Airport Baggage Market

Description

Owing to rising air passenger traffic and upcoming new airports in many emerging economies, the global airport baggage handling system market is expected to witness substantial growth over the period 2017-2022. Valued at US$ XX in 2017, the market is projected to reach a valuation worth US$ XX by 2022, growing at a compound annual growth rate of XX% during the forecast period.

Market Dynamics

Increased air travel by the global population in general and enhancement of airport infrastructure are the biggest factors that are expected to give the market a boost in the forthcoming years. Other factors that can pave better growth prospects include efforts towards improvements in airport efficiency, aircraft turnaround time, and customer satisfaction. While so many factors are seen to be driving the market forward, other complications such as high initial investments and complex architecture pose to be formidable deterrents to the aforementioned progress. However, limited airspace coupled with increasing passenger and cargo traffic are expected to alleviate such probabilities.

Key strategies adopted by vendors include drawing investments towards improved technology, new product development, mergers and acquisitions, and providing customized solutions. Eminent airports are kept under constant reviewing and surveillance in order to gain information on what kind of customization the process of baggage handling can undergo.

Rise in construction of new airports in emerging economies have also opened up new growth prospects towards the market’s expansion and penetration into the lower regional segments, notably the Middle-East, Africa, and Latin America

Market Segmentation

The market is segmented on the basis of airport class, identification technology, service, BHS type, and efficiency.

• On the basis of airport class, it is segmented into A, B, and C; on the basis of identification technology, into barcode and RFID
• On the basis of service, into self-service and assisted service
• On the basis of BHS type, into conveyors and destination coded vehicles
• On the basis of efficiency, into below 3000, 3000 to 6000, and above 6000

Regional Analysis

The market is geographically segregated into North America, Asia-Pacific, Europe, Middle-East and Africa, and Latin America. Amongst these, North America holds the largest share in the market, followed by Europe and Asia-Pacific. The Asia-Pacific segment is expected to register a high growth rate during the forecast period owing to increasing passenger traffic and new airport constructions in emerging economies.

Key players

Key players in the global airport baggage handling system market include Vanderlande Industries, Siemens AG, Daifuku Company, Pteris Global Limited, Fives Group, GrenzebachMaschinenbu GMBH, Logplan LLC, G&S Airport Conveyor, BCS Group, and Beumer Group.