Air Cargo Security & Screening Systems Market to receive overwhelming hike in Revenues by 2024

“Air Cargo Security & Screening Systems Market: Global Industry Analysis and Forecast, 2016–2024” is a recent market report outlook published by Persistence Market Research that examines the global air cargo security and screening systems market for an eight-year period, 2016-2024. Persistence Market Research provides key insights into market dynamics, segmentation, regional outlook, and key players, delivering key market value estimations.

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Vendors of screening systems are offering advanced technology with innovative designs, which is a factor expected to fuel demand for air cargo screening systems globally

The global air cargo security and screening systems market was valued at more than US$ 900 Mn in 2015 and is expected to reach more than US$ 1,600 Mn by 2024 end. In terms of value, the global air cargo security and screening systems market is expected to exhibit a CAGR of 6.1% over the forecast period. The global air cargo security and screening systems market is expected to create incremental opportunity of nearly US$ 700 Mn between 2015 and 2024.

Global Air Cargo Security and Screening Systems Market Forecast, By Application

Narcotics detection technology segment is expected to witness significant growth in terms of revenue during the assessment period

Revenue generated from the narcotics detection application segment is expected to exhibit a CAGR of 5.0% over the forecast period. The narcotics detection application segment is expected to create incremental opportunity of nearly US$ 140 Mn between 2015 and 2024.

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Increasing threat of terror-related activates has urged airport authorities to adopt explosive detection technology and this is expected to drive growth of the explosive detection application segment over the assessment period

The explosive detection segment of the global air cargo security and screening systems market was valued at more than US$ 350 Mn in 2015 and is expected to reach nearly US$ 700 Mn by 2024 end. Revenue generated from the explosive detection application segment is expected to register a CAGR of 6.2% over the forecast period. The explosive detection application segment is expected to create incremental opportunity of nearly US$ 300 Mn between 2015 and 2024.

Metal and other contra band detection segment is expected to witness relatively high CAGR over the assessment period

The metal and contra band detection segment of the global air cargo security and screening systems market was valued at more than US$ 300 Mn in 2015 and is expected to reach nearly US$ 600 Mn by 2024 end. Revenue generated from the metal and contra band detection application segment is expected to exhibit a CAGR of 6.7% over the forecast period. The metal and contra band detection application segment is expected to create incremental opportunity of nearly US$ 300 Mn between 2015 and 2024.

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