TMCnet News
Baggage Handling System Market worth $10.3 billion by 2025 - Exclusive Report by MarketsandMarkets™CHICAGO, Dec. 4, 2020 /PRNewswire/ -- According to the new market research report "Baggage Handling System Market by Mode (Airport, Marine, Rail), Solution (Check-In, Screening & Load, Conveying & Sorting, Unload & Reclaim), Check-In (Assisted, Self), Conveying (Conveyor, DCV), Tracking (Barcode, RFID), Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Baggage Handling System Market is projected to reach USD 10.3 billion by 2025 from USD 7.5 billion in 2020, at a CAGR of 6.6%. The growing focus on improving air connectivity and the development of intermodal transport will drive the Baggage Handling System Market. Additionally, the rising smart city projects and the growing maritime industry are also expected to drive the demand for baggage handling systems. Factors such as complex architecture and high level of initial investments are restricting the growth of this market. However, an increase in passenger and cargo traffic with a limited airport space provides new growth opportunities for the market players.  Browse in-depth TOC on "Baggage Handling System Market" Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id= 222241953 Conveying and sorting to be the largest segment, by solution. 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. RFID system to be the fastest growing segment for Baggage Handling System Market, by tracking technology The airline industry is a customer service oriented industry, which leads to immense competition. Today, the key challenge for the airport industry is to reduce baggage mishandling. Baggage mishandling can lead to customer dissatisfaction. According to the Ministry of Civil Aviation, between November 2016 and June 2018, domestic Indian airlines received 763 grievances related to baggage—the fourth highest after complaints about flight delays, ticket fares, and check-in and boarding. In response to that, companies and authorities are focusing on the development of an effective baggage handling system. For instance, th International Air Transport Association (IATA) has been working toward 'Resolution 753'. RFID systems have a better coverage area than barcode systems and do not need to be positioned in the line of sight for scanning. The RFID system segment is expected to show strong growth in the coming years, with Resolution 753 mandates. However, according to primary insights, Resolution 753 will never discard barcode systems completely Request FREE Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id= 222241953 Asia Oceania to be the largest market for baggage handling systems. Asia Oceania is expected to provide lucrative opportunities in the Baggage Handling System Market. Factors such as strong economic growth, increasing focus on development of smart cities, and favorable government policies for improving air connectivity 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 total Asia Oceania Baggage Handling System Market. Additionally, with a significant focus of the government on the development of new airports, India is expected to play a key role in the baggage handling system industry in the Asia Oceania region. For instance, the Indian government plans to construct 100 new airports with an investment of about USD 60 billion in the next 10–15 years. On the other hand, Europe and the Americas have matured markets for baggage handling systems. 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. In India, Delhi's IGI airport terminal expansion project has been delayed. The timeline of terminal expansion plan has been impacted by COVID-19 due to lockdown and shortage of workers. Therefore, the deadline is likely to shift from mid-2020 to the end of 2023. Thus, the demand for baggage handling systems is expected to increase post-COVID-19 after the resumption of projects. However, with the introduction of lockdown relaxations in India, passenger traffic improved in the second half of the year, thereby contributing to the transportation sector. Similarly, in September 2020, according to the National Development and Reform Commission (NDRC), China has resumed the construction of all major railway projects, followed by 87% resumption of airport construction projects. This is anticipated to contribute to the demand for baggage handling systems in China during the forecast period. The Baggage Handling System Market is dominated by few global players and comprises several regional players as well. The key players in the Baggage Handling System Market are Siemens (Germany), Vanderlande Industries (Netherlands), Daifuku (Japan), Pteris Global Limited (Singapore), BEUMER (Germany), and SITA (Switzerland). Browse Related Reports: Conveyor System Market by Industry (Warehouse & Distribution, Food & Beverage – Meat, Poultry & Dairy, Automotive, Electronics, Mining, and Airport), Type (Belt, Roller, Overhead, Floor, Pallet, Crescent, Cable, Bucket) & Region - Global Forecast to 2025 Cargo Handling Equipment Market by Application (Air, Land, & Marine), Equipment (Conveyors, Forklift Truck, Aviation Dolly, Pallet Jack, AGV, Crane, RTG, Loader, Stacker, Straddle Carrier, Terminal Tractor), Propulsion, and Region - Global Forecast to 2025 About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg 
|