PUNE, India, September 4, 2015 /PRNewswire/ --
The report "Commercial Baggage Handling System Market by Airport Class (A, B, C), Identification Technology (Barcode, RFID), Service (Self-Service, Assisted-Service), Type (Conveyors, Destination-Coded Vehicles), Efficiency, Geography - Global Forecast to 2020", published by MarketsandMarkets, it is projected to reach USD 9.36 Billion by 2020, at a CAGR of 7.72% during the given forecast period.
Browse 71 Tables and 75 Figures spread through 153 Pages and in-depth TOC on "Commercial Baggage Handling System Market"
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The baggage handling system market is classified in five major segments, namely, the Airport Class segment, which is further categorized as Class A, Class B, & Class C; the Identification Technology segment, which is further categorized as barcode and RFID; the Service Type segment, which is further categorized as self-service bag check-in and assisted service bag check-in; the BHS Type segment, which is further categorized as conveyors and destination-coded vehicles; and by the Efficiency segment, which is further categorized as below 3000, 3000 to 6000, & above 6000.
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A number of factors, such as the increase in air travel by people all over the world, modernization of airports, enhancement of airports' efficiency and customer satisfaction, and improvement of aircraft turnaround time, and others, drive the baggage handling system market. On the other hand, factors, such as complex architecture and high level of initial investment, are restricting the growth of this market. However, an increase in the passenger and cargo traffic with a limited airport space provides new growth opportunities for the market players.
The system with the above 6000 baggage processing capacity is expected to account for 49.97% of the total baggage handling system market, followed by the system with 3000 to 6000 baggage processing capacity, which is expected to account for 35.47% of the total baggage handling system market in 2015.
As of 2015, North America is estimated to hold the largest market share of the Baggage Handling System Market, in terms of the overall revenue; it is followed by Europe. The Asia-Pacific region is expected to show a substantial growth at the highest CAGR of 8.26% during the forecast period, owing to the rise in construction of new airports and increasing passenger traffic in emerging economies, such as China and India. Latin America and Africa are also showing good growth prospects, and therefore, they could provide investment opportunities for the major market players in the next five years.
The report also draws the competitive landscape of the baggage handling system market, providing an in-depth comparative analysis of the technological and marketing strategies that the key players are adopting to gain an edge over their competitors. The key strategies followed by most companies in the baggage handling system market are new product development, providing customized solutions, and mergers & acquisitions.
Siemens AG (Germany), Vanderlande Industries (Netherland), Daifuku Company Ltd (Japan), Pteris Global Limited (Singapore), Beumer Group (Germany), Grenzebach Maschinenbau GMBH (Germany), BCS Group (New Zealand), Logplan LLC (U.S.), G&S Airport Conveyor (U.S.), and Fives Group (France) are some of the major players in the baggage handling system market.
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