Air Cargo Security and Screening Systems Market Revenue to Cross US$ 1,064.4 million by 2028: The Insight Partners

Growing Safety Concerns due to Rising Incidence of Terrorism to Provide Growth Opportunities for Air Cargo Security and Screening Systems Market by 2021–2028

NEW YORK, UNITED STATES, December 1, 2021 /EINPresswire.com/ -- According to the latest research report titled “Air Cargo Security and Screening Systems Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to grow from US$ 764.3 million in 2021 to US$ 1,064.4 million by 2028; it is estimated to grow at a CAGR of 4.8% from 2021 to 2028.

Strategic Insights

Report Coverage: Details
Market Size Value in: US$ 764.3 million in 2021
Market Size Value by: US$ 1,064.4 million by 2028
Growth rate: CAGR of 4.8% from 2021 to 2028
Forecast Period: 2021-2028
Base Year: 2021
No. of Pages: 171
No. Tables: 94
No. of Charts & Figures: 79
Historical data available: Yes
Segments covered: Cargo Size, Technology, and Application
Regional scope: North America; Europe; Asia Pacific; Latin America; MEA
Country scope: US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage: Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Increasing Deployment of Security and Screening Systems at Airport Drives Market Growth

Governments of different countries are bringing advancements in the respective aviation sectors and associated industries. Growing investments in the construction of new airports and expansion of the existing ones encourage the adoption of enhanced solutions for better operations. The elevating number of airports is contributing to the proliferation of air cargo business, which further highlights the need for the deployment of security and screening systems at airports to detect narcotics, explosive objects, and metal and contraband. In August 2020, Singapore Changi Airport extended its partnership with Smiths Detection to supply advanced explosives detection systems.

Similarly, several metal detectors were installed at Tan Son Nhat International Airport for cargo detection and passengers screening in April 2021. Additionally, in September 2018, Vietnam’s Noi Bai International Airport installed an X-ray machine donated by the US under its Export Control and Related Border Security (EXBS) Program, with a total cost of ~US$ 200,000. 

Impact of COVID-19 Pandemic on Air Cargo Security and Screening Systems Market

The COVID-19 outbreak has significantly affected the world and is continuing to shatter several countries. The exponential rise in the patient count compelled government authorities to limit the movement of humans, goods, and commodities by enacting travel restrictions, mass lockdowns, and business shutdowns. Lockdown measures resulted in lesser production of commodities and goods and lowered the frequency of service offerings. However, the demand for air cargo remained unaffected during this global crisis, and the operating conditions continued to provide favorable conditions for air cargo operations. 

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Airports were given a timeline to implement these changes by 2018 in the UK, by 2020 in European countries, and by 2022 in critical circumstances. This would result in installing new scanners at airports across the region, thereby driving the demand for air cargo security and screening systems. Border authorities and customs, ports, airports, and railway operators across the region collect massive security-related data daily, which is required to be shared between the European and Schengen government bodies for easy accessibility among police and other judicial authorities.

Further, the rising e-commerce industry is leading to rise online sales which is anticipated to bolster the market growth. Additionally, the opportunity for business expansion has also boosted the growth of e-commerce owing to the growth in internet driven B2C package/cargo flows. Further, several investment plans are promoting infrastructural investments in the region. Such initiatives are anticipated to result in the increasing construction of airports, railways, other transportation facilities, and commercial construction, thereby influencing the air cargo security and screening system market growth. 

Air Cargo Security and Screening Systems Market: Competitive Landscape and Key Developments

Astrophysics Inc.; Dhonaadhi Hitec Innovations; Krystalvision Image Systems Pvt. Ltd.; Nuctech Company Limited; Rapiscan Systems, Inc.; Safran, VOTI Detection Inc.; Safeway Inspection System Limited; and Smiths Detection Group Ltd. (Smiths Group plc) are among the key players in the global Air Cargo Security and Screening Systems market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In September 2021, Smiths Detection Group Ltd. (Smiths Group plc) launched an enhanced cargo screening security scanner. Smiths Detection has announced a product upgradation within the Hi-Scan product range. The first update is the high-speed Hi-Scan 100100V-2is, launched for fast, reliable, and cost-effective air cargo screening. The new model enables increased and more efficient throughput for mail screening, express forwarders, and e-commerce, and can also be used at mass transit checkpoints.

In October 2021, Safeway Inspection System Limited Shipped X-ray scanners to overseas markets, including Asia, Europe, the Middle East and Africa, and South America.

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