Market Size of Air Cargo Screening Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Air Cargo Screening Systems Market Analysis
The air cargo screening systems market is expected to grow with a CAGR of more than 4% during the forecast period.
The global aviation sector faced unprecedented challenges due to the COVID-19 pandemic. The pandemic significantly affected the commercial aviation sector, drastically reducing passenger traffic, negatively affecting demand for airport equipment, and delaying procurement plans and replacement/MRO cycles. According to the International Air Transport Association (IATA) report, the global market for air cargo witnessed a significant decline in the base year. Asia-Pacific airlines saw their air cargo volumes decrease by 10.7% in September 2022 compared to the same month in 2021. Furthermore, the cargo traffic between North America-Asia trade lanes decreased by 2.4% due to factory closures in Asia amid covid-19 pandemic. Such factors reduced the demand for air cargo screening systems during the pandemic.
The rapid expansion of the aviation sector and increasing investments in the modernization of airport infrastructure drive the market's growth. In the last few years, e-commerce has witnessed significant growth due to increased online shopping, leading to rapid air cargo volume growth. This is expected to generate demand for advanced screening systems at airports to handle cargo of various sizes and types. With the increase in air cargo, several airports are constructing dedicated air cargo terminals, which are expected to further propel the demand for air cargo screening systems in the coming years. The air cargo industry is a large target for terror attacks. In the past, few attempts were made to ship explosive materials, which raised concerns and resulted in further tightening regulations in terms of screening. Stringent regulations related to air cargo screening by the Transportation Security Agency (TSA) and other regulatory bodies in the European Union forced several airports to enhance existing cargo screening systems.
