Contraband Detector Market expected to be worth $5.6 billion by 2026

(IT-NEWSWIRE.COM, June 03, 2021 ) The report "Contraband Detector Market with COVID-19 Impact Analysis by Technology (X-ray,Metal,Spectroscopy), Screening Type (People, Baggage&Cargo, Vehicle),Deployment Type (Fixed,Portable), Application and Regio - Global Forecast to 2026", size is expected to grow from USD 3.9 billion in 2021 to USD 5.6 billion by 2026, at a CAGR of 7.5%. Growing security concerns due to rapid urbanization is expected to fuel the demand for the contraband detector market. The growing demand for contraband detection technologies for transportation applications is expected to play a vital role in the growth of the contraband detector market.

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The market has declined in 2020, mainly due to the impact of COVID-19. The retail, transportation, and automotive supply chains were disrupted in March and April 2020 due to the lockdown imposed by various governments and labor shortages in industries due to travel restrictions, reduced demand from end-users which affected the contraband detector market. Though the market is impacted in 2020, it is expected to fully recover by 2021.

X-ray Imaging technology is expected to hold the largest market share during the forecast period

X-ray imaging technology is estimated to have the largest market share by value and is expected to exhibit a similar growth trend during the forecast period. This is due to the increased adoption of X-ray imaging-based contraband detector systems at various transit locations, such as airports, seaports, and railway stations, and many other applications. X-ray imaging systems use radio waves to detect illicit objects that may be hidden under people’s clothes. A wide variety of concealed materials, including both metallic and non-metallic threat items, can be detected using x-ray screening systems. Large investments have been made in developing X-ray scanning systems to identify potential threats by people and their luggage. Furthermore, different advancements in x-ray systems that include backscatter, Computed Tomography is one of the driving factors for market growth. This has led to drive the market for x-ray technology.

Retail application is estimated to be the fastest-growing market during the forecast period

The contraband detector market for the retail application is expected to be the fastest-growing market s during the forecast period. The increasing demand for advanced contraband detector systems such as screening devices and metal detectors in retail applications is one of the major driving factors for the contraband detector market. Automatic weapons, car bombs, and biological or chemical agents are a few of the contraband goods used to target crowds at malls and retail shops. This has led to rise in the use of contraband detectors in retail. for example, metal detectors are used for people screening, and X-ray screening systems are deployed for baggage screening. Thus, the increasing adoption of contraband detectors is expected to drive the growth of the retail application segment.

The Asia Pacific is expected to grow at the highest rate

The market in APAC is expected to grow at the highest rate during 2021–2026. The global market players are experiencing increased demand for contraband detectors from countries such as China, Japan, India, and South Korea. Increasing demand for contraband detectors such as screening systems, metal detectors, and others in China, Japan, South Korea, and India is expected to drive the growth of the contraband detector market in the region.

Major players in the contraband detector market include Leidos ( US), OSI Systems, Inc. (US), Smiths Group PLC (UK), Nuctech Company Limited (China), Metrasens ( UK), ADANI (US), Costruzioni Elettroniche Industriali Automatismi C.E.I.A. Spa (Italy), Berkeley Varitronics Systems, Inc. (US), Godrej Security Solutions (India) and Campbell/Harris Security Equipment Company (US) among others.

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Contraband Detector Market expected to be worth $5.6 billion by 2026