Dec 20, 2019 (AB Digital via COMTEX) — Air Cargo Market Insight :
Market Research Future Reveals That The Global Air Cargo Security Screening Market Is Anticipated To Surge At A CAGR Over 6% In The Forecast Period 2017-2023.
The security checks for cargo shipments are carried out traditionally through physical inspection or by the canine method that involves threat detection dogs. However, along with the surge in global air cargo traffic, there is an improved need for adequate air cargo security and screening systems. The adoption of new refined air cargo screening technologies has also increased, which are termed t[o be more efficient and effective in screening a large volume of cargo. These factors tend to motivate the market’s growth over the assessment period.
Air Cargo Market Key Players :
The well-known players in this market are 3DX-RAY (U.K), American Science and Engineering (U.S.), L-3 Security & Detection Systems (U.S.), Morpho Detection (U.K), Rapiscan Systems (U.S.), Armstrong Monitoring (Canada), Astrophysics (U.S.), CEIA (U.S.), Autoclear (USA), and Gilardoni (Italy).
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Market Drivers & Trends :
As the advanced air cargo screening systems offer enhanced threat detection capability. Key screening systems that are currently in use which include screening systems based on X-ray, ETD, and EDS technologies. These factors are continuously igniting the market to grow so that it could gain the maximum valuations over the forecast period.
Along with the amplified air cargo volume, dedicated air cargo terminals are being built in developed countries to expedite the air cargo screening process and handle security threats effectively. On the other hand, new cargo terminals are increasingly being used with the help of the advanced air cargo screening systems, thus triggering the market to expand.
Furthermore, new standards and recommended practices by the ICAO that requires member nations to create a system to secure the chain of air cargo supply that is resulting in the need for sophisticated air cargo security and screening systems, thus giving a thrust to the market to explore more. Also, the global air cargo industry shows a steady growth trend. To revise the growth, the air cargo industry is investing in well-organized air cargo screening processes and facilities. The efficient air cargo screening systems are one of the significant factors that help to enhance the screening efficiency and reduce security threats. Consequently, there is an augmented implementation and use of air cargo security and screening systems globally. With a boost in the air cargo traffic and security risks, stakeholders are under the escalating pressure of implementing state-of-the-art technologies to enhance screening and surveillance with the help of Neutron and X-ray radiography-based technologies. These factors are actively prospering the market to expand wisely throughout the growth period.
Air Cargo Market Segmentation :
The global air cargo security screening market has been segmented into the system and cargo type.
By the mode of the system, the market splits into ETD—Explosive Trade Detection, X-Ray, EDS—Explosive Detection System.
By the mode of cargo type, the market splits into heavy cargo, dangerous goods, live animals, human remains, and many others.
Air Cargo Market Regional Outlook :
Depending on the geographical analysis, the aircraft cabin lighting market covers the main regions of North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.
Among these, North America is a prime market for air cargo security and screening systems as large volume of air cargo traffic beside stringent air cargo security laws are observed mainly in the U.S. The air cargo security and screening systems market in this region is a developed market with the presence of substantial domestic air cargo traffic volume. South America is a quickly growing market which marks the region as a significant growth avenue for the air cargo security screening systems market.
Europe is a mature market where its air cargo traffic likely to nurture at a standard annual rate of 3.5% until 2023. The Middle East & Africa are hurriedly growing markets in the EMEA region. The Middle East is also witnessing increasing investment in infrastructure development, targeting new airports and terminals in the main airport hubs. Middle Eastern air cargo carriers have maintained strong performance and observed improved air cargo volume.
In the Asia Pacific region, the market is highly competitive as there is intense competition amongst the existing vendors, by costing, product quality, reliability, and market share. Therefore, to survive and thrive in such an intensely competitive environment, it is decisive for the vendors to offer cost-effective and high-quality air cargo screening systems.
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