Air Cargo Security Screening Market 2019 – Global and Regional Size, Share, Trends Analysis Focused on Top Industry Key Players Like 3DX-RAY, American Science and Engineering, L-3 Security & Detection Systems, Morpho Detection, Rapiscan Systems
Air Cargo Security Screening Market Overview:
Advancement in technology is benefiting various sectors with sophistication and automation of multiple manual processes. Air cargo security screening is one such advanced system that provides thorough security check and inspection without any human interference. According to the report that has been published by Market Research Future (MRFR), the Global Air Cargo Security Screening Market is anticipated to expand at a noteworthy CAGR of 6% during the forecast period of 2017-2023.
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With the upsurge in air cargo traffic, the need for faster and efficient functioning of security check process is increasing. The rapid adoption of sophisticated screening technology which is highly efficient in screening a large volume of cargo is fueling the expansion of the Global Air Cargo Security Screening Market.
The air cargo industry is at high risk of terrorist attacks. Increasing terrorist activities is inducing high demand for security screening systems with enhanced threat detection capabilities, which in turn is fueling the growth of the Global Air Cargo Security Screening Market. New rules and initiatives introduced by various countries and Global organizations to secure the air cargo supply chain are some of the major factors leading to the expansion of the Global Air Cargo Security Screening Market.
Rapid adoption of advanced technology to automate the security screening process is impacting positively on the growth of the Global Air Cargo Security Screening Market. Current developments in neutron and X-ray radiography-based technologies are likely to fuel the expansion of the Global Air Cargo Security Screening Market during the forecast period.
Key Players In Air Cargo Security Screening Market:
The key players in this market are:
• 3DX-RAY (U.K)
• American Science and Engineering (U.S.)
• L-3 Security & Detection Systems (U.S.)
• Morpho Detection (U.K)
• Rapiscan Systems (U.S.)
• Armstrong Monitoring (Canada)
• Astrophysics (U.S.)
• CEIA (U.S.)
• Autoclear (USA)
• Gilardoni (Italy)
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Air Cargo Security Screening Market Regional Analysis:
Large volume of air cargo traffic, along with very strict air cargo security laws, mainly in the U.S., makes the Americas a prime market for air cargo security and screening systems. In terms of air cargo traffic, air cargo security and screening systems market in Americas (particularly North America) is a developed market with the existence of huge domestic air cargo traffic volume. This along with the strict air cargo security and screening requirements, mainly in the U.S., drive the demand for air cargo screening systems.
South America is a rapidly growing market (in comparison to North America), which positions the region as a considerable growth venue for the air cargo security and screening systems market in the Americas.
Europe is a developed and mature market, with its air cargo traffic projected to grow at an average annual rate of 3.5% until 2023. The Middle East & Africa are rapidly growing markets in the EMEA region. Air cargo traffic (RTKs) will likely grow at 5.9% in the Middle East and at 6.1% in Africa, respectively, until 2023.
The Middle East is also witnessing growing investment in infrastructure development (including air cargo security screening systems), targeting new airports and terminals in the region's main airport hubs. Middle Eastern air cargo carriers have maintained strong performance and witnessed increased air cargo volume. The Middle East's efficient air cargo hubs have also emerged as international platforms for long-haul cargo shipments.
The market is highly competitive. There is strong competition among existing vendors, in terms of cost, product quality, reliability, and market share. To survive and succeed in such an intensely competitive environment, it is crucial for the vendors to provide cost-effective and high-quality air cargo screening systems.
The increased level of threat regarding air cargo shipments Globally necessitates the need for reliable air cargo security and screening systems. Furthermore, air cargo regulation mandating 100% air cargo screening in the U.S. domestically, as well as the possibility of similar regulations for Global trade partners, has also catalyzed the market.
• Distributor & Supplier companies
• Consultants and Investment Bankers
• Government as well as Independent Regulatory Authorities
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