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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:
Key Findings of the Report:
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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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