According to a new market research report published by Credence Research “Airport Baggage Handling Systems Market (Technology – Barcode System and Radio-frequency Identification (RFID); Solution – Sorting, Conveying, Tracking & Tracing and Diverting) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global airport baggage handling systems market was valued at US$ 8.14 Bn in 2017 and will be growing at a CAGR of 8.2% during the forecast period from 2018 to 2026.
The airport baggage handling systems market was valued at US$ 8.14 Bn in 2017 and expected to grow at a compounded annual growth rate (CAGR) of 8.2% during the forecast period from 2018 to 2026. Airports across the world in an urge to improve the operational efficiency of airports are focusing on deploying efficient baggage handling systems. Moreover, deploying these systems also helps to improve the experience of passengers. Reduction in aircraft turnaround time coupled with better convenience for passengers are the two most important benefits offered by these systems. The demand for airport baggage handling systems has been positively influenced by airport modernization programs implemented across various countries. The number of air passengers has witnessed a significant growth in recent years especially in regions such as Asia Pacific and Middle East & Africa. This in turn has resulted in establishment of new airports as well as expansion of the existing ones. These factors in combination are expected to compliment the baggage handling systems market growth.
Asia Pacific expected to remain as the most important market for investment in coming years. Governments in countries such as China and India have been largely instrumental in funding activities pertaining to airport modernization. In recent years, the number of passengers travelling through airways in the Asia Pacific region has increased significantly. This trend is likely to continue in the coming years. With increasing disposable income of people, the demand for air travel in countries/regions including China, India and South Asia has increased significantly in recent years. As per reports by IATA, China expected to displace the United States as the world’s largest aviation market around the year 2022. Similarly, India expected to surpass U.K. in 2025 and occupy the 4th position globally. The growth of the aviation industry in India can be understood from data released by aviation regulator, Directorate General of Civil Aviation (DGCA), which suggests India’s domestic air traffic nearly doubled to 117.18 million passengers in 2017 as compared to 59.87 million in 2011. Moreover, rising middle class, lower air ticket prices and improving regional connectivity are other prominent factors complimenting aviation industry growth in Asia Pacific. These factors in combination expected to positively influence the airport baggage handling systems market growth in the coming years.
Browse the full report at https://www.credenceresearch.com/report/airport-baggage-handling-systems-market
Some of the major players operating in the airport baggage handling systems market include Vanderlande Industries, Siemens AG, Pteris Global Limited, Daifuku Company Ltd., Beumer Group, BCS Group, Grenzebach Maschinenbau GmbH, G&S Airport Conveyor, Scarabee Systems & Technology B.V., Logplan Llc, Alstef Automation S.A., SITA and Fives Group among others.