DUBLIN, May 11, 2023 /PRNewswire/ — The “Global Airport Baggage Handling System Growth Opportunities” report has been added to ResearchAndMarkets.com’s offering.
In 2022, airport baggage handling systems generated a revenue of $4.52 billion; this number is set to grow at a CAGR of 5.5% and reach $7.72 billion by 2032.
This research analytics covers baggage handling and baggage management, with baggage handling accounting for 87.2% of the market share.
Digital transformation of major airports and airlines working toward reducing capital loss from mishandled baggage will improve the uptake of baggage management.
APAC will experience the highest growth rate because of the opening of hundreds of new airports in China and India. The development of new airport infrastructure, including terminal buildings, will drive the demand for new baggage handling systems. In Europe and North America, the demand for baggage handling systems will primarily come from the upgrade of existing systems.
In the Middle East, the government’s focus on developing the aviation industry will foster the growth of new airports and timely updates of airport infrastructure. Latin America and Africa have higher potential for growth in the aviation industry but lack investment and government support. Sustainability will continue to drive product innovation in airport baggage handling systems.
Baggage handling companies are conducting trials at airports and partnering with technology start-ups to explore how robotics and artificial intelligence can improve process efficiency and reduce energy consumption. The enhancement of digitalization at airports makes them more prone to cybersecurity attacks. Baggage handling companies are analyzing digital twin technology to mitigate the risk of cybersecurity threats.
With the IATA 753 resolution, start-ups have mushroomed in the baggage management space; these new participants’ systems focus on not only improving the tracing and tracking of baggage but also reducing the rate of baggage mishandling. During the forecast period, baggage handling system suppliers will collaborate with start-ups to offer more bundled packages to airports.
Key Topics Covered
1. Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative
- The Impact of the Top 3 Strategic Imperatives on Airport Baggage Handling System Industry
- Growth Opportunities Fuel the Growth Pipeline Engine
2. Growth Opportunity Analysis
- Scope of Analysis
- Segmentation
- Segmentation by Region
- Flow Chart of Airport Baggage Handling System
- Flow Chart of Airport Baggage Management System
- Key Competitors
- Growth Metrics
- Growth Drivers
- Growth Restraints
- Forecast Assumptions
- Revenue Forecast
- Revenue Forecast by Industry Vertical
- Revenue Forecast by Application
- Revenue Forecast by Region
- Revenue Forecast Analysis
- Pricing Trends Analysis
- Competitive Environment
- Revenue Share
- Revenue Share Analysis
- Capacity Constraint Led to Increase in Mishandled Baggage Rate
- Usage of Technology Leads to Increase in Cyber Attacks
- New Product Innovation to Enhance Sustainability in Baggage Handling
- Implementing Lean Six Sigma Can Reduce Baggage Mishandling Rate
- Baggage Handling System Contracts – Europe & North America: 2021-2022
- Baggage Handling System Contracts – Asia-Pacific: 2021-2022
3. Growth Opportunity Analysis: Asia-Pacific
- Growth Metrics
- Revenue Forecast
- Revenue Forecast by Industry Vertical
- Revenue Forecast by Application
- Forecast Analysis
4. Growth Opportunity Analysis: Europe
- Growth Metrics
- Revenue Forecast
- Revenue Forecast by Industry Vertical
- Revenue Forecast by Application
- Forecast Analysis
5. Growth Opportunity Analysis: Latin America
- Growth Metrics
- Revenue Forecast
- Revenue Forecast by Industry Vertical
- Revenue Forecast by Application
- Forecast Analysis
6. Growth Opportunity Analysis: Middle East & Africa
- Growth Metrics
- Revenue Forecast
- Revenue Forecast by Industry Vertical
- Revenue Forecast by Application
- Forecast Analysis
7. Growth Opportunity Analysis: North America
- Growth Metrics
- Revenue Forecast
- Revenue Forecast by Industry Vertical
- Revenue Forecast by Application
- Forecast Analysis
8. Growth Opportunity Universe
- Growth Opportunity 1: Outsourcing Manufacturing and Assembling
- Growth Opportunity 2: Collaboration with Start-ups
- Growth Opportunity 3: Partnership with Vertiport Developers
For more information about this report visit https://www.researchandmarkets.com/r/4chef6
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SOURCE Research and Markets
