Global Air Cargo Security Equipment Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at an 8.2% CAGR of around during a forecast period.
Air cargo traffic raised XX% in 2018, more than double the long-term average growth rate. In the following 20 years, air cargo traffic is likely to more than double and the globe freighter fleet will rise by more than 75%.
The scope of the report contains a detailed study of global and regional markets for Global Air Cargo Security Equipment Market with the reasons given for variations in the growth of the industry in certain regions. Such as, commercialization & development of technologically advanced air cargo equipment is expected to fuel the growth of the global market. Emergent investments by many state governments in the up-gradation of present security technology is also likely to have a positive impact on the global market.
However, the global market for air cargo security equipment is challenged by the poor budget for improvement airports. The market is expected to be hindered by the reluctance to technology, particularly in the developing parts of the globe. Also, the lack of awareness about the aids of using sophisticated air cargo security equipment is likely to restrain the market from achieving its significant growth.
Based on product type, the x-ray systems segment accounted for a major share contributing to US$ XX Mn of revenue in 2018. This is mainly because of the growing demand for implementing modern screening technology and the rise in the air cargo security layers. The report will provide an accurate prediction of the contribution of the various segments to the growth of the air cargo security equipment market size.
The report offers a brief analysis of the major regions in the air cargo security equipment market, namely, APAC, Europe, North America, South America, and the Middle East & Africa. The APAC dominated the air cargo security equipment market in terms of revenue followed by North America and Europe. The growth in the APAC region is owing to the introduction of new screening technology devices and advanced security equipment.
Moreover, the European government has imposed 100% cargo screening on all passenger flights from Europe. The MEA is observing growth in infrastructure development & targeting new airports and terminals in the region of main airport hubs.
Major air cargo security equipment market companies are focusing on freight consolidation to decrease the cost of air freight. Cargo airlines and integrated rapid carriers are also proposing freight forwarding & delivery services. This overcapacity in the air freight is further increasing the competition in the air cargo security equipment market.
The objective of the report is to present comprehensive analysis of Global Air Cargo Security Equipment Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Global Air Cargo Security Equipment Market dynamics, structure by analyzing the market segments, and project the Global Air Cargo Security Equipment Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Air Cargo Security Equipment Market make the report investor’s guide.
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Global Air Cargo Security Equipment Market, by Product Types
• Human-heartbeat Detection Systems
• X-ray Systems
• Other Product Types
Global Air Cargo Security Equipment Market, by Applications
• Air Cargo Security Screening
• Aviation Checkpoint Solutions
• Advanced Personnel Screening
• Other Applications
Global Air Cargo Security Equipment Market, by Region
• North America
• Asia Pacific
• South America
• Middle East & Africa
Key players operating in Global Air Cargo Security Equipment Market
• American Science and Engineering
• EAS Envimet Group
• L3 Security and Detection Systems
• Nuctech Company Limited
• Rapiscan Systems
• Smith’s Detection
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