A recent report published by Infinium Global Research on air cargo security equipment market provides an in-depth analysis of segments and sub-segments in global as well as regional air cargo security equipment market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional air cargo security equipment market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global air cargo security equipment market. According to the report the global air cargo security equipment market is projected to grow at a CAGR of 6.5% over the forecast period of 2018-2024.

Market Insight

Air cargo is any property carried or to be carried in an aircraft. Air cargo comprises airfreight, air express, and airmail. Air Cargo Handling Process belongs to core business processes irrespective of the airport itself conducts it or it is managed by a specialized organization in the opened market conditions. Air cargo security equipment systems are machines that are used for scanning parcels and detect hidden illegal items in the containers that are transported through flights. These systems help in detecting threats, knives, contraband, explosives, weapons, firearms, and narcotics. The systems are used for various applications such as advanced personnel screening, air cargo security screening, aviation checkpoint solutions.

Growth in the OEM suppliers drive the growth of the air cargo security equipment market. In addition, increasing adoption of X-ray technologies for the usage of the security system is boosting the growth of the cargo security equipment market. On the other hand, increasing threat of terror-related activates and smuggling has advised airport authorities to adopt explosive detection technology. However, The high cost of the screening systems and lack of awareness regarding the benefits of using the sophisticated air cargo security equipment are likely to restrain the growth of the air cargo security equipment market. Furthermore, advanced technologies with innovative designs are providing several growth opportunities for the key players in the air cargo security equipment market over the years to come. Moreover, growing investment by various state governments in up-gradation of existing security technology and detect newly innovated chemical bases explosives is anticipated to have a positive impact on the overall market.

Among the geographies, Asia Pacific dominated the global air cargo security equipment market in terms of revenue followed by Europe and North America. The growth in the Asia Pacific region is due to the introduction of new screening technology devices and advanced security equipment. Moreover, the European legislature has enforced 100% cargo screening on all passenger flights from Europe. The Middle East is witnessing growth in infrastructure development and targeting new airports and terminals in the region of main airport hubs. Moreover, Middle Eastern air cargo carriers have maintained strong performance and witnessed increased air cargo volume.

Segment Covered

The report on global air cargo security equipment market covers segments such as product type and application. On the basis of product type, the global air cargo security equipment market is categorized into human-heartbeat detection systems and x-ray systems. On the basis of application the global air cargo security equipment market is categorized into aviation checkpoint solutions, air cargo security screening and advanced personnel screening.

Geographic Coverage

The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. 

The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2016-2024.

Companies Profiled:

The report provides profiles of the companies in the global air cargo security equipment market such as Smiths Detection Inc., Rapiscan Systems, Nuctech Company Limited, L3 Security & Detection Systems, Gilardoni S.P.A., ENSCO, Inc., EAS Envimet Group, C.E.I.A. SpA, American Science and Engineering, Inc. and ADANI.

Report Highlights:

The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global air cargo security equipment market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of air cargo security equipment market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the air cargo security equipment market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the air cargo security equipment market to understand the present and future trends in this market and formulate their strategies accordingly.