The smart baggage handling system market is on a rapid growth trajectory, with experts projecting a robust Compound Annual Growth Rate (CAGR) of 19.9% from 2022 to 2032. In 2022, revenues soared to an impressive USD 4.6 billion and by 2032, the market is forecasted to reach a staggering USD 27.9 billion.
Handling baggage might seem straightforward at smaller airports, but it becomes considerably more complex in remote locations, often leading to high costs and subpar service quality. The surge in air travelers passing through terminals has significantly increased the volume of luggage, prompting airports like Sky Terminal to adopt automated solutions for faster processing.
Today’s baggage handling systems, operated by both airports and airlines, have revolutionized the process, freeing up ground personnel and enhancing passenger satisfaction. These advanced systems boast organized baggage displays, swift sorting mechanisms, and efficient tracking and analysis capabilities, all contributing to a safer travel experience.
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The overall objective of the smart baggage-handling system is to make the whole operation more cost-effective. Automation makes a big contribution to quicker turnaround times. Mechanisms ensure that the baggage of the appropriate passenger goes to the required airplane with the right cargo.
Key Takeaways from the Market Study
- Global Smart Baggage Handling System Market is expected to reach a market size of USD 3.8 Bn by 2021.
- In terms of Technology, the Radio Frequency Identification (RFID) segment is expected to have the highest CAGR rate of 21.8% during the forecast period.
- In terms of Solution, Conveying is expected to account for the highest CAGR of 20.5% during the forecast period.
- United States is projected to remain the most dominant market with an absolute dollar growth opportunity of USD 9.7 Bn during 2022 – 2032.
- The market in U.S is set to experience the highest CAGR of 21.7% during the 2022-2032 forecast period.
Competitive Landscape
The Smart Baggage Handling System Market is highly concentrated, with only a few competitors accounting for the vast majority of market share. These companies are raising their profits as well as market shares through smart joint projects. Some development in this Smart Baggage Handling System Market include:
- In January 2020, Siemens Logistics’ bid to implement a newer hold baggage screening systems at Dublin Airport’s Terminal 2 was successful. The contract calls for the replacement of the current HBS as well as the installation of an extra line to improve capacity even more. This project presents a unique difficulty in that it must be completed without interfering with routine flight operations or passenger operations.
- In April 2020, Vanderlande was named Heathrow Airport’s strategic baggage supplier for another ten years. The newly inked ‘pan-airport’ agreement will include the Terminals’ operation, design, build and maintenance programs, as well as smart baggage control room services. Both organizations will collaborate to further create an integrated strategy that will expand on their existing connection.
Key Players
- SITA
- Vanderlande Industries Private Limited
- Diafuku Co.
- Siemens Group
- Beumer Group
- Smiths Detection
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Smart Baggage Handling System Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Smart Baggage Handling System Market in terms of Type of Transportation (Airport, Railway Station), Technology (Barcode System, Radio Frequency Identification), Solution (Sorting, Conveying, Tracking and Tracing, Diverting, Others), and across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).
Market Segments Covered in Smart Baggage Handling System Market Analysis
By Type of Transportation:
- Airport
- International
- Domestic
- Railway Station
By Technology:
- Barcode System
- Radio Frequency Identification (RFID)
By Solution:
- Sorting Smart Baggage Handling Systems
- Conveying Smart Baggage Handling Systems
- Tracking and Tracing Smart Baggage Handling Systems
- Diverting Smart Baggage Handling Systems
- Other Smart Baggage Handling Systems
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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