Visiongain Publishes Air Cargo Security and Screening Systems Report 2021-2031
30 October 2020
Air Cargo Security and Screening Systems Report : Forecasts by Type (Narcotics Detectors, Explosive Detectors, Metal & Contra Band Detectors), by Technology (Approved Explosive Trace Detection, X-ray, Metal Detection, Millimetre Wave Scanning, Drug-trace Detection), by Output (Single View, Dual View, 3D View), by Operation (Manual, Automatic), by Component (Hardware, Software) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
Global air cargo security and screening systems market is estimated to be valued at US$ xx billion in 2021 and is projected to reach a market value of US$ xx billion by 2031. The market is anticipated to grow at a CAGR of XX% during the forecast period from 2021 to 2031. The market growth for air cargo security and screening systems can be attributed to ever increasing demand for air cargo transport and international trade. The market growth is also driven by factors such as illegal activities such as smuggling, and drug trafficking among others, resulting in the demand for efficient security and scanning systems from airports across the globe. Air transport has become cheaper in the recent past due to lower oil prices and the development of energy-efficient aircraft resulting in major logistic companies preferring air transport for freight transport across the globe. In addition, a growing preference for faster deliveries and international fashion brands has influenced the demand for air cargo security and screening systems positively. Moreover, airports have been investing significantly in smart technologies such as baggage handling systems, self check-in kiosks, auto-screening systems, explosive detectors, and narcotic detectors among others.
Countries across the globe are also focusing on developing separate dedicated terminals for cargo, which is expected to provide several growth opportunities for the player operating in the market over the forecast period.
COVID-19 Impact on Air Cargo Security and Screening Systems Market
Due to Covid-19, the international trade has dropped significantly during 2020 and is expected to recover slowly over the next two to three years. As the international trade and commerce business sector is witnessing sluggish growth, the demand for air cargo security and screening systems is expected to slow down during the first half of the forecast period till 2022. Due to ongoing pandemic, air passenger traffic has reduced drastically and is one of the major factors expected to hamper the market growth in short term. Covid-19 has impacted global economies significantly in 2020 and is likely to affect the capital expenditures of many emerging economies across the globe. For instance, India is one of the fastest growing markets for air cargo security and screening systems on account of several planned airport infrastructure projects. However, it is expected that country will witness negative growth in their GDP, which will in turn affect the investment on airport infrastructure projects in coming years.
Some of the company’s profiled in this report include L-3 Communications Security & detection system, Leidos Security Detection & Automation, Safran Identity and Security SAS, Smiths Detection, Gilardoni S.P.A., Nuctech Company, Rapiscan System, American Science and Engineering, Inc., Implant Sciences Corporation and Costruzioni Elettroniche Industriali Automatismi S.p.A.
• In October 2020, Smith Detection has received a contract worth US$ 91 million for the production of joint chemical agent detector adapter. Under this contract, Smith Detection Inc will deliver joint chemical agent detector adapters for the US Department of Defense (DoD) before 2029. These adapters are capable of detecting illicit drugs and explosive compounds.
• In June 2020, Smith Detection has also received a contract from Kuwait International Airport for supplying baggage screening equipment for its new terminal, which is currently under construction.
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