MarketsandMarkets Presents Baggage Handling System Market Share, Trends and Forecast ( ) html

The Baggage Handling System Market is projected to grow at a CAGR of 7.28%, from USD 8.4 billion in 2018 to USD 13.7 billion by The increasing focus on improving operational efficiency at airports, growing air passenger volume, and significant developments in intermodal transport are the major factors which will drive the market.Baggage Handling System Market In mode of transport, the airport segment is projected to be the largest contributor during the forecast period. The luggage handling system market for airports is estimated to account for the largest market share during the forecast period. Airports contribute almost 95% share of the market. According to primary insights, the airport segment will continue to dominate the market in the next 20–30 years. With aggressive incentives and mandates from the government, India and China have established themselves as leaders in the airport industry. Airport luggage handling systems play an important role in the global economy as they attract many suppliers and manufacturers for business investments. The growth of this market can also be attributed to the increasing percentage of air passenger traffic worldwide. According to the International Air Transport Association (IATA), the global annual average air passenger journeys are projected to grow by about 3.8% from 2014 to Get The PDF Brochure For This Report:

The conveyor type of baggage-handling system is estimated to be the largest market during the forecast period. The conveyor segment is projected to the lead the baggage handling system, by type. Airports with low passenger traffic use conveyors as the prime transportation medium for baggage. Class C and a few class B airports use the conveyor type luggage handling system. Destination coded vehicle (DCV) is a relatively new technology used in bigger airports with multiple terminals. According to primary insights, DCV is currently the fastest way to transport luggage. The growth in the adoption of DCVs can be attributed to the interlinking of terminals, increase in passenger traffic, and upgrading of airports. The conveying and sorting segment is expected to be the largest contributor in the baggage handling system market, by solution, during the forecast period. The conveying and sorting segment is projected to lead the market, by solution. According to primary insights, sorting is the heart of the total luggage handling system. The exponential increase in air and marine passenger volume for domestic and international travels worldwide has encouraged manufacturers to find ways to improve existing baggage handling technologies with automated sorting. According to Société Internationale de Télécommunications Aéronautiques (SITA), with a rise in automation reflected in increasing use of conveyor systems, the rate of baggage mishandling reduced in 2018 compared to 2017.

Asia Oceania is expected to account for the largest market size during the forecast period. Asia Oceania is projected to hold the largest market share. Factors such as growing air passenger volume, upcoming airport projects, presence of cruise industry, scope for multimodal transport, economy of countries, government investments in railway, marine, and airport projects, consumer acceptance, and government regulations have triggered the demand for baggage handling systems in the region. Due to the ever-growing air passenger traffic, China accounts for the highest market share of the Asia Oceania market. According to the IATA, India is expected to be the third largest aviation market (in terms of passengers) by 2024, which will make Asia Oceania the largest travel market in the near future. Such developments are expected to help Asia Oceania dominate the market in the near future as well. Some of the key players in the baggage handling system market are Siemens (Germany), Vanderlande Industries (Netherlands), Daifuku (Japan), Pteris Global Limited (Singapore), BEUMER (Germany), and SITA (Switzerland). Vanderlande Industries (Netherlands) is identified as the leading player in the market. Don’t miss out on business opportunities in Baggage Handling System Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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