Air Cargo Security & Screening Systems: Narcotics Detection Technology Segment Expected to Witness Significant Growth Till 2024

A latest research report titled as “Global Market Study on Air Cargo Security & Screening Systems: Explosive Detection Application Segment Projected to be the Most Attractive Segment throughout the Forecast Period” has been recently added to the vast portfolio of Market Research Reports Search Engine (MRRSE) online research offerings. This report is a professional and in-depth analysis on the present state and future prospect for the global market. It provides valuable information to the industry insiders, potential entrants or investors. It includes an exhaustive enquiry with the reliability of logic and the comprehensiveness of contents.

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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.

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.

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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.

Market Attractiveness Index

In terms of revenue, the explosive detection segment is projected to be the most attractive segment in the global air cargo security and screening systems market during the forecast period. However, the metal and contra band detection segment is expected to register high Y-o-Y growth rates throughout the period of forecast. In terms of value, this segment is expected to expand at a CAGR of 6.7% during the forecast period. The explosive detection segment was estimated to be valued at more than US$ 350 Mn by 2016 end and is expected to remain dominant in terms of revenue throughout the assessment period.

Trends by Application

Increasing Usage of Security Systems for Explosive and Narcotic Trace Detection

Currently, air cargo security and screening systems are primarily used for detecting explosives and narcotics. Airport authorities worldwide have implemented advanced security systems to detect explosives in cargo and to trace narcotics in large and small pallets of cargo. In the recent past, rising risk of attacks through explosives has led to increasing adoption of technologies such as X-rays by airport authorities to reduce chances of such attacks. Moreover, rising usage of air cargo facilities for transportation of goods in shorter time spans is leading to increasing usage of such technologies for screening cargo at airports. Thus, adoption of bomb-detecting technologies along with screening devices has increased considerably across the globe in the recent past. In Europe for instance, European legislature has enforced 100% cargo screening on all passenger flights from Europe.

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