Press release
Air Cargo Security & Screening Systems Market to Make Great Impact in Near Future by 2024
“Expanding at a compound annual growth rate of over 6%, the US$ 1.0 Bn air cargo security and screening systems market is likely to reach US$ 1.62 Bn by the end of 2024."
Research Findings: Key Market Drivers
Surging adoption of X-ray-based screening systems and explosive detection technologies by airport authorities is identified to be the primary factor driving the market growth.
Growing usage of advanced screening technologies and rapidly increasing infrastructure development of air cargo terminals and security checks at airports, will continue to push the revenue sales of air cargo security and screening systems further.
Rising security concerns, coupled with increasing implementation of new standards and regulations, are likely to favor the market growth over the forecast period.
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Research Findings: Key Market Players & Potential Growth Opportunities
L-3 Communications Security and Detection Systems, Inc. is one of the key players participating in the global air cargo security and screening systems market. The company is also one of the key defense contractors for the U.S. Government, and is currently focusing on strategic acquisitions and partnerships in order to enhance the global market presence.
Another notable company in the competitive landscape is Rapiscan Systems, Inc. This player strives to sustain a strong global presence through cost-effective product offerings and consistent innovation. Smiths Detection Inc. is emphasizing partnerships with private airlines.
While Safran Identity & Security specializes in extensive air cargo screening products portfolio, Gilardoni S.P.A. is recognized for a broad range of customized security and screening solutions.
Some of other key companies in the global air cargo security and screening systems marketplace, include Costruzioni Elettroniche, Industriali Automatismi S.p.A., Implant Sciences Corporation, American Science and Engineering, Inc., and Nuctech Company Limited.
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Global Air Cargo Security and Screening Systems Market: Segmentation
Depending on the size of screening systems, the global market for air cargo security and screening systems is segmented into:
Screening systems for small parcel
Screening systems for break & pallet cargo
Screening systems for oversized cargo
Break and pallet screening systems will remain the dominant segment, reaching a value of US$ 998 Mn by 2024 end, followed by small parcel segment. By 2024 end, the former will account for over 61% share of the market value.
By technology, the market is classified as:
Narcotics trace detectors
Non-computed tomography
Explosives detection systems
Explosives detection will continue to be the largest technology segment, closely followed by non-computed tomography segment. Both the segments will capture over 37% shares in 2024.
Based on the application, the market is segmented into:
Narcotics detection
Metal & contra band detection
Explosives detection
Explosives detection will remain the top application segment, followed by metal and contra band detection segment. Explosives detection is expected to witness a gain of a whopping 480 BPS during the assessed period.
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