Surging adoption of X-ray-based screening systems and explosive detection technologies by airport authorities across the world is identified to be the primary factor driving the growth of the global air cargo security screening systems market. Growing usage of advanced screening technologies and rapidly increasing infrastructure development of air cargo terminals and security checks at airports will continue to push revenue sales of air cargo security screening systems further. Rising security concerns, coupled with increasing implementation of new standards and regulations, are likely to favor market growth over the forecast period of 2020 to 2030.
The global air cargo security screening systems market is set to be valued at just over US$ 1.4 Bn by 2030-end, according to PMR analysis.
Key Takeaways from Air Cargo Security Screening Systems Market Study
- Adoption of explosives detection systems to remain high throughout the period of forecast.
- The narcotics detection technology segment is expected to witness significant growth in terms of revenue during the assessment period.
- The metal and other contraband detection segment is expected to witness a relatively high CAGR over the assessment period.
- North America, Europe, and Asia Pacific will remain key markets for air cargo security screening systems, globally.
“The COVID-19 outbreak has led to lockdowns and restrictions on trade and travel, which will hamper normal market growth in the short term,” says a PMR analyst.
Air Cargo Security Screening Systems Market: Competition Analysis
L-3 Communications Security and Detection Systems, Inc. is one of the key players operating in the global air cargo security screening systems market. The company is also one of the key defense contractors for the U.S. Government, and is currently focusing on strategic acquisitions and partnerships in order to enhance its global market presence. Another notable company in the competitive landscape is Rapiscan Systems, Inc. This player strives to sustain a strong global presence through cost-effective product offerings and consistent innovation. Smiths Detection Inc. is emphasizing on partnerships with private airlines. While Safran Identity & Security specializes in extensive air cargo screening products portfolio, Gilardoni S.P.A. is recognized for a broad range of customized security and screening solutions.
Some other key companies in the global air cargo security screening systems market place include Costruzioni Elettroniche, Industriali Automatismi S.p.A., Implant Sciences Corporation, American Science and Engineering, Inc., and Nuctech Company Limited.
Find More Valuable Insights on Air Cargo Security Screening Systems Market
Persistence Market Research puts forward an unbiased analysis of the global air cargo security screening systems market, providing historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. To understand the opportunities in the torque sensors market, the market is segmented on the basis of size of screening system, technology, and application, across five major regions of the world.
For additional insights on how growth of the air cargo security screening systems market will unfold over the next decade, write to the analyst at email@example.com
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Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.