Airport Transit Baggage Vehicle Market - Increase in Passenger Traffic to Boost Growth | Technavio

Technavio market research analysts forecast the global airport transit baggage vehicle market to grow at a CAGR of around 6% during the period 2018-2022, according to their latest report.

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This market research report segments the global airport transit baggage vehicle market by technology (electric transit baggage vehicle, diesel transit baggage vehicle, and hybrid transit baggage vehicle) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

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In this report, Technavio analysts highlight the growth in air passenger traffic as a key factor contributing to the growth of the global airport transit baggage vehicle market:

Growth in air passenger traffic

Economic development has increased the demand for air travel in the past five years. This has encouraged airline operators to invest substantially in modernizing and increasing their ground handling fleets to meet the growing demand. The increasing preference of airlines to introduce point-to-point travel has also fueled the growth in passenger traffic as travelers can enjoy better connectivity, less traveling time, and comfort. Increasing passenger traffic is directly proportional to the growth in baggage. The demand for air travel is increasing in countries such as India, China, Indonesia, the US, and small tourist destinations. With better air service, business and leisure travel will also increase during the forecast period and reflect further economic growth in various regions.

According to a senior analyst at Technavio for commercial aviation, “Handling of baggage is a major task as the airline industry is highly competitive and is always focused on improving its brand name and attracting more passengers. Any damage to passenger baggage during handling can result in a bad image for airlines. Thus, airlines and their service providers adopt various advanced systems and vehicles.”

The timely delivery of baggage from the terminal to the aircraft baggage loading point is very essential. Any delay in the transit can lead to delay in airline operations that can result in significant losses for the aircraft.

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Global airport transit baggage vehicle market segmentation

Of the three major technology segments, the electric transit baggage vehicle segment held the largest market share in 2017, accounting for nearly 49% of the market. This segment is expected to witness tremendous growth during the forecast period.

APAC was the leading region for the global airport transit baggage vehicle market in 2017, accounting for a market share of more than 41%. The market share of this region is anticipated to increase by nearly 2% by 2022.

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