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Global Air Cargo Security Screening Market to Grow at a CAGR of 5.20% During 2022-2027, Aided by the Rising Issues of Terrorism and Growing Efforts to Curb Illegal Trade Worldwide

According to a new report by EMR titled, ‘Global Air Cargo Security Screening Market Report and Forecast 2022-2027’, the market attained a value of nearly USD 1 billion in 2021. The industry is further expected to grow at a CAGR of 5.20% between 2022 and 2027 to reach USD 1.3 billion by 2027.

The air cargo security screening industry is driven by the rising concerns pertaining to the growing incidences of terrorism and illegal trade activities across the borders such as smuggling of drugs, weapons, and explosives. In addition, the rising cases of human trafficking through airports is a matter of great concern worldwide. These factors are projected to bolster the deployment of air cargo security screening services across airports in the forecast period. Furthermore, the growing deployment of explosive trace detection devices at airports is likely to supplement the market growth.

In May 2020, Leidos Inc. (NYSE: LDOS) announced the complete acquisition of Security Detection and Automation business of L3Harris for around $ 1 billion in cash in a bid to create a comprehensive, global security and detection portfolio.

In terms of region, North America is likely to account for a significant share in the market and is anticipated to witness a considerable growth in the forecast period. The market in the region is driven by the stringent government regulations in countries like the United States and Canada. The technological advancements in the region aimed towards bolstering airport security are anticipated to further propel the market growth.

Market Breakup by Cargo Type, System, and Region:

  • The market is segmented based on cargo type into heavy cargo, dangerous goods, live animals, and human remains, among others.
  • Based on system, the market is divided into X-Ray, explosive detection system (EDS), and explosive trace detection (ETD).
  • Region-wise, the global market for air cargo security screening can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for air cargo security screening is being driven by the growing adoption of efficient security measures at airports, owing to the growing concerns of terrorism.
  • The technological advancements in the airport security system, coupled with the growing adoption of advanced explosive trace detection devices are anticipated to provide a boost to the market in the forecast period.
  • The increasing international trade of goods and materials is likely to propel the risk of infiltration of illegal materials such as drugs, which is estimated to provide impetus to the market.
  • The market is projected to be further aided by the rising travel and tourism industry, which is estimated to bolster the need for improved security at airports.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for air cargo security screening for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the cargo types, systems, and regions of air cargo security screening.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global air cargo security screening market are Rapiscan Systems, Astrophysics Inc., Autoclear, LLC, Leidos, Inc., Smiths Detection Group Ltd. and Gilardoni S.p.A., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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