Global baggage handling system market is estimated to grow with 7.50% CAGR during the forecasting years of 2019-2027. The market is anticipated to grow to $16,425 million by 2027. The base year considered for the study is 2018, and the estimated period is between 2019 and 2027.
Various automated carts, conveyors, destination coded vehicles, and other various mechanisms make up the baggage handling system.
The growth in the air travel industry, upgradation of airports, increase in technological innovations and increasing security concerns are the major driving factors for the market. Growth in the air travel industry is the main driver for the market. The current air travel market is growing, and the passenger number travelling by air has also increased. This is mainly due to the growing global economy and the need for faster means of transport. Airports and airlines invest heavily in baggage handling technology as it increases the efficiency of airports management. The market growth is restrained by the high investment required for baggage handling system & problems associated with system failure.
The report on global baggage handling system market includes segmentation on the basis of geographical regions as well, which are North America, Europe, Asia Pacific and the remaining countries forming the Rest of World. The fastest growing market hails from the Europe region. United Kingdom, France, Italy and Germany are the major contributors to the baggage handling system market; however, Russia faced a high rise in passengers due to recent hosting of the FIFA World Cup 2018, due to which they expanded the airport terminals and installed new baggage handling units in order to minimize the check-in time of passengers.
Smith Detection, aGrenzebach Group, Pteris Global Limited (CIMC Group), Glidepath Group, Siemens AG, Ansir Systems, Vanderlande Industries B.V., Babcock International, Fives Group, G&S Airport Conveyer, Daifuku Co. Ltd., Beumer A/G, Logplan, Sita, and Alstef are the major companies operating in the market.