 3DX-Ray

  • ADANI Systems (LINEV Group)

  • Astrophysics

  • Automatic clearing

  • Aventura Technologies

  • Berkeley Varitronics Systems

  • Bruker Corporation

  • CEIA SpA

  • CSECO

  • Garrett Metal Detectors

  • Gilardoni Raggi X and Ultrasound

  • Global Security Solutions

  • Godrej Security Solutions

  • Leidos

  • Metasens

  • Nuctech Company

  • OSI systems

  • PKI Electronic Intelligence

  • Ranger Facilities and Security Management

  • scans

  • group of blacksmiths

  • Vidisco

  • VOTI detection

  • Westminster Investigations and Security Management

For more information about this report visit https://www.researchandmarkets.com/r/m58jfm

About Geraldine Higgins

Check Also

Delaware Investments® Dividend and Income Fund, Inc. Announces Distributions

PHILADELPHIA CREAM–(BUSINESS WIRE)–Today, Delaware Investments Dividend and Income Fund, Inc. (the “Fund”), a closed-end fund …