LONDON, Sept. 22, 2016 /PRNewswire/ -- Background:
According to a new market report published by Lucintel, the future of the global commercial airport baggage handling system market looks good with opportunities in the conveyor system, scanner, and sorting device market. The global commercial airport baggage handling system market is forecast to grow at a CAGR of 4.0% from 2016 to 2021. The major drivers of growth for this market are construction of new airport terminals and the expansion of existing facilities. In this market, barcode system and radio frequency identification system (RFID) are some of the major segments. On the basis of its comprehensive research, Lucintel forecasts that the RFID segment is expected to show above average growth during the forecast period. Within the global commercial baggage handling system market, the conveyor system segment is expected to remain as the largest market.
Newly constructed and upgraded airports will be equipped with interlinked baggage conveyor system, which would spur growth for this segment over the forecast period. Europe is expected to remain the largest market due to tightening of the airport security standards and increasing investments in the terminal expansions. Asia Pacific and Rest of the World are expected to witness significant growth over the forecast period because of growth in the passenger traffic, setting up of new airports, and huge demand for airport infrastructural improvement. For market expansion, report suggests innovation and new product development to provide automatic and customized baggage handling solutions to the customers.
The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for customers. . Emerging trends, which have a direct impact on the dynamics of the industry, include the introduction of home-printed bag tag solutions to enable the passengers in printing their own bag tag at office or home, development of auto bag drop solutions, and hybrid check-in system for passengers to help the airlines in managing long queues effectively. Vanderlande Industries B.V., Siemens AG, Beumer Group, Daifuku, and Pteris Global Limited are the major baggage handling system manufacturers in the global commercial airport baggage handling system market.
Some companies are opting for merger and acquisition as strategic initiatives for driving growth. Lucintel, a leading global strategic consulting and market research firm, has analyzed opportunities in the global commercial airport baggage handling system market by sorting technology, component, and regions and has come up with a comprehensive research report, "Growth Opportunities in the Global Commercial Airport Baggage Handling System Market 2016-2021: Trends, Forecast, and Market Analysis". The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global commercial airport baggage handling system market through 2021, segmented by sorting technology, component, and regions as follows:
By Sorting Technology ($ billion from 2010 to 2021):
• Barcode System
• RFID System By Components ($ billion from 2010 to 2021):
• Conveyor System
• Destination Coded Vehicle By region ($ billion from 2010 to 2021):
• North America
• Asia Pacific
Rest of the World This report answers following 11 key questions:
• Q. 1 What are some of the potential, high-growth opportunities are for commercial airport baggage handling system market by sorting technology, components, and regions?
• Q. 2. Which segments will grow at a faster pace and why?
• Q. 3. Which region will grow at a faster pace and why?
• Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
• Q.5. What are the business risks and threats of this market?
• Q.6 What are emerging trends in this market and reasons behind them?
• Q.7 What are some changing demands of customers in the market?
• Q.8 What are the new developments in the market? Which companies are leading these developments?
• Q.9 Who are the major players in this market? What strategic initiatives are taken by key players for business growth?
• Q.10 How is the competitive rivalry and threat of substitution in this market?
• Q.11. How many M & A activities happened during last 1- 2 years and what are their impacts?
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