It's not practical (or even possible) to carry on all of your gear all of the time. Our field engineering team(s) have been travelling for 5+ years with > $100K worth of checked electrical gear to Brazil, London, Singapore, Germany, Hong Kong, and Malaysia.
A couple times gear was delayed, and so the FE team had to wait a day or so for it to arrive, but nothing has ever been stolen.
Nice thing about a Pelican Case - no straps to get tangled up in any baggage sorting gear, and large enough that it doesn't usually get stuck in the corner somewhere.
From a probability perspective, much more likely to get mugged coming out of the airport, or getting hijacked using your equipment in the field - this has happened to our Field Engineers multiple times, but no losses in the airplanes (yet).