Airport Baggage Handling System Market Size [2023-2030] Exhibits 6.6% CAGR To Reach USD 12.90 Billion In 2030

2023-12-18 07:06:47

(MENAFN- GlobeNewsWire - Nasdaq) Airport Baggage Handling System Market is Predicted to Exhibit 6.6% CAGR During the Forecast Period; Rapid Growth in Intra-travel to Drive Market Expansion in North America: Fortune Business InsightsTM

Pune, India, Dec. 18, 2023 (GLOBE NEWSWIRE) -- The global airport baggage handling system market size touched USD 7.89 billion in 2022 and is predicted to reach USD 8.27 billion in 2023. The market is anticipated to touch USD 12.90 billion by 2030, recording a CAGR of 6.6% over 2023-2030.

An advanced infrastructure developed for transporting, sorting, and managing checked luggage or baggage within an airport terminal efficiently is known as an airport baggage handling system. The main objective of an airport Baggage Handling System (BHS) is to simplify the process of handling luggage, minimizing delays and mistakes and offering travellers an enjoyable experience.

A rise in construction of new airports and renovation activities across the U.S., Germany, France, and India is boosting the sales of destination-coded vehicles and sorters, which is enhancing market expansion. Fortune Business InsightsTM shares this information in its report titled“ Airport Baggage Handling System Market, 2023-2030. ”

KEY INDUSTRY DEVELOPMENTS:

July 2023 : The Gwalior Airport in Madhya Pradesh, India, secured a contract with Alstef Group signed a contract for the creation, implementation, and evaluation of the baggage handling system. The Airports Authority of India (AAI) approved this project. High requirements for safety, effectiveness, dependability, and customer satisfaction are met by systems installed by Alstef Group.

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Report Scope & Segmentation

Report Coverage	Details
Forecast Period	2023 to 2030
Forecast Period 2023 to 2030 CAGR	6.6%
2030 Value Projection	USD 12.60 billion
Base Year	2022
Airport Baggage Handling System Market Share in 2022	USD 7.89 billion
Historical Data for	2019 to 2021
No. of Pages	160
Segments covered	By Type, By Mode of Operation, and By Region
Airport Baggage Handling System Market Growth Drivers	Integration of Baggage 4.0 Infrastructure to Drive Operational Demand
Ease in Travel Restrictions and Increased Airline Operators to Boost Airport Logistic Operations

Report Coverage:

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

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Drivers and Restraints:

Increase in Airport Passengers is Enhancing Market Progress

Increased demand for airport logistics equipment is attributed to an increase in international and intra-travel passengers due to their potential earnings. By maintaining robust economic growth, more countries that do not require visas will aid in reviving the nation's gross development advancement. Additionally, a significant increase in airport passengers and low air travel price trends have boosted the entry of new airline operators into the aviation sector. All these elements are predicted to fuel market expansion.

Nevertheless, high operational costs are limiting the adoption of baggage handling systems, which is hampering market growth.

Market Segmentation:

Increasing Preference for Conveyors for Deliver Easy to Install Products to Fuel Segment Expansion

By type, the market is divided into Destination-coded Vehicle (DCV), conveyors, sorters, and Self-bag Drop (SBD).

The conveyor segment is anticipated to lead the market over the projected period. Due to leading companies' efforts to provide products that are simple to make and easy to install, conveyors are highly preferred in the market. This is boosting the segment growth.

Automated Airport Baggage Handling System Integration at All Airports to Propel Segment Growth

In terms of mode of operation, the market is categorized into automated and manual.

The automated segment is projected to command the market over the forecast period. Rapid implementation of innovative and high-speed automated airport baggage handling systems at all airports is augmenting segment expansion.

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Regional Analysis:

Growing Focus on Airport Security to Fuel Market Growth in North America

North America is predicted to hold a major airport baggage handling system market share. Market growth in the region is driven by rising disposable income and rapid growth in intra-travel across the U.S. and Canada. Moreover, growing focus on airport security is expected to boost market growth in the region over the forecast period. As with the largest airport operations managing millions of daily travelers, The U.S. leads the adoption of baggage handling systems across North America.

Asia Pacific is set to grow progressively due to modernization of airport infrastructure in countries such as China, Japan, India, and other countries.

Competitive Landscape:

Key Companies are Improving Product Portfolios to Extend their Global Footprint

Leading companies in the market include Vanderlande Industries, Siemens AG, Alstef Group, and Ulma Holding Systems. Top market participants are concentrating on implementing various tactics to enhance the product portfolio of airport baggage handling systems.

List of the Companies Operating in the Market:

Alstef Group (France)
Beumer Group (Germany)
China International Marine Containers (Group) Ltd. (China)
C I MATEC LOGISTICA S A S (Colombia)
Daifuku Co., Ltd. (Japan)
Fives (France)
Leonardo S.p.A (Italy)
Siemens AG (Germany)
Toyota Industries Corporation (Japan)
ULMA Group (Spain)

Major Table of Contents:

Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
Executive Summary
Value Chain Analysis
Market Dynamics
- Macro and Micro Economic Indicators
- Impact of COVID-19
Competition Landscape
- Key Deals and Collaborations
- Business Strategies Adopted By Key Players
- Business Strengths of Key Players
- Consolidated SWOT Analysis of Key Players
- Global Airport Baggage Handling System Market Key Players Market Share/Ranking, 2022
Key Market Indicators
- Europe (For Countries Listed in the Scope), 2022
  - Number of Airports
  - Number of Passengers
  - Airports Classification
- Asia Pacific (For Countries Listed in the Scope), 2022
  - Number of Airports
  - Number of Passengers
  - Airports Classification
- Middle East & Africa (For Countries Listed in the Scope), 2022
  - Number of Airports
  - Number of Passengers
  - Airports Classification
Global Airport Baggage Handling System Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2019-2030
- Key Findings
- By Type (USD)
  - Destination-coded Vehicle (DCV)
  - Conveyors
  - Sorters
  - Self-bag Drop (SDB)
- By Mode of Operation (USD)
  - Automated
  - Manual
- By Region (USD)
  - North America
  - Europe
  - Asia Pacific
  - Middle East & Africa
  - Latin America
North America Airport Baggage Handling System Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2019-2030
- Key Findings
- By Type (USD)
  - Destination-coded Vehicle (DCV)
  - Conveyors
  - Sorters
  - Self-bag Drop (SDB)
- By Mode of Operation (USD)
  - Automated
  - Manual
- By Country (USD)
  - U.S.
    - Northeast
    - Midwest
    - South
    - West
  - Canada

TOC Continued...!

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