The security inspection market in Europe is expected to grow from US$ 1,575.6 million in 2019 to US$ 2,711.7 million by 2027; it is estimated to grow at a CAGR of 7.5% from 2020 to 2027.
Owing to rising trade through roadways and surge in intercity travel among the population the governments of various countries are implementing security measures across borders to avoid illegal entry of people or materials. The adoption of vehicle inspection system enables the border security team to check all vehicles crossing borders without involving manpower. This reduces the risk of omission due to human eyes or any other unauthorized proceedings between border officials. These factors are promoting the adoption of vehicle inspection systems across border checkpoints; thereby, contributing to the market growth. For instance, Vehant Technologies, offers NuvoScan, an under vehicle scanning system specially designed for detecting terror activities and threats. The solution is integrated with artificial intelligence and machine learning algorithms to efficiently scan vehicles across all checkpoints in Europe. With the reduction in time taken to scan the vehicle, the system also helps reduce human interference and cost in the long run. The demand for full-body X-ray screening systems across important facilities is among the other factors positively influencing the growth of the Europe security inspection market.
In terms of application, the aviation segment led the Europe security inspection market in 2019. Rising preference of air travel for both international and domestic travel among people is influencing the demand for higher security or screening systems at the airports to ensure safe and secure travelling. For instance, in 2016, 82% of the Americans have travelled via air at least once. Similarly, major economies have recorded high adoption of air travel in 2018. The rise in adoption of air travel is influencing the surge in demand for more security across airports. This is contributing to the high adoption of security inspection systems by the aviation industry.
The ongoing COVID-19 is having a bad impact over the European region. As selected countries observed a rise in the number of reported COVID-19 cases and subsequently experienced strict lockdown periods or social isolation, the effect of COVID-19 varied from one country to other across the European region. However, owing to a strong healthcare system, Western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their development activities across the security sector. With a negative economic growth rate in the first half of 2020, the European economy is projected to contract. It is expected that countries such as the UK, Italy, and Germany would have a greater effect on the economy compared to other European countries. The imbalance in the demand and supply side of security screening solutions, and the lockdown phase in several European countries had a significant negative impact on the security inspection market in the first half of 2020. However, the upliftment of lockdowns have led to start of trade and travel; thereby, expected to influence the growth of the market with the adoption of new technologies to ensure safety and security of its population.
The overall Europe security inspection market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe security inspection market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe security inspection market. ADANI; Analogic Corporation; C.E.I.A. SpA; EAS Envimet Analytical Systems Ges.m.b.H.; Gilardoni S.p.A.; Leidos; Nuctech Company Limited; OSI Systems, Inc.; Smiths Group plc; unival group GmbH are among a few players operating in the Europe security inspection market.