Market Research Report
Global Air Cargo Screening Systems Market - Analysis of Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||597194|
|Published||Content info||102 Pages
Delivery time: 2-3 business days
|Global Air Cargo Screening Systems Market - Analysis of Growth, Trends, and Forecast (2018 - 2023)|
|Published: February 8, 2018||Content info: 102 Pages||
The global air cargo screening systems market is expected to register a high CAGR during the forecast period, 2018 to 2023. Asia-Pacific accounted for the largest market, accounting for around one-third of the global market share in 2017.
Accelerating Growth in Air Cargo
According to IATA, in 2016, airlines transported 52 million metric tons of goods, representing more than 35% of global trade by value. On average, cargo business generates 9% of airline revenues, representing more than twice the revenues from the first class segment. This increased growth has been fraught with security risks. Since the Yemen printer cartridge plot in 2010, the security of the air cargo supply chain has been under increased scrutiny. Governments have increased their oversight and often require enhanced advance information about cargo transported, and/or have introduced 100% screening requirements for cargo shipments.
The demand for air cargo screening systems is expected to rise through the forecast period owing to growing fleet of e-commerce, which is seen as a future growth driver for the air cargo industry, as online shopping boosts demand for parcel delivery services worldwide.
Technologies in Use
The modern screening methods of today are proficient and powerful in screening high volumes of cargo, thus, boosting the global air cargo screening systems market. The advancements in the modern IT systems are integral for the development of the modern air-cargo screening system. Important technologies, currently in use, include screening systems, based on Explosive Trace Detection (ETD), X-Ray and Explosive Detection System (EDS) technologies.
Asia-Pacific to Dominate the Market Growth
Asia-Pacific is the largest market for screening systems and is expected to increase its global market share, over the forecast period. Further, the growth in the region owes to the rising cargo traffic and improving infrastructure, especially, in the emerging economies such as India, China and Indonesia. Africa, currently a small region for the market, is anticipated to record higher growth rates (of more than 8%), by 2021, and emerge as an important aviation hub in the future.
Key Developments in the Market
November 2017: Smiths Detection's IONSCAN 600 is the first explosives trace detection system to be 'Approved' on the TSA air cargo screening technology list (ACSTL) under the latest program requirements to ensure security of cargo aboard airplanes.
January 2017: The British cargo screening systems manufacturer, Smiths Detection, acquired Safran, the US-based Morpho Detection Company.
Major players: 3DX-RAY LIMITED, RAPISCAN SYSTEMS, L3 SECURITY & DETECTION SYSTEMS, SMITHS DETECTION, DIAGNOSE, E2V, ASTROPHYSICS INC, ICTS, MORPHO DETECTION
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