Market Overview
Market Research Future (MRFR) confirms that the commercial airport baggage handling systems market could advance at a decent rate of more than 10.90% over the forecast period (2023-2032). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Primary Drivers and Restraints
The commercial airports baggage handling systems market insights has been on a sharp upward trajectory in recent years, given the pressing need for better operational efficiency at airports worldwide. The baggage handling system/BHS is one of the most crucial parts of logistics that facilities efficient and faster delivery of goods or baggage, which remains a key reason for its high demand at airports. The dramatic boom in commercial aviation over the years owing to the surge in international trade, favorable government policies and mandates, increased tourism level and growing prominence of FDI/foreign direct investments in aviation has helped the global market in generating massive revenues.
The considerable market earnings are also the result of the rising air passenger traffic, mounting number of new airports with advanced management and operational technologies, and the rise in upgradation of the existing airports. A sophisticated BHS technology performs luggage sorting, tagging and screening, which helps reduce the chances of misplacement and theft. High accuracy rate of the baggage handling system and the lower error scope are propelling the demand rate across airports and inducing significant market growth.
Airports are constantly collaborating with airlines to enhance the passenger baggage handling process, while new technologies and initiatives are emerging as parts of the modernization process. Given the high demand from various dimensions, many of the top players are strategizing for long term market sustainability via new product launches, offering customized solutions, as well as MAs. From this, it can be inferred that a number of green field and brownfield airport constructions could present attractive opportunities to the market participants in the following years.
Renowned Companies
Some of the well renowned companies active in the commercial airport baggage handling systems industry are BCS Group (New Zealand), Vanderlande Industries (Netherlands), GS Airport Conveyor (U.S.), Grenzebach Maschinenbau GMBH (Germany), Siemens AG (Germany), Pteris Global Limited (Singapore), Logplan LLC (U.S.), Daifuku Company Ltd (Japan), Beumer Group (Germany), Fives Group (France), to mention a few.
Segmental Insight
The commercial airport baggage handling systems market trends can be considered for airport class, technology, service, and type.
Depending on the airport class, the main segments are A, B, and C.
The technologies covered in the market study include barcode as well as RFID. RFID technology is the top segment since it accurately scans baggage tags to curb any chances of issues; resulting in significant revenues for the aviation industry.
The key services studied in the report could be self-service along with assisted-service.
The type-based segments highlighted in the MRFR report include destination-coded vehicles and conveyors. Conveyors observe strong demand in airports owing the benefits they provide including reduced maintenance cost, better safety, lower lead-time, and high durability.
Regional Insight
The main markets for commercial airport baggage handling systems worldwide include Europe, Asia Pacific or APAC, the Middle East and Africa or MEA and North America.
North America has one of the leading aviation industries across the world, with the presence of a high number of airports with advanced technologies as well as massive volume of air traffic. The air passenger traffic in the region is estimated to surge an annual rate of 2.9% in the coming 20 years. The expected air traffic surge combined with the high number of airport construction activities are deemed to work in favor of the commercial airport baggage handling system market in North America. The considerable increase in the use of IoT/internet of things across the aviation industry has contributed immensely to the market growth in the region.
The APAC market seems to be performing well owing to the fast growth in air travel in emerging nations like India, China, Thailand and Japan. Sensing the vast opportunities in the market, players realize that a better BHS infrastructure is needed to accommodate the expanding air traffic that has no negative impact on the operational efficiency. This is why many of these companies are focusing on installing efficient and advanced BHS at airports, leading to higher competition between regional as well as a surge in technological innovations.
Read More Blogs:
Space Battery Market Research Report-Global Forecast till 2030
Space Situational Awareness (SSA) Market Research Report - Forecast till 2030
UAV Flight Training and Simulation Market Research Report - Global Forecast till 2030
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Contact:
Market Research Future
99 Hudson Street, 5Th Floor
New York, New York 10013
United States of America
