Press release
Global Cargo Scanning Equipment Market to Reach $5.48 Billion by 2029, Growing at 8% CAGR
Cargo Scanning Equipment Market
Progress in global commerce is projected to amplify the expansion of the cargo scanning equipment market. Global trade involves the procurement and sale of products and services among businesses across different countries and the exchange of commodities and services from one country to another through imports and exports. The critical role of cargo scanning equipment in sustaining supply chain security, detecting illicit activities, and facilitating the seamless flow of lawful trade cannot be overemphasized. Its use helps customs officials uphold border security and curtail trade-associated risks. According to data unveiled by Eurostat, a Luxembourg-based European Union statistics agency in June 2023, EU ports processed 854.3 million metric tons of goods in the second quarter of 2021. This increased to 873.05 million metric tons during the same period in 2022. In addition, a report released by the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based organization advocating for international trade, noted in June 2023 that global trade in goods rose by 1.9% in the initial quarter of 2023 relative to the preceding quarter, contributing nearly $100 billion. Consequently, the surge in international trade is anticipated to stimulate the cargo scanning equipment market.
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How will the growth rate of the cargo scanning equipment market shape industry trends by 2034?
The size of the cargo scanning equipment market has seen significant expansion in the past few years. It is projected to rise from $3.79 billion in 2024 to $4.08 billion in 2025, marking a compound annual growth rate (CAGR) of 7.8%. The historical growth of this sector can be traced back to factors such as heightened global trade activities, steep security issues, rigid customs and border control rules, an increase in prohibited trafficking activities, and a growing demand for non-intrusive inspection.
Strong expansion is anticipated in the cargo scanning equipment market in the upcoming years, with an estimation of its value reaching $5.48 billion by 2029, reflecting a compound annual growth rate (CAGR) of 7.6%. The projected advancement during the forecast period can be credited to the broadening of e-commerce and logistics, the necessity for competent supply chain management, the implementation of radiation detection technologies, ongoing augmentation in international shipping and the uptake of portable and handheld scanning devices. The projection period also sees emerging trends such as progress in imaging technologies, technical improvements in scanning equipment, the incorporation of artificial intelligence in scanning systems, the amalgamation of blockchain for supply and the application of machine learning for anomaly detection chain security.
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What trends are poised to drive the future success of the cargo scanning equipment market?
One of the prevailing trends in the cargo scanning equipment market is extensive product innovation. Many notable companies in this specific market are prioritizing the creation of novel solutions to enhance their market standing. To illustrate, Smiths Detection Group Ltd., a UK-based entity specializing in the design and production of cutting-edge threat detection and identification solutions, introduced the HI-SCAN 10080 XCT advanced X-ray computed tomography system in March 2022. This system, designed for hold baggage and air cargo, earned recognition on the U.S. Transportation Security Administration's Air Cargo Screening Technology List (ACSTL). The HI-SCAN 10080 XCT features a dual-view dual-energy X-ray line scanner and comprehensive 3D volumetric computed tomography (CT) imaging and reconstruction for an improved efficiency, speed, and safety in air cargo and hold luggage screening. Its belt speed measures 0.5m/sec (98.5ft/min) and its tunnel dimensions are 107 x 81 cm (42.1 x 31.9 in). This technology is designed for integration in fully automated material handling systems and networked luggage, and it can effectively scan 2,500 parcels every hour.
Which primary segments of the cargo scanning equipment market are driving growth and industry transformations?
The cargo scanning equipment market covered in this report is segmented -
1) By Equipment Type: Narcotics Trace Detectors, Non-Computed Tomography, X-Ray Scanners, Explosive Trace Detectors (ETDs), Radiation Detectors, Other Equipment Type
2) By Cargo Size: Small Parcels, Break Pallet Cargo, Oversized Cargo
3) By End-User: Airports, Railway Station, Border Control, Logistics And Transportation, Industrial And Manufacturing Facilities, Others End-Users
Subsegments:
1) By Narcotics Trace Detectors: Ion Mobility Spectrometers, Mass Spectrometers
2) By Non-Computed Tomography: Pulsed Fast Neutron Analysis (PFNA), Thermal Neutron Activation (TNA)
3) By X-Ray Scanners: 2D X-Ray Scanners, 3D X-Ray Scanners
4) By Explosive Trace Detectors (ETDs): Ion Mobility Spectrometers, Gas Chromatography Systems
5) By Radiation Detectors: Gamma Detectors, Neutron Detectors
6) By Other Equipment Type: Microwave Scanners, Advanced Imaging Technology (AIT) Systems
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Which geographical regions are pioneering growth in the cargo scanning equipment market?
North America was the largest region in the cargo scanning equipment market in 2024. The regions covered in the cargo scanning equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the cargo scanning equipment market landscape?
Major companies operating in the cargo scanning equipment market include Leidos Holdings Inc., Elbit Systems Ltd., Teledyne Technologies, IDEMIA, Smiths Detection Group Ltd., OSI Systems Inc., Rapiscan System Inc., Nuctech Company Limited, Analogic Corporation, Astrophysics Inc., L3 Security & Detection Systems Inc., ADANI Systems Inc., ICTS International N.V., Autoclear LLC, Metrasens Ltd., CEIA USA Ltd., MB Telecom Ltd. SRL, Kromek Group, VOTI Detection Inc., Westminster International Ltd. (Westminster Group), Vidisco Ltd., Scanna MSC Ltd., Gilardoni S.p.A., Todd Research Ltd., LIXI Inc.
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What Is Covered In The Cargo Scanning Equipment Global Market Report?
• Market Size Forecast: Examine the cargo scanning equipment market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the cargo scanning equipment market for a structured understanding.
• Key Players Overview: Analyze major players in the cargo scanning equipment market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the cargo scanning equipment market.
• Segment Contributions: Evaluate how different segments drive overall growth in the cargo scanning equipment market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the cargo scanning equipment market.
• Industry Challenges: Identify potential risks and obstacles affecting the cargo scanning equipment market.
• Competitive Landscape: Review strategic developments in the cargo scanning equipment market, including expansions, agreements, and new product launches.
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