Growth in traveler numbers post-pandemic continues to pressure global ports of entry to manage threats and screen people and goods efficiently. The continued risk of cross-border terrorism and crime creates a demand for more stringent passenger screening, apart from detecting contraband smuggling into nations. Screening and detection are among the top 3 investment areas in infrastructure upgrade programs running at global ports of entry. As the industry recovers from the impact of the COVID-19 pandemic, demand for screening and detection solutions is expected to recover as a result of restarting halted projects and procurement programs over the next 5 to 10 years. As more screening system innovation moves away from traditional x-ray technology, the market will witness disruption by new entrants over the next 10 years. Every company competing in the security space must address these imperatives proactively; failing to do so will almost certainly lead to stagnation or decline. Successful companies overcome the challenges posed by these imperatives and leverage them to drive innovation and growth.
Security screening and detection is a niche market with intense competition between a limited number of players. However, the market is expected to witness disruption by start-up companies with innovative technology. The industry will converge as many start-up organizations may become targets for mergers and acquisitions. Legacy systems with very low efficiency and efficacy are driving ports to transform digitally to enhance the security of infrastructure and cargo. An increase in cargo traffic is driving the need for digitally-enhanced systems for quick and accurate security processing. Ports of entry worldwide are in the early stages of digital transformation. Advanced AI-based screening and detection solutions, terrorist attacks, civil disruptions leading to mass migration and human trafficking, and the smuggling of illicit goods will drive the adoption of more advanced non-intrusive portable screening and detection systems.
Frost Radar™ is a robust analytical tool that evaluates companies across two key indices: Innovation and Growth. Our primary and secondary analysis span the entire value chain of each industry, identifying organizations that consistently develop new growth strategies based on a visionary understanding of the future and a proven ability to effectively address emerging challenges and opportunities. Frost Radar™ serves as a truly dynamic solution to continuously benchmark companies’ future growth potential with clear insight into their core strengths and weaknesses.
The document presents competitive profiles of each company based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in an industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned.
Source: Aravind Srimoolanathan
The Strategic Imperative
The Growth Environment
Market Segmentation
Frost Radar™: Security Screening and Detection Solutions Market
Frost Radar™: Competitive Environment
Frost Radar™: Competitive Environment (continued)
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Analogic Corporation
Astrophysics, Inc
Integrated Defense & Security Solutions (IDSS)
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NUCTECH
OSI Systems
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Teledyne Technologies
Unival Group
Westminster Group
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Frost Radar™: Benchmarking Future Growth Potential
Frost Radar™: Benchmarking Future Growth Potential
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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Growth Index
Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.
- Market Share (previous 3 years)
This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years. - Revenue Growth (previous 3 years)
This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™. - Growth Pipeline
This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities. - Vision and Strategy
This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision? - Sales and Marketing
This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.
Innovation Index
Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.
- INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals. - RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. - PRODUCT PORTFOLIO
This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue. - MEGATRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. - CUSTOMER ALIGNMENT
This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.
Significance of Being on the Frost Radar™
Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
- GROWTH POTENTIAL
Your organization has significant future growth potential, which makes it a Company to Action. - BEST PRACTICES
Your organization is well positioned to shape Growth Pipeline™ best practices in your industry. - COMPETITIVE INTENSITY
Your organization is one of the key drivers of competitive intensity in the growth environment. - CUSTOMER VALUE
Your organization has demonstrated the ability to significantly enhance its customer value proposition. - PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.
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| Deliverable Type | Frost Radar |
|---|---|
| Author | Aravind Srimoolanathan |
| Industries | Aerospace, Defence and Security |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | security solutions |
| Keyword 2 | security system solutions |
| Keyword 3 | Security Screening |
| Podcast | No |
| WIP Number | PD03-01-00-00-00 |
Frost Radar™: Security Screening and Detection Solutions, 2022
A Benchmarking System to Spark Companies to Action Innovation that Fuels New Deal Flow and Growth Pipelines
06-Dec-2022
Global
Frost Radar