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Organized groups of cargo thieves want items that are both valuable and easy to resell, according to a recent study by GearTrack.
Theft is becoming more sophisticated and shifting to localized incidents with the newest inclusion of AI and insider information, the data showed, as thieves target high-value goods like electronics, high-end apparel and auto parts.
“Recent tariffs on imported vehicles and auto components may also be contributing to a rise in vehicle-related thefts,” GearTrack said in the study. “States like Pennsylvania, Tennessee and Illinois reported the largest increases in cargo theft, while Kentucky saw a 200% rise. To reduce the risk of cargo theft, shippers transporting high-value goods like electronics, auto parts, and apparel should prioritize route planning, safety action plans, and driver education to enhance the security and timely delivery of valuable cargo.”
Top targets…
- In April, California, Texas, and Illinois made up 68% of all thefts in the U.S.
- Cargo theft incidents in Illinois increased by 81% month-over-month.
- Kentucky cargo theft increased by 200%, while theft in Florida dropped by 44% from March.
- The top targets were electronics, vehicles and apparel – including a stolen shipment of bitcoin mining computers valued at $2.7million discovered at the Los Angeles International Airport.
Also in April, apparel experienced a 20% month-over-month increase in theft, electronics was hit by a 58% pop while vehicles suffered a 27% spike in month-over-month thefts.
“Shippers must go beyond basic prevention strategies to address small, localized organized theft groups targeting shipments with high-value goods. Proactively enhancing tracking systems, strengthening security measures and increasing education to close potential vulnerabilities will help ensure the safety and integrity of their supply chains,” GearTrack said.
Meanwhile, the cargo transportation insurance market is estimated to increase from $56.81 billion in 2024 to $59.05 billion in 2025, corresponding to a compound annual growth rate (CAGR) of 3.9%.
Contributing factors for this growth during the historical period include the evolution of international trade and globalization, the broadening of the logistics and supply chain sector, a rise in cargo shipping activities, mandates for cargo insurance and past cases of cargo loss or damaged cargo, according to The Business Research Company.
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