The coronavirus global pandemic has had a severe impact on the aviation industry and has restricted operations by security personnel in multiple sectors. However, with investments in the law enforcement and defence sectors, the sales and adoption of security inspection services and products is expected to remain positive in the near future.
With these factors under consideration, a new study has projected the global market for security inspections to rise at 4% between 2020 and 2030, to reach a valuation of over US$10.2 billion.
“Security inspections provide critical protection against threats such as unlawful and unethical actors against human life and property damage costs. Technologies such as biometric matching, X-ray scanners and metal detectors are popular at security checkpoints for optimising scrutiny processes,” says analyst.
The coronavirus pandemic has exposed a wide range of sectors to substantial economic uncertainty owing to restricted operations and strict social distancing guidelines. The security inspection market is witnessing lower demand, particularly in the transport sector. However, tech innovations could potentially generate key growth opportunities.
While physical distancing is becoming the norm, institutions using inspections are displaying interest towards automated systems and self-service products to minimise touchpoints and human to human interactions.
Consequently, the advancements in AI and data analytics will help in managing the recovery of the end user sectors such as defence and aviation in terms of traffic growth, airport infrastructure, passenger expectations and changing threats.
These insights are based on a report on the Security Inspection Market by Future Market Insights.