Press release
Cargo Scanning Equipment Market on Track for Strong Growth, Estimated to Grow at 7.6% CAGR Through 2029
Cargo Scanning Equipment
What Is the Expected CAGR for the Cargo Scanning Equipment Market Through 2025?
There has been substantial growth in the cargo scanning equipment market size in recent years. An increase from $3.79 billion in 2024 to $4.08 billion in 2025 is expected, implying a compound annual growth rate (CAGR) of 7.8%. The expansion in the past era can be credited to enhanced global trade volumes, increased security issues, strict border protection and customs rules, a spike in illicit trafficking activities, and a mounting demand for non-invasive inspection.
What's the Projected Size of the Global Cargo Scanning Equipment Market by 2029?
In the forthcoming years, substantial expansion is predicted in the cargo scanning equipment market, with its valuation expected to reach $5.48 billion in 2029, demonstrating a compound annual growth rate (CAGR) of 7.6%. This projected increase during the forecast period can be explained by factors such as the growth of e-commerce and logistics, heightened need for effective supply chain management, adoption of radiation detection technologies, and the persistent rise in international shipping. The upsurge in the usage of portable and handheld scanning instruments is also a contributing factor. Upcoming trends include development in imaging technologies and advancements in scanning equipment, application of artificial intelligence in scanning systems, incorporation of blockchain in supply, and of machine learning for detecting irregularities in the security of the supply chain.
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Top Growth Drivers in the Cargo Scanning Equipment Industry: What's Accelerating the Market?
The expansion of global commerce is predicted to fuel the growth of the cargo scanning equipment market. Global trade encompasses businesses in different countries buying and selling goods and services, and the exchange of these goods and services between nations through import and export. The importance of cargo scanning equipment in facilitating international trade cannot be overstated - it ensures the security of the supply chain, detects illicit activities, and aids in the smooth running of legal trade. Additionally, it helps customs officials to secure borders and mitigate risks associated with trade. For instance, Eurostat, the statistical wing of the European Union based in Luxembourg, reported in June 2023 that 854.3 million metric tons of goods were processed at EU ports in the second quarter of 2021. This figure rose to 873.05 million metric tons for the same period in 2022. Similarly, the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based organization fostering global trade, showed in a June 2023 report that the international trade in goods saw a 1.9% increase in the first quarter of 2023 compared to the previous quarter, contributing nearly $100 billion more. Consequently, the acceleration of international trade will boost the cargo scanning equipment market.
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What Trends Will Shape the Cargo Scanning Equipment Market Through 2029 and Beyond?
In the cargo scanning equipment market, the emphasis on product innovations is an emerging trend. Major players in this market are concentrating on creating innovative tools to solidify their position. For instance, Smiths Detection Group Ltd., a prominent UK-based company specializing in advanced threat detection and identification solutions, launched the HI-SCAN 10080 XCT advanced X-ray computed tomography system in March 2022. This product, designed for hold baggage and air cargo, has received approval from the U.S. Transportation Security Administration's Air Cargo Screening Technology List (ACSTL). The HI-SCAN 10080 XCT boasts a dual-view dual-energy X-ray line scanner and sophisticated 3D volumetric CT imaging and reconstruction, enhancing the speed, efficiency, and safety of hold luggage and air cargo screening procedures. This technology has a 0.5m/sec (98.5ft/min) belt speed and a large 107 x 81 cm (42.1 x 31.9in) rectangular tunnel. Its design allows incorporation into comprehensive automated and networked luggage and materials handling systems, enabling operators to examine 2,500 packages per hour efficiently.
What Are the Main Segments in the Cargo Scanning Equipment Market?
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 Top Companies are Driving Growth in the Cargo Scanning Equipment Market?
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.
Which Regions Will Dominate the Cargo Scanning Equipment Market Through 2029?
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
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