The Asia Pacific baggage handling system market is anticipated to rise with a CAGR of 7.00% during the forecast period of 2019-2027. The market has been valued at $XX million in the year 2018 and is expected to rise to a revenue of about $XX million by the year 2027. The growth in the air travel industry is the main driver for the market.
The Asia Pacific market for baggage handling systems is influenced by the trends in the economies of China, India, Japan, South Korea, Australia and the remaining countries forming the Rest of APAC regional segment. The Asia-Pacific aviation sector is the fastest-growing market in the world and accounts for the highest number of aircraft orders among all the regions. Increase in disposable incomes and connectivity in some of the developing nations, such as India, Vietnam, and China, have given the necessary impetus to the market. These markets are expected to lead the growth in the forecast period.
Siemens AG, Grenzebach Group, Smith Detection, Babcock International, Fives Group, Ansir Systems, G&S Airport Conveyor, Vanderlande Industries B.V., Sita, Logplan, Glidepath Group, Beumer A/G, Pteris Global Limited (CIMC Group), Alstef, and Daifuku Co. Ltd. are the major companies operating in the baggage handling systems market.