Airport Baggage Handling System Market to Grow at 4.60% CAGR by 2030
Consistent growth in aviation industry linked with the modernization of airports & construction of new airports along with technological advancement as well as growing tourism industry are expected to drive the growth of airport baggage handling system industry during the forecast period of 2020-2030.
The Airport Baggage Handling System Market is expected to grow at the CAGR of 4.60% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
Airport baggage handling system is a conveyer belt series which helps in the loading & unloading of checked luggage from the aircraft. This system also helps to find out the location of luggage & also avoid the loss of luggage. It also ensures that the luggage should reach to the correct location from where it can be loaded to the destination aircraft. This system consists of various different sensors, barcodes, RFID tags and other which further simplifies the entire process which helps in the development of better experience for the traveller.
According to the report, there has been regular development of existing airports along with rising renovation activities for the standardization as per the international norms. In addition, constant growth in airports all around the globe along with the surge in air travels supported by the developing tourism industry. There has been steady growth in disposable income with rising population supported by the developing trade practices owing to globalization. On the other hand, high adoption rate of advanced system along with developing aviation industry is expected to bring change in market trends in near future.
However, high cost of installation as well as maintenance along with major drawbacks of system failure is expected to impede the market growth. Moreover, amplified use of robotics as well as improvement in turnaround time is anticipated to provide numerous opportunities to the market in the coming few years.
On the basis of airport class, the airport baggage handling system market share is segmented into class A, Class B, and Class C. Class B segmented dominates the global airport baggage handling system market in terms of market share and will be the dominant during the forecasted period.
Based on service, the airport baggage handling system market is fragmented self-service and assisted service. Self-service accounts for the major market share & expected to maintain its dominance during the forecast period.
On the basis of type, the airport baggage handling system market is categorized into conveyer and destination coded vehicle. Conveyer accounts for the highest market share owing to the wide usage which helps it to maintain its dominance till 2030.
On the basis of technology, the airport baggage handling system market is categorised into barcode and RFID. RFID is one of the advanced technology & likely to growth with significant CAGR and maintain its dominance in near future.
North America is likely to account for the highest size & share of the airport baggage handling system market in the forecast period 2020–2030 owing to growth in tourism industry supported by rapidly growing aviation industry. Moreover, advancement in technology followed by the presence of modern infrastructure. Europe accounts for the second leading position in the airport baggage handling system market size. Asia Pacific is expected to be the fastest developing region in the airport baggage handling system market which is majorly driven by the constant growth in the construction of airports with modernization of existing one. In addition, growth in disposable income with rising passenger traffic is expected to enhance the market growth.
According to the report, some the key players in the airport baggage handling system market are Beumer Group, Siemens AG, G&S Airport Conveyor, Daifuku Co. Ltd., Vanderlande Industries B.V., Pteris Global Limited, Grenzebach Group, Fives Group, Glidepath Group and Logplan LLC.
Browse key industry insights from the report at https://www.nextmsc.com/report/airport-baggage-handling-system-market in detail along with the table of contents:
Key Insights from the Airport Baggage Handling System Market Report:
- Asia Pacific is the fastest growing Airport Baggage Handling System market owing to the growth in disposable income along with growth in modernization activities as well as construction of new airports followed by rising passenger traffic.
- The RFID dominates the segment and is expected to grow at significant CAGR to maintain the led in 2030.
- Some of the major players in the market are Beumer Group, Siemens AG, G&S Airport Conveyor, Daifuku Co. Ltd., Vanderlande Industries B.V., Pteris Global Limited, Grenzebach Group, Fives Group, Glidepath Group and Logplan LLC.
The report Airport Baggage Handling System market – segmented by type, service, technology, airport class, and geography
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