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Baggage Handling System Market Share, Trends and Forecast (2019-2025)

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[163 Pages Report] Baggage Handling System Market by Mode (Airport, Marine, Rail), Solution, Check-In, Tracking, and Region – Global Forecast (2019-2025) – PowerPoint PPT presentation

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Title: Baggage Handling System Market Share, Trends and Forecast (2019-2025)


1
MarketsandMarkets Presents

Baggage Handling System Market Share, Trends and
Forecast (2019-2025)
https//www.marketsandmarkets.com/Market-Reports/b
aggage-handling-system-market-222241953.html
2
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 2025. 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. 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 2030
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 2034. Get The PDF Brochure For
This Report https//www.marketsandmarkets.com/pd
fdownloadNew.asp?id222241953
3
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.
4
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. Dont 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.
5
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https//www.marketsandmarkets.com/Market-Reports/b
aggage-handling-system-market-222241953.html
6
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