The baggage handling system market is projected to grow at a CAGR of 6.6%, from USD 7.5 billion in 2020 to USD 10.3 billion by 2025. The increasing focus on improving operational efficiency at airports, growing air passenger volume, and significant developments in intermodal transport are the major factors which will drive the baggage handling system market.
The conveying and sorting segment is expected to be the largest contributor in the baggage handling system market, by solution, during the forecast period.
The conveying and sorting segment is projected to lead the baggage handling system market, by solution. According to primary insights, sorting is the heart of the total baggage handling system. The exponential increase in air and marine passenger volume for domestic and international travels worldwide has encouraged baggage handling system manufacturers to find ways to improve existing baggage handling technologies with automated sorting. According to Société Internationale de Télécommunications Aéronautiques (SITA), with a rise in automation reflected in increasing use of conveyor systems, the rate of baggage mishandling reduced in 2018 compared to 2017.
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The conveyor type of baggage handling system is estimated to be the largest market during the forecast period.
The conveyor segment is projected to the lead the baggage handling conveyor system market, by type. Airports with low passenger traffic use conveyors as the prime transportation medium for baggage. Class C and a few class B airports use the conveyor type baggage handling system. Destination coded vehicle (DCV) is a relatively new technology used in bigger airports with multiple terminals. According to primary insights, DCV is currently the fastest way to transport luggage. The growth in the adoption of DCVs can be attributed to the interlinking of terminals, increase in passenger traffic, and upgrading of airports.
In mode of transport, the airport segment is projected to be the largest contributor during the forecast period.
The baggage handling system market for airports is estimated to account for the largest market share during the forecast period. Airports contribute almost 95% share of the market. According to primary insights, the airport segment will continue to dominate the market in the next 20–30 years. With aggressive incentives and mandates from the government, India and China have established themselves as leaders in the airport industry. Airport baggage handling systems play an important role in the global economy as they attract many suppliers and manufacturers for business investments. The growth of this market can also be attributed to the increasing percentage of air passenger traffic worldwide. According to the International Air Transport Association (IATA), the global annual average air passenger journeys are projected to grow by about 3.8% from 2014 to 2034. The airports must be equipped with the latest technologies of baggage handling systems, which can manage the movement of baggage in and out of the check-in and checkout points at airports.
Asia Oceania is expected to account for the largest market size during the forecast period.
Asia Oceania is projected to hold the largest market share. Factors such as growing air passenger volume, upcoming airport projects, presence of cruise industry, scope for multimodal transport, economy of countries, government investments in railway, marine, and airport projects, consumer acceptance, and government regulations have triggered the demand for baggage handling systems in the region. Due to the ever-growing air passenger traffic, China accounts for the highest market share of the Asia Oceania baggage handling system market. Additionally, China has curbed the spread of the virus in the early second quarter of 2020, and hence, the recovery started than other countries like India and Southeast Asian countries.
Key Market Players
The baggage handling system market is dominated by few global players and comprises several regional players as well. The key players in the market are Siemens (Germany), Vanderlande Industries (Netherlands), Daifuku (Japan), Pteris Global Limited (Singapore), BEUMER (Germany), and SITA (Switzerland).
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