Air Cargo Security Screening Systems Market
Global Market Study on Air Cargo Security Screening Systems: Increasing Usage of Security Systems for Explosive and Narcotic Detection Aiding Market Growth
Vendors of screening systems are offering advanced technology with innovative designs, which is the main factor expected to fuel the demand for air cargo security screening systems, globally.
Increasing threat of terror-related activities has urged airport authorities across the world to adopt explosive detection technology, and this is expected to drive the growth of explosive detection applications over the assessment period of 2020 to 2030. The global air cargo security screening systems market is projected to be valued at over US$ 1.4 Bn by the end of 2030.
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- L-3 Communications Security & detection system
- Nuctech Company
- Gilardoni S.P.A.
- Costruzioni Elettroniche Industriali Automatismi S.p.A.
- Smiths Detection
- Rapiscan System
- Implant Sciences Corporation
- Safran Identity and Security SAS
- American Science and Engineering, Inc.
Air Cargo Security Screening Systems Market Trends
Currently, air cargo security screening systems are primarily used for detecting explosives and narcotics. Airport authorities around the world have implemented advanced security systems to detect explosives in cargo and to trace narcotics in large and small pallets of cargo. In the recent past, rising risk of attacks through explosives has led to increasing adoption of technologies such as X-rays by airport authorities to reduce chances of such attacks.
Moreover, rising usage of air cargo facilities for transportation of goods in shorter time spans is leading to increasing usage of such technologies for screening cargo at airports. Thus, adoption of bomb-detecting technologies along with screening devices has increased considerably across the globe in the recent past. In Europe for instance, European legislature has enforced 100% cargo screening on all passenger flights from Europe.
Several governments and airport authorities are collectively taking efforts to develop separate, dedicated air cargo terminals for enhanced security, which will create lucrative opportunities for companies in the air cargo security screening systems market in near future. In addition, strategic supply chain partnerships and IATA-collaborations will potentially help companies grow sustainably.
Moreover, elevated investments by aviation authorities to install advanced security screening systems are likely to play a pivotal role in the growth of top companies operating in the air cargo security screening systems market space.
Persistence Market Research identifies that partnerships between custom authorities and trading communities of different countries, in a bid to manage aviation security risks, will significantly contribute to the growth of key global as well as domestic players in the air cargo security screening systems market space.
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Regional Outlook of Air Cargo Security Screening Systems
North America holds the largest air cargo security screening systems market share by far, followed by the Asia Pacific and Europe markets. However, over the course of the forecast period, the Middle East & Africa and Latin America markets, which are small right now, will expand at higher CAGRs than the rest. Nevertheless, North America, Asia, and Europe will still offer the most opportunities to market stakeholders through 2030.
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COVID-19 Impact on Air Cargo Security Screening Systems
Due to the COVID-19 pandemic, social distancing initiatives and bans on travel have resulted in declining growth rates in transportation infrastructure and commercial security. With nationwide lockdowns in effect, citizens across the world are avoiding long distance travel and staying indoors as much as possible.
This factor is restricting the adoption of air cargo security screening systems across the world, thereby hampering market growth, at least for the short term.
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The global air cargo security screening systems market will experience sluggish growth over the forecast period of 2020 to 2030, to be valued just over US$ 1.4 Bn by the end of the said period. Market players can look to Asia, North America, and Europe for increasing their market shares and profits. Demand for explosive and narcotics detection systems will be high over the coming years.
Air Cargo Security Screening Systems Market: Segmentation
PMR’s research study on the global air cargo security screening systems market offers a detailed market taxonomy, wherein, key segments have been discussed in detail. The segmentation of the air cargo security screening systems market has been offered on the basis of size of screening system, technology, application, and region. Every segment has been analyzed in detail and data pertaining to the growth of each segment has been included in the study.
Air Cargo Security Screening Systems Market: Key Questions Answered in Report
The research study on the air cargo security screening systems market offers inclusive insights about the growth of the market in the most comprehensible manner for the better understanding of users. Insights offered in the air cargo security screening systems market report answer some of the most salient questions that assist stakeholders in gauging all the emerging possibilities.
- How has the rapidly changing business environment turned into a major growth engine for the air cargo security screening systems market?
- What are the underlying macroeconomic factors impacting the growth of the air cargo security screening systems market?
- What are the key trends that are constantly shaping the growth of the air cargo security screening systems market?
- Which are the prominent regions offering plentiful opportunities for the air cargo security screening systems market?
- What are the key differential strategies adopted by key players to command a significant chunk of the global market share?
- How is the COVID-19 pandemic impacting the global air cargo security screening systems market?