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Baggage Handling Systems Market Size to Grow at 7% CAGR by 2027 – Astute Analytica 
CHICAGO, UNITED STATES, February 23, 2023 /EINPresswire.com/ — Global Baggage Handling Systems Market is expected to grow at a compound annual growth rate (CAGR) of more than 7% during the forecast period 2021-2027.
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Airports use a specific form of conveyor system called the baggage handling system. It is employed to move checked luggage from the check-out areas to the area where it will be loaded aboard the aircraft. Moreover, it allows luggage to be transported from the airline to the place where it will be claimed. There are a number of technologies used by the luggage handling system, including RFID sensors and barcode scanners.
Market Dynamics
The market is expanding due to a number of factors, including the expansion of the aviation and maritime tourism industries, rising passenger and cargo traffic, accelerating smart city development, rising airport development investment, and technical improvements. High initial and ongoing expenses and system breakdowns may impede industrial expansion.
The airline business is likely to be greatly impacted by trends in population growth, global aging, and the expansion of middle-class populations in Africa and Asia-Pacific. As more travelers will from non-traditional markets owing to an increase in the people of the mid-income group, an increase in per capita income, and rising affordability, the industry is predicted to see an increase in passengers over the coming years.
The air travel and maritime tourism industries receive significant support from developing economies. For example, India's domestic aviation sector, which currently ranks third globally, is expected to overtake the UK aviation industry by 2024. According to the India Brand Equity Foundation, there were 344.70 million passengers at Indian airports in FY19, up from 308.75 million in FY18. The rising working-class people and expanding middle-class demographic are the main drivers of the growth of the Indian aviation market.
The Indian aviation sector is expanding quickly, creating profitable prospects that support the expansion of the nation's infrastructure and the creation of new airports equipped with cutting-edge technology, including smart operations and effective baggage handling systems. The involvement of the regional government greatly promotes private sector involvement. As of now, India allows foreign investment up to 49% under automatic routes for domestic, regional, and scheduled passenger flights.
Segmentation Summary
Type Segmentation Insights
In 2020, the conveyor segment held the maximum revenue of the global baggage handling system industry. Conveyors are the primary method of moving luggage in airports with little passenger activity. Airports in class C and a handful in class B employ a conveyor-style system for handling bags.
A relatively new technology used in larger airports with several terminals is the destination-coded vehicle (DCV). Primary insights indicate that DCV is currently the quickest method of moving bags. The interconnection of terminals, rise in traveler volume, and modernization of airports are all factors that have contributed to the expansion in the usage of DCVs.
Mode of Transport Segment Insights
In 2020, the airport segment dominated the global baggage handling system industry and is likely to remain dominant over the coming years. Primary observations indicate that for the next 20 to 30 years, the airport segment will continue to rule the market. China and India have become market leaders in the airport sector thanks to the government's aggressive requirements and incentives.
Tracking Technology Segment Insights
The Radio Frequency Identification (RFID) segment is likely to post the highest revenue CAGR. As airlines can successfully track luggage through all airport procedures thanks to the information provided by RFID for baggage tracking.
Regional Insights
Asia Pacific grabbed the maximum share of the baggage handling systems industry. This is due to a number of growth factors, including an increase in air traveler volume, developing national economies, and expansion of governmental enterprises in the railway, airport, maritime, and other important sectors. Moreover, with big projects costing US$ 170 billion and US$ 200 billion, respectively, the Middle East and Africa, and Asia-Pacific are seeing substantial investment in airport development and building. By 2024, India is anticipated to be the third-biggest aviation market (in terms of passengers), making Asia and the Pacific the region with the largest travel market. In the near future, Asia Pacific is anticipated to continue to rule the market thanks to such advancements.
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Prominent Competitors
Some of the popular competitors in the global baggage handling systems market are:
B2A Group
Babcock International Group PLC
Daifuku Co. Ltd.
Beumer Group
G&S Airport Conveyor
Fives Group
Grenzebach Group
Glidepath Group
Pteris Global Limited (CIMC Group)
Logplan LLC
Siemens AG
Smiths Detection Group Ltd.
Vanderlande Industries B.V.
SITA
Other Prominent Players
Segmentation Outline
The global baggage handling systems market segmentation focuses on Type, Solution, Mode of Transport, Tracking Technology, Check-in Service Type, and Region.
By Type
Conveyor
Destination Coded Vehicle (DCV)
By Solution
Check-in, Screening, and Loading
Conveying and Sorting
Unloading and Reclaim
By Mode of Transport
Airport
Railway
Marine
By Tracking Technology
Barcode System
RFID System
By Check-in Service Type
Assisted Service
Self-Service
By Region
North America
The U.S.
Canada
Mexico
Europe
The U.K.
Germany
France
Spain
Russia
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Australia & NZ
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
U.A.E.
Saudi Arabia
South Africa
Egypt
Rest of Middle East & Africa
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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Aamir Beg
Astute Analytica
+1 888-429-6757
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