Persistence Market Research projects the global air cargo security and screening systems market to see moderate growth through 2024; the market is expected to reach a value of US$ 1,622.8 Mn by 2024-end.
“Air Cargo Security & Screening Systems Market: Global Industry Analysis and Forecast, 2016–2024” is a recent market report outlook published by Persistence Market Research that examines the global air cargo security and screening systems market for an eight-year period, 2016-2024. Persistence Market Research provides key insights into market dynamics, segmentation, regional outlook, and key players, delivering key market value estimations.
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“Expanding at a compound annual growth rate of over 6%, the US$ 1.0 Bn air cargo security and screening systems market is likely to reach US$ 1.62 Bn by the end of 2024."
Research Findings: Key Market Drivers
Research Findings: Key Market Players & Potential Growth Opportunities
L-3 Communications Security and Detection Systems, Inc. is one of the key players participating in the global air cargo security and screening systems market. The company is also one of the key defense contractors for the U.S. Government, and is currently focusing on strategic acquisitions and partnerships in order to enhance the global market presence.
Another notable company in the competitive landscape is Rapiscan Systems, Inc. This player strives to sustain a strong global presence through cost-effective product offerings and consistent innovation. Smiths Detection Inc. is emphasizing partnerships with private airlines.
While Safran Identity & Security specializes in extensive air cargo screening products portfolio, Gilardoni S.P.A. is recognized for a broad range of customized security and screening solutions.
Some of other key companies in the global air cargo security and screening systems marketplace, include Costruzioni Elettroniche, Industriali Automatismi S.p.A., Implant Sciences Corporation, American Science and Engineering, Inc., and Nuctech Company Limited.
Global Air Cargo Security and Screening Systems Market: Segmentation
Depending on the size of screening systems, the global market for air cargo security and screening systems is segmented into:
By technology, the market is classified as:
Based on the application, the market is segmented into:
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Global Air Cargo Security and Screening Systems Market: Regional Outlook
According to regional analysis, Persistence Market Research concludes that North America, Europe, and Asia Pacific will remain the key markets for air cargo security and screening systems globally. North America is likely to witness the fastest growth at a CAGR of 7.1%, followed by APAC that will possibly witness expansion at a CAGR of 6.2% over 2016-2024.
By 2024 end, North America will represent over 32% share of the total market revenues, whereas Europe is anticipated to account for over 23% share, closely followed by APAC. Latin America and MEA will exhibit modest growth throughout the forecast period.
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