Global airport transit baggage vehicle market to grow at a CAGR of 5.99% during the period 2018-2022.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is collective pooling of airside equipment. Airports use ground handling vehicles processes, of which baggage handling vehicles from a major part. Conventionally, these are owned or leased by individual ground handlers through contracts with various airlines.
According to the report, one driver in the market is growth in air passenger traffic. Economic development has raised the demand for air travel in the past five years. This has led airline operators to significantly invest in modernizing and increasing their ground handling fleets to meet the growing demand.
Further, the report states that one challenge in the market is unexpected delay in airport construction. New airport construction is time-consuming and is usually carried out in phases. It involves significant investment and, on several occasions, gets delayed due to its large supply chain.