- Air cargo screening systems are needed to support regulators and strengthen supply chain security.
- Global air cargo screening system market is estimated to grow at a CAGR of around 6% over the forecast period 2019-2027.
- High installation and maintenance costs of security systems are some of the restraining factors.
The increase in volumes of cargo transported and rising security threats raises high demand for increased- cargo inspections, physical security of air cargo facilities and stricter controls over accessing operation areas.
Research Nester released a report titled “Air Cargo Screening System Market Outlook: Industry Insights & Opportunity Assessment 2019–2027” which includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The increase in volumes of cargo transportation and rising security threats such as explosives, potential hijackings, smuggling and theft among insider threats are anticipated to significantly drive the growth of air cargo screening system market. Additionally, to enhance inspections, physical security of air cargo facilities, stricter controls over access to operation areas and implementation of latest screening technology are some of the notable factors that are increasing the usage of screening systems, thereby driving the demand for air cargo screening systems. The global air cargo screening system market is estimated to grow at a CAGR of around 6% over the forecast period, i.e., 2019-2027.
Geographically, the global air cargo screening market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. Among these regions, the market in Asia- Pacific is anticipated to grow at an incremental rate over the forecast period, owing to rising economies coupled with increasing investments in manufacturing sector and airports in the region. Market in North America holds largest share on account of its developed economy and huge domestic air cargo traffic volumes. Furthermore, the market in Europe is estimated to grow on the back of increased focus on technological advancements and operational efficiencies in cargo screening systems.
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The air cargo screening market is segmented by size into small cargo, brick pallet and oversized cargo; by technology into non-CT X-Ray, ETD (Explosive Trace Detection) and EDS (Explosive Detection Systems); by application into narcotics, explosive, and metal and contraband detection. The presence of large number of security layers and growing implementation of latest screening technology is estimated to drive the demand for X-Ray screening systems around the globe.
According to data provided by IATA (International Air Transport Association), 59.9 million metric tonnes of goods worth $5.6 trillion was transported by airlines globally. Increasing volumes of cargo on the back of rising ecommerce industry, and rising infrastructure development pertaining to air cargo terminals and security checks at airport are anticipated to favor the market growth during the forecast period
However, the high installation and maintenance costs of security systems are some of the restraining factors that are estimated to negatively affect the market growth over the forecast period.
Prominent Key Players Dominating the Market Growth
This report also provides existing competitive scenario of some of the key players of the global air cargo screening system market which includes profiling of OSI Systems Company, Smiths Detection Group Ltd, Teledyne e2v (UK) Ltd., ICTS Europe S.A, Astrophysics Inc., L3 Security & Detection Systems, Gilardoni S.p.A., Leidos, Autoclear LLC and VOTI Detection Inc.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Global Air Cargo Screening System Market Outlook 2027”, analyses the overall air cargo screening system industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global air cargo screening system market in the near future.