Global Baggage Handling System Market Is Projected To Grow At a CAGR of 6.9%, From USD 10.9 Billion By 2027.

The baggage handling system market is projected to grow at a CAGR of 6.9%, from USD 7.5 billion in 2020 to USD 10.9 billion by 2027. The growing emphasis on optimising airport operating performance, the number of air passengers and major advances in intermodal transport are the key factors driving the demand for baggage handling market.

Asia Oceania is expected to have the largest share of the market. The demand for baggage handling systems in the area has been triggered by factors such as the rising number of air travellers, upcoming airport projects, the involvement of the cruise industry, the potential for multimodal transport, the economy of countries, government spending in rail, marine and airport projects, customer approval and government regulations. 

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Due to the high acceptance of airways as a mode of transport, the number of airports across the globe is increasing. The key reason for the adoption of air travel is the improvement of airport facilities by using technical innovations such as the incorporation of the baggage handling system with RFID technology, the robotic baggage handler system developed by AI, etc. In June 2016, for example, SITA released a self-propelling luggage robot called Leo with a carrying capacity of 32kgs. The first use of Leo was at Geneva Airport in Switzerland.

In 2037, the International Air Transport Association (IATA) stated that airline passenger numbers will be about 8 billion. Due to factors such as sustained economic growth, favorable population trends, demographic profiles, and improved household incomes, passengers travelling via airways have risen in recent years. Airport authorities are investing heavily in baggage handling equipment and new services that will improve passenger service, taking these considerations into account. This business growth is then motivated by sudden rises in passengers commuting via airways.

Manufacturers are spending aggressively in order to give their clients quality services. However, in terms of creativity in the baggage transport infrastructure, technical advancement needs further spending. Due to factors such as large numbers of passengers and low safety, the railway industry is facing a problem of investing in a smart baggage handling system. 

Key Market Players:

•   Siemens (Germany)

•   Vanderlande Industries (Netherland)

•   Daifuku Company (Japan)

•   Pteris Global (Singapore)

•   Beumer Group (Germany)

•   Grenzebach Maschinenbau (Germany)

•   BCS Group (New Zealand)

•   Logplan (US)

•   G&S Airport Conveyor (US)

•   Fives Group (France)

Source: VynZ Research