Cargo Inspection Market Report - Global Forecasts from 2021 to 2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Cargo Inspection Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.

The global cargo inspection market is expected to grow at a compound annual growth rate of 5.24% over the forecast period to reach a market size of US$2,315.431 million in 2026, from US$1,619.444 million in 2019.

The market is expected to surge in the coming years, due to the increase in cargo trade, globally. Moreover, the rise in cross-border trade, free trade agreements, and the imperative need to protect high quality and value commodity goods and cargos, are expected to have a significant impact on the overall market growth, during the forecast period.

Moreover, major companies, globally, have been providing advanced and innovative cargo inspection services and solutions, which is also expected to be a major factor in the overall market growth, in the coming years.

For instance, Intertek, one of the major players in the market, provides cargo inspection services and reduces and minimizes commodity cargo trading risks with independent testing and inspection. The company helps in the protection of high-value and quality commodity cargos and substantially minimizes the risk of loss exposure, to all the respective parties involved.

Latest Developments.

• In May 2021, US Customs and Border Protection announced that it had been planning to spend around US$46 million, to upgrade and develop novel technology to enhance rail cargo inspections, at their Mexican and Canadian borders. The CBP had stated that it would use novel high-energy rail scanners, that would be used in the generation of high-quality images more securely and quickly.
• In April 2021, Leidos Holdings Inc, a major Reston-based Fortune company, announced that it had been awarded a contract worth US$480 million by the United States Custom and Border Protection (CBP) to provide novel and advanced multi-energy portal systems for non-intrusive inspections of the respective commercial vehicles at sea or land points of entry. Under this novel contract, the company would deploy, integrate and train the border customs staff to use its cargo and vehicle inspection system with high energy transmission and low energy backscatter cargo inspection system. This development is expected to have a positive impact on the market, during the forecast period.

Key Topics Covered:

1. Introduction
1.1. Market Definition
1.2. Market Segmentation

2. Research Methodology
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis

5. Global Cargo inspection Market Analysis, By Component
5.1. Introduction
5.2. Hardware
5.3. Software
5.4. Services

6. Global Cargo inspection Market Analysis, By Industry vertical
6.1. Introduction
6.2. Mining
6.3. Oil and Gas
6.4. Agriculture
6.5. Others

7. Global Cargo inspection Market Analysis, by Geography
7.1. Introduction

8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9. Company Profiles

• Intertek Group PLC
• Agriculture Industry Marine Inspection Group
• Qima
• Bureau Veritas
• EBCO Systems
• Cotecna
• Leidos
• Varex Imaging
• Cargo Inspections Group
• SGS

For more information about this report visit https://www.researchandmarkets.com/r/2lwedf