Overview and Scope
Cargo scanning equipment refers to specialized devices and technologies used to inspect and examine the contents of cargo containers, packages, or vehicles. The primary purpose of cargo scanning equipment is to detect potential threats, illegal items, contraband, or hazardous materials that may be concealed within the cargo.
Sizing and Forecast
The cargo scanning equipment market size has grown strongly in recent years. It will grow from $3.52 billion in 2023 to $3.82 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increased global trade volumes, heightened security concerns, stringent customs and border protection regulations, growth in illicit trafficking activities, rising need for non-intrusive inspection
The cargo scanning equipment market size is expected to see strong growth in the next few years. It will grow to $5.06 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to expansion of e-commerce and logistics, demand for efficient supply chain management, adoption of radiation detection technologies, continuous growth in international shipping, adoption of portable and handheld scanning devices. Major trends in the forecast period include advances in imaging technologies, technological advancements in scanning equipment, integration of artificial intelligence in scanning systems, integration of blockchain for supply, use of machine learning for anomaly detectionchain security.
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Segmentation & Regional Insights
The cargo scanning equipment market covered in this report is segmented –
1) By Equipment Type: Narcotics Trace Detectors, Non-Computed Tomography, X-Ray Scanners, Explosive Trace Detectors (ETDs), Radiation Detectors, Other Equipment Type
2) By Cargo Size: Small Parcels, Break Pallet Cargo, Oversized Cargo
3) By End-User: Airports, Railway Station, Border Control, Logistics And Transportation, Industrial And Manufacturing Facilities, Others End-Users
North America was the largest region in the cargo scanning equipment market in 2023. The regions covered in the cargo scanning equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growth of international trade is expected to propel the growth of the cargo scanning equipment market going forward. International trade is defined as the acquisition and sale of goods and services between businesses in various nations and the interchange of goods and services from one nation to another via imports and exports. Cargo scanning equipment is essential to global trade by maintaining supply chain security, uncovering illegal activity, and supporting the efficient flow of legal trade. It assists customs officials in maintaining border security and reducing trade-related dangers. For instance, in June 2023, according to statistical data published by Eurostat, a Luxembourg-based statistical office for the European Union, in the second quarter of 2021, 854.3 million metric tons of goods were handled in EU ports, which grew to 873.05 million metric tons in the same timeframe for 2022. Furthermore, in June 2023, according to a study issued by the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental body promoting global commerce, international trade in goods increased by 1.9% in the first three months of 2023 compared to the previous quarter, adding almost $100 billion. Therefore, the growth of international trade will drive the cargo scanning equipment market.
Key Industry Players
Major companies operating in the cargo scanning equipment market report are Leidos Holdings Inc., Elbit Systems Ltd., Teledyne Technologies, IDEMIA, Smiths Detection Group Ltd., OSI Systems Inc., Rapiscan System Inc., Nuctech Company Limited, Analogic Corporation, Astrophysics Inc., L3 Security & Detection Systems Inc., ADANI Systems Inc., ICTS International N.V., Autoclear LLC, Metrasens Ltd., CEIA USA Ltd., MB Telecom Ltd. SRL, Kromek Group, VOTI Detection Inc., Westminster International Ltd. (Westminster Group), Vidisco Ltd., Scanna MSC Ltd., Gilardoni S.p.A., Todd Research Ltd., LIXI Inc.
The cargo scanning equipment market report table of contents includes:
1. Executive Summary
2. Cargo Scanning Equipment Market Characteristics
3. Cargo Scanning Equipment Market Trends And Strategies
4. Cargo Scanning Equipment Market – Macro Economic Scenario
5. Global Cargo Scanning Equipment Market Size and Growth
……………..
32. Global Cargo Scanning Equipment Market Competitive Benchmarking
33. Global Cargo Scanning Equipment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cargo Scanning Equipment Market
35. Cargo Scanning Equipment Market Future Outlook and Potential Analysis
36. Appendix
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