Air Cargo Security Equipment Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032
The global air cargo security equipment market is expected to reach a value of US$ 28,786.5 Mn by 2024. The market is estimated to expand at a CAGR of 6.2% during the forecast period from 2018 to 2024.
In 2016, Asia Pacific region held the largest market share of global air cargo security equipment market due to increasing focus on innovation of technology and demand for improved security product and application. Furthermore, growing demand for investment in screening technologies for security purposes and evolving security measures in aviation sector in an air cargo security equipment contributed to the growth of the Asia Pacific air cargo security equipment market.
Europe was the second-largest market in terms of revenue generation in 2016. Changing company policies and developed infrastructure has resulted in the higher adoption of air cargo security equipment in Asia Pacific and Europe. Also, companies are focusing on construction of new cargo hubs, process efficiency which contributes to the growth of the air cargo security equipment market. Growing usage of advanced screening and hidden human detecting technologies are expected to benefit the air cargo security equipment market in Asia Pacific and Europe.
X-ray systems and air cargo security screening segment of the air cargo security equipment market are expected to grow at a faster rate throughout the forecast period owing to increased adoption of x-ray technology for Usage of security systems for explosive and narcotic trace detection. Furthermore, due to rapid demand of air cargo security equipment, Asia Pacific region is anticipated to be the fastest growing market with a projected CAGR of 6.9% during the forecast period.
Availability of technology, developing investment opportunities needed for air cargo security equipment are the main factors behind the growth of air cargo security equipment in Asia Pacific region. X-ray systems and air cargo security screening segment in Asia Pacific region is anticipated to grow at a faster rate during the forecast period. This is mainly due to the rising demand for implementing modern screening technology, and increase in the air cargo security layers. South America region is anticipated to grow at a study pace between 2017 and 2024 however, with a limited market share.
An increasing trend towards the adoption of air cargo security equipment is observed across Middle East & Africa region. Growing demand for presence of domestic airports and facilities across MEA offers opportunities for potential region is anticipated to provide growth opportunities for air cargo security equipment market during the forecast period.
Rising growth of regulatory initiatives in air cargo security is one of the primary growth drivers for the air cargo security equipment market driving the growth of the market in the Asia Pacific and Europe region. However, the market also faces certain drawbacks.
A major factor restraining the growth of this market is the high cost of screening systems and bulk screening while operating air cargo security equipment Asia Pacific region is dominated by x-ray system and has total market volume of US$ 2,332.1 Mn in 2016.
In Asia Pacific region, countries like Japan and India are anticipated to drive the air cargo security equipment market. Owing to increase in infrastructural expansion of critical transportation services, government is spending huge amount on security related projects. This is expected to result in higher demand for air cargo security equipment within the aviation and screening segment. The air cargo security equipment market is highly competitive in terms of product offered due to the higher concentration of air cargo security equipment providers.
Key players are focused on differentiating their offerings from those of their competitors and adding innovative functions and facilities to their product portfolio. With the presence of many large players in the market, mergers and acquisitions have become crucial for success.
The key players dominating the Air cargo security equipment market globally include ADANI, American Science and Engineering, Inc., C.E.I.A. S.P.A., EAS Envimet Group, ENSCO, Inc., Gilardoni S.P.A., L3 Security & Detection Systems, Nuctech Company Limited, Rapiscan Systems, and Smiths Detection Inc.
Market Segmentation:
By Product
- X-ray Systems
- Human heartbeat Detection Systems
- Others
By Application
- Advanced Personnel Screening
- Air Cargo Security Screening
- Aviation Checkpoint Solutions
- Others
By Geography
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
- Introduction
- Research Objectives
- Report Assumptions
- Research Methodology
- Abbreviations
- Preface
- Market Definition
- Report Scope and Market Segmentation
- Research Highlights
- Market Synopsis: Global Air Cargo Security Equipment Market
- Global Air Cargo Security Equipment Market Qualitative Analysis
- Trends
- Market trends
- Technology Trends
- PESTLE Analysis (For 3 prominent countries)
- Market Influencers
- Driving Forces
- Hindering Forces
- Opportunities
- COVID-19 impact
- Porter’s Five Forces Analysis
- Value Chain Analysis
- Trends
- Global Air Cargo Security Equipment Market Analysis and Forecast, by Product
- Overview and definitions
- Key segment analysis
- Global Air Cargo Security Equipment Market Estimates (US$ Mn), by Product, 2019 – 2032
- X-ray Systems
- Human-heartbeat Detection Systems
- Others
- Global Air Cargo Security Equipment Market Analysis and Forecast, by Application
- Overview and definitions
- Key segment analysis
- Global Air Cargo Security Equipment Market Estimates (US$ Mn), by Application, 2019 – 2032
- Advanced Personnel Screening
- Air Cargo Security Screening
- Aviation Checkpoint Solutions
- Others
- Global Air Cargo Security Equipment Market Analysis and Forecast, by Region
- Overview and definitions
- Key segment analysis
- Global Air Cargo Security Equipment Market Estimates (US$ Mn), by Region, 2019 – 2032
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- North America Air Cargo Security Equipment Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- North America Air Cargo Security Equipment Market Estimates (US$ Mn), by Product, 2019 – 2032
- X-ray Systems
- Human-heartbeat Detection Systems
- Others
- North America Air Cargo Security Equipment Market Estimates (US$ Mn), by Application, 2019 – 2032
- Advanced Personnel Screening
- Air Cargo Security Screening
- Aviation Checkpoint Solutions
- Others
- North America Air Cargo Security Equipment Market Estimates (US$ Mn), by Country, 2019 – 2032
- United States
- Canada
- Rest of North America
- Europe Air Cargo Security Equipment Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Europe Air Cargo Security Equipment Market Estimates (US$ Mn), by Product, 2019 – 2032
- X-ray Systems
- Human-heartbeat Detection Systems
- Others
- Europe Air Cargo Security Equipment Market Estimates (US$ Mn), by Application, 2019 – 2032
- Advanced Personnel Screening
- Air Cargo Security Screening
- Aviation Checkpoint Solutions
- Others
- Europe Air Cargo Security Equipment Market Estimates (US$ Mn), by Country, 2019 – 2032
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific Air Cargo Security Equipment Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Asia Pacific Air Cargo Security Equipment Market Estimates (US$ Mn), by Product, 2019 – 2032
- X-ray Systems
- Human-heartbeat Detection Systems
- Others
- Asia Pacific Air Cargo Security Equipment Market Estimates (US$ Mn), by Application, 2019 – 2032
- Advanced Personnel Screening
- Air Cargo Security Screening
- Aviation Checkpoint Solutions
- Others
- Asia Pacific Air Cargo Security Equipment Market Estimates (US$ Mn), by Country, 2019 – 2032
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- Middle East & Africa Air Cargo Security Equipment Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Middle East & Africa Air Cargo Security Equipment Market Estimates (US$ Mn), by Product, 2019 – 2032
- X-ray Systems
- Human-heartbeat Detection Systems
- Others
- Middle East & Africa Air Cargo Security Equipment Market Estimates (US$ Mn), by Application, 2019 – 2032
- Advanced Personnel Screening
- Air Cargo Security Screening
- Aviation Checkpoint Solutions
- Others
- Middle East & Africa Air Cargo Security Equipment Market Estimates (US$ Mn), by Country, 2019 – 2032
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America Air Cargo Security Equipment Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- South America Air Cargo Security Equipment Market Estimates (US$ Mn), by Product, 2019 – 2032
- X-ray Systems
- Human-heartbeat Detection Systems
- Others
- South America Air Cargo Security Equipment Market Estimates (US$ Mn), by Application, 2019 – 2032
- Advanced Personnel Screening
- Air Cargo Security Screening
- Aviation Checkpoint Solutions
- Others
- South America Air Cargo Security Equipment Market Estimates (US$ Mn), by Country, 2019 – 2032
- Brazil
- Argentina
- Rest of South America
- Competition Analysis – Global Air Cargo Security Equipment Market
- Market Composition
- Market Share Analysis (%), by Supplier (2022)
- Company Profiles
- ADANI
- Business overview
- Geographic presence
- Product portfolio
- Financial facts
- Relevant news and strategic view
- American Science and Engineering, Inc.
- E.I.A. S.P.A.
- EAS Envimet Group
- ENSCO, Inc.
- Gilardoni S.P.A.
- L3 Security & Detection Systems
- Nuctech Company Limited
- Rapiscan Systems
- Smiths Detection Inc.
- ADANI
- Conclusion & Recommendations
Frequently asked questions about this report
How big is the air cargo security equipment market?
The global air cargo security equipment market size is estimated to reach USD 28,786.5 Mn by 2024.
What is the estimated growth rate of the global air cargo security equipment market?
The global air cargo security equipment market is estimated to expand at a CAGR of 6.2% through 2024.
What are the major driving factors and opportunities in the air cargo security equipment market?
Construction of new cargo hubs, process efficiency which contributes to the growth of the air cargo security equipment market.
What are the top players active in the air cargo security equipment Market?
The major active players are ADANI, American Science and Engineering, Inc., C.E.I.A. S.P.A., EAS Envimet Group, ENSCO, Inc., Gilardoni S.P.A., L3 Security & Detection Systems, Nuctech Company Limited, Rapiscan Systems, and Smiths Detection Inc.
What is the time duration considered while assessing the market?
The air cargo security equipment analysis market has been assessed for the years 2019 to 2032.