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Airport Baggage Handling System Market Trends Analysis, Market Opportunities, Key Players, Share And Forecast To 2033
Airport Baggage Handling System Market Analysis
As per the report, the airport baggage handling system market size has grown strongly in recent years. It will grow from $8.22 billion in 2023 to $8.92 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The airport baggage handling system market size is expected to see strong growth in the next few years. It will grow to $12.24 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%.
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Rising Air Traffic Drives Airport Baggage Handling System Market Growth
The increase in air traffic is expected to propel the growth of the airport baggage handling system market. Air traffic refers to aircraft movements at airports. The reasons for the increase in air traffic are economic and demographic growth, rising income levels, the need for faster transportation of goods, and others. The demand for airport baggage handling systems will rise in response to the increasing air traffic to support crowded airport operations and reduce lead times for aircraft and at airports. For instance, according to the May 2022 passenger data published by the IATA (International Air Transport Association), a trade association for the world's airlines, total air traffic was up 83.1% compared to May 2021, mostly driven by a strong recovery in international traffic. Worldwide air traffic is now at 68.7% of pre-pandemic levels. Further, in May 2022, international traffic grew 325.8% versus May 2021. Therefore, an increase in air traffic is expected to drive the growth of the airport baggage handling systems market.
Technological Advancement Drives Innovation In Airport Baggage Handling System Market
Technological advancement in airport baggage handling systems is a key trend gaining popularity in the airport baggage handling system market. The major players in the market and airports are integrating advanced technologies in baggage handling systems, such as near-field communication (NFC) and radio frequency identification (RFID), to provide automated check-in and baggage handling services. For instance, in June 2022, Delhi Airport, an Indian primary international airport, introduced BAGG TRAX, an RFID-enabled tagging technology to track passenger luggage in real-time during every stage of transfer. Upon registering, the tag needs to be put into check-in luggage, and passengers will receive updates on their phones when the baggage arrives at the airport and is ready to be picked up at the designated baggage belt. This system is projected to reduce the amount of lost or delayed baggage and time, which now costs airlines billions of dollars annually.
The airport baggage handling system market covered in this report is segmented -
1) By Type: Conveyors, Destination Coded Vehicles
2) By Solution: Check-In, Screening And Load, Conveying And Sorting, Unload And Reclaim
3) By Service: Assisted Service, Self-Service
4) By Technology: Barcode, RFID (Radio Frequency Identification)
5) By Application: Airport, Railway, Marine, Other Applications
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Major companies operating in the airport baggage handling system market report are Beumer Group, Daifuku Co. Ltd., Fives SA, G&S Airport Conveyor, Glidepath Limited, Grenzebach Maschinenbau GmbH, Logplan LLC, Pteris Global Limited, Siemens AG, Vanderlande Industries BV, SITA AG, BCS Group, Ansir Systems, Babcock International Group, Leonardo SpA, Airport Equipment Services Pte. Ltd., ALPHA-CIM Baggage, Alstef Automation S.A., Ammeraal BelTech, Aversan Inc., BB Computerteknik AS, BDP International, CASSIOLI Group, CIMC-TianDa Airport Support Ltd., Dalmec Industrial Manipulators India, LAS-1 Ltd., Logan Teleflex UK Ltd., Losch Airport Service GmbH, Matrex India Pvt. Ltd., Siemens Logistics GmbH
Contents of the report:
1. Executive Summary
2. Airport Baggage Handling System Market Report Structure
3. Airport Baggage Handling System Market Trends And Strategies
4. Airport Baggage Handling System Market - Macro Economic Scenario
5. Airport Baggage Handling System Market Size And Growth
…..
27. Airport Baggage Handling System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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