Market Trends of Contraband Detector Industry
This section covers the major market trends shaping the Contraband Detector Market according to our research experts:
Aviation Industry Offers Potential Growth
- Airports find maximum applications of the contraband detector, and hence, it is expected to witness significant growth for the market.
With increasing passenger traffic, airports are increasingly focusing on security. In the United States, the Transportation Security Administration (TSA) has a set of rules and regulations to vet and screen passengers. The TSA declared a potential investment of USD 3.3 billion and selected 15 organizations to upgrade the passenger and baggage screening services, across the country, at over 435 airports in a 10-year indefinite delivery indefinite quantity (IDIQ) contract, which indicates that security screening at airports is a significant area that may offer growth potential. - According to ACI Data, global passenger traffic is expected to exceed 20 billion by 2030. Further, the increasing focus to upgrade the airport infrastructure is anticipated to provide opportunities for the growth of the market studied. For instance, the Airports Authority of India (AAI) has chalked out a plan to invest about INR 19,000 crore in upgrading airport infrastructure in the country, especially in smaller cities, in the next three years.
- Also, drug trafficking in airports has been on the rise in recent times, which prompts the need for expected to contribute to the growth of the market. For instance, in January 2020, 80 kg of cocaine was discovered on a freighter Boeing 747 aircraft at Buenos Aires Ezeiza Airport in Argentina.
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Asia- Pacific Expected to Witness Fastest Growth
- Asia-Pacific is expected to have significant growth, owing to the investments for the development of the transportation sector, particularly airports and ports.
- Also, the companies are increasing their footprint in the region to gain a competitive advantage. For instance, Smiths Detection has secured several contracts in China, including the sale of 151 Ionscan 600, which is expected to be deployed across the Chongqing Jiangbei International Airport, Shanghai Pudong International Airport, Qingdao Liuting International Airport, as well as Kunming Changshui, and Cangyuan airports managed by Yunnan Airport Group.
- Further, the UN Office on Drugs and Crime reported a massive seizure of 287 million methamphetamine tablets in East Asia, which raised concerns related to excessive usage of drugs in China, Singapore, and Malaysia. These factors are further expected to drive the demand for contraband detectors, in order to ensure safety in the countries.
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