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.
Get Your Cargo Scanning Equipment Market Report Here:
https://www.thebusinessresearchcompany.com/report/cargo-scanning-equipment-global-market-report
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.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12705&type=smp
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
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12705
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.
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=12705&type=smp
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.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Cargo Scanning Equipment Market to Reach $5.48 Billion by 2029, Growing at 8% CAGR here
News-ID: 3895601 • Views: …
More Releases from The Business Research Company
Segment Evaluation and Major Growth Areas in the Personalized Testing and Supple …
The personalized testing and supplements sector is gaining remarkable traction, driven by advancements in technology and a rising consumer focus on tailored health solutions. As more individuals seek customized wellness options, this market is set to experience substantial expansion in the coming years. Here's an in-depth look at its current valuation, key players, significant trends, and the main market segments shaping its future.
Market Valuation and Expansion Forecast for Personalized Testing…
Top Players and Market Competition in the Skin Microbiome Industry
The skin microbiome market is emerging as a significant area of interest due to growing awareness about the critical role of skin health and innovative skincare technologies. As research advances and consumer preferences shift towards more natural and science-backed products, this market is set to undergo substantial growth. Let's explore the current market size, key players, driving factors, and upcoming trends shaping the skin microbiome industry.
Projected Expansion in the Skin…
Key Strategic Developments and Emerging Changes Shaping the Upadacitinib Market …
The upadacitinib market is poised for significant expansion over the coming years, driven by advances in treatment options and increasing awareness of autoimmune diseases. This report delves into the market's current size, key drivers, major players, and the emerging trends shaping its future trajectory.
Steady Growth Expected in Upadacitinib Market Size Through 2029
The market for upadacitinib is projected to reach $2.54 billion by 2029, growing at a robust compound annual…
Analysis of Key Market Segments Driving the Alzheimer's Disease Diagnostic Marke …
The Alzheimer's disease diagnostic sector is rapidly evolving as advancements in technology and healthcare infrastructure open new possibilities for early detection and personalized treatment. With rising awareness and innovative approaches, this market is poised for significant growth in the coming years. Let's explore the current market size, key drivers, leading companies, and emerging trends that are shaping this critical healthcare field.
Projected Market Size and Growth Trends in Alzheimer's Disease Diagnostics…
More Releases for Cargo
Air Cargo Market Giants Spending Is Going To Boom | Singapore Airlines Cargo, Ca …
HTF MI recently introduced Global Air Cargo Market study with 143+ pages in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status (2024-2032). The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence. Some key players from the complete study are FedEx, UPS, DHL, Emirates SkyCargo, Qatar Airways Cargo, Lufthansa Cargo, Cargolux, Singapore Airlines…
Cargo Shipping Market Liquid Cargo, Dry Cargo, General Cargo By Cargo Type Indus …
Cargo Shipping Market by Cargo Type (Liquid Cargo, Dry Cargo, General Cargo), by Ship Type (Bulk Carriers, General Cargo Ship, Container Ship, Tanker, Reefer Ship, Others), by Industry Type (Food and Beverages, Manufacturing, Retail, Oil and gas, Automotive, Pharmaceutical, Electrical and Electronics, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031. The global cargo shipping market size was valued at $2.2 trillion in 2021, and is projected to reach $4.2 trillion…
Air Cargo: Market 2022 Is Booming Worldwide | DHL Aviation, Lufthansa Cargo, Sin …
The technique applied to derive the market share of the Air Cargo Market 2022 built on the end-user sector and market area is bottom-up forecasting. The key sources of information consist of several Air Cargo industry professionals, suppliers, manufacturers, associations along with business distributions. The research report defines exclusive benefits of the various market size, shares, and the patent industry. The key aim of the Air Cargo research report is…
Air Cargo Market| Key Players - Cathay Pacific Cargo, FedEx Express, UPS Airline …
The air cargo market report provides analysis for the period 2015–2025, wherein the period from 2017 to 2025 is the forecast period and 2016 is the base year. The report covers all the major trends and services playing a key role in air cargo market growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence market’s growth during the said period. The study provides…
Global Air Cargo Market | air cargo carriers,air cargo world,air cargo 2019,air …
In order to study the various trends and patterns prevailing in the concerned market, Market Research Reports Search Engine (MRRSE) has included a new report titled “Air Cargo Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future.
Get Report Sample Copy on Air Cargo Market @ https://www.mrrse.com/sample/4096
The air cargo market report…
Global Air Cargo Market | Cathay Pacific Cargo, FedEx Express, UPS Airlines, DHL …
In order to study the various trends and patterns prevailing in the concerned market, Market Research Reports Search Engine (MRRSE) has included a new report titled “Air Cargo Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future.
Get Report Sample Copy @ https://www.mrrse.com/sample/4096
The air cargo market report provides analysis for the…
