Market Synopsis:
Advancement in technology is benefiting various sectors with sophistication and automation of multiple manual processes. Air cargo security screening is one such advanced system that provides thorough security check and inspection without any human interference. According to the report that has been published by Market Research Future (MRFR), the global air cargo security screening market is anticipated to expand at a noteworthy CAGR of 6% during the forecast period of 2017-2023.
With the upsurge in air cargo traffic, the need for faster and efficient functioning of security check process is increasing. The rapid adoption of sophisticated screening technology which is highly efficient in screening a large volume of cargo is fueling the expansion of the global air cargo security screening market.
The air cargo industry is at high risk of terrorist attacks. Increasing terrorist activities is inducing high demand for security screening systems with enhanced threat detection capabilities, which in turn is fueling the growth of the global air cargo security screening market. New rules and initiatives introduced by various countries and global organizations to secure the air cargo supply chain are some of the major factors leading to the expansion of the global air cargo security screening market.
Rapid adoption of advanced technology to automate the security screening process is impacting positively on the growth of the global air cargo security screening market. Current developments in neutron and X-ray radiography-based technologies are likely to fuel the expansion of the global air cargo security screening market during the forecast period.
Market Segmentation:
The global air cargo security screening market has been segmented on the basis of system and cargo type. Based on system, the air cargo security screening market is segmented into explosive trace detection (ETD), X-ray and explosive detection system (EDS). The X-ray system segment accounts for the largest share in the global air cargo security screening market owing to the high demand for implementation of modern and advanced screening systems.
Based on cargo type, the air cargo security screening market is segmented into heavy cargo, dangerous goods, live animals, human remains and others.
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Regional Analysis:
The global air cargo security screening market is geographically segmented into four major regions such as Americas, Asia Pacific, Europe and the Middle East and Africa. The Americas account for the primary share in the global air cargo security screening market owing to the stringent regulatory framework for air cargo security and large volume of air cargo traffic. In the Americas, the air cargo security screening market in the south America region is growing at a faster rate as compared to the North America region.
The air cargo traffic in the Europe region is growing every year at a high rate, which is inducing demand for advanced air cargo security screening systems in this region, resulting in the expansion of air cargo security screening market in this region. Increasing investment and infrastructural development in new airports and terminals are driving the growth of the air cargo security screening market in the rest of the world.
Competitive Analysis:
Increasing research expenditure for development of advanced screening systems is increasing competition among the players in the global air cargo security screening market. The strategic mergers and acquisitions are aiding the players to gain a competitive edge in the global air cargo security screening market.
In May 2018, VOTI has announced the approval for VOTI XR3D-6D X-ray scanner by the Transportation Security Administration (TSA). This scanner has 3D perspective technology to ensure the delivery of enhanced threat detection.
The prominent players in the global air cargo security screening market that are profiled in the report published by MRFR 3DX-RAY (the U.K), American Science and Engineering (the U.S.), L-3 Security & Detection Systems (the U.S.), Morpho Detection (the U.K), Rapiscan Systems (the U.S.), Armstrong Monitoring (Canada), Astrophysics (the U.S.), CEIA (the U.S.), Autoclear (the USA), and Gilardoni (Italy).