The nuclear materials transportation market size was USD 1.22 Billion in 2021 and is expected to register a revenue CAGR of 7.4% during the forecast period, according to the latest analysis by Emergen Research. Increasing popularity of blockchain in logistics of nuclear materials and rising adoption of radioactive materials for spacecraft are major factors driving revenue growth of the market.
A radioisotope power system is one that transforms heat into electricity. When a radioactive substance decays, heat is released. This substance is used by engineers to create thermocouples, which produce electricity. The thermocouple has a hot and cold shoe and this heat causes electrical charges to move from hot to the cold shoe, creating an electrical voltage. This heat is transported across a significant temperature differential. Furthermore, this produces usable electrical power, which can be used to fuel various spacecraft and for other electrical purposes.
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However, by its very nature, transporting radioactive material increases danger of mishaps, which can result in radiation exposures that could affect safety of people, property, and environment. There are several government regulations to oversee the transport of these nuclear materials on land, water, or air, including transport that is related to the use of radioactive material, even though organizations in charge of facilities and activities that generate these risks bear the primary responsibility for safety. Governments, regulators, owners of nuclear sites, carriers, users of radiation sources, and people involved in cargo handling should all be aware of these transportation requirements.
The Nuclear Materials Transportationresearch report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on a detailed analysis of the technological and product developments undertaken by these companies.
Key players in the Nuclear Materials Transportation market include
Agility Public Warehousing Co. KSCP,
Deutsche Post AG,
Alara Global Logistics Group, and
DG Air Freight Pty. Ltd.,
Clean Harbors Inc.,
Edlow International Co.,
Boyle Transportation, and
DSV Panalpina AS.
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Key Findings from the Report Suggest:
The fresh fuel segment is expected to register a significant market revenue growth. Increasing demand for new fuel for uranium fuel assemblies is anticipated to propel sales growth of this segment. Uranium fuel assemblies are created in fuel fabrication facilities. The fuel assembly is made up of ceramic pellets made from pressed U3O8 that have been sintered at a high temperature (around 1400°C).
The healthcare segment is expected to register a substantial growth over the forecast period. Nuclear medicine uses radioactive chemicals inside the body to diagnose illnesses or identify and remove diseased or damaged organs and tissue. Many cancers can be treated with radiation therapy, either by itself or in conjunction with other treatments such as surgery and chemotherapy.
The North America market is expected to register a considerable growth during the forecast period. Up to 3 million packages carrying radioactive materials are shipped over American soil every year through land, rail, air, or water. Responsibility for policing the security of these shipments falls jointly on NRC and Department of Transportation.
On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the R&D sector.
Emergen Research has segmented the nuclear materials transportation market based on material type, end-user, and region:
Material Type (Revenue, USD Billion; 2019–2030)
End-User Outlook (Revenue, USD Billion; 2019–2030)
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Key Benefits of Buying the Global Nuclear Materials Transportation Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Nuclear Materials Transportation Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Nuclear Materials Transportation Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Nuclear Materials Transportation Market
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