Market Trends of Asia-Pacific Airport Baggage Handling Systems Industry
More than 40 Million Segment is Projected to Lead the Market During the Forecast Period
The more than 40 million segment is anticipated to lead the market during the forecast period. The growth is attributed to the increasing expenditure on the construction of airports and rising airport security concerns. The number of airports entering the above 40 million segment has increased over the years due to the steep growth of air passengers globally. The number of airports in the above 40 million segment is increasing. These numbers are expected to increase further by 2023 as several airports are enlarging their passenger handling capacity through infrastructure expansion.
In India, as the disposable income of the individual has increased, air travel has become the preferred mode of travel. Hence, to effectively serve the rapidly growing air passenger traffic in the region, some of the airports are planning to expand the customer handling capacity. For instance, in June 2022, an expansion plan for the Chennai Airport was announced wherein it will be expanded across the Adyar River to handle 50 to 60 million passengers per annum (MPPA).
China to Account for Highest Market Share During the Forecast Period
China is estimated to hold the highest shares in the market during the forecast period. The growth is due to the increasing number of air passengers and rising spending on the aviation sector. The Civil Aviation Administration of China (CAAC) is planning to construct 216 new airports by 2035 to meet the growing demands for air travel. With such a huge demand for the construction of new airports, there may be a significant demand for baggage handling systems from these airports during the forecast period.
China is planning to build airports in the Beijing-Tianjin-Hebei region, the Yangtze River Delta region, the Guangdong-Hong Kong-Macau Greater Bay Area, as well as in the cities of Chongqing and Chengdu. The Chinese airports have boosted their IT spending with a focus on equipping new airports and terminals with the latest technologies and managing growing passenger numbers by increasing both passenger and baggage handling capacities, thereby reducing waiting times.
With the increasing passenger inflow into the airports, there is an increasing focus on accurate, fast, and efficient baggage handling systems. In this regard, new and technologically advanced baggage handling systems are being installed in several airports in China. In January 2022, China experienced a new round of airport construction and expansion projects. The fourth phase of Shanghai Pudong International Airport's expansion is projected to facilitate 130 million annual passengers by 2030. Hence, rising investment in enhancing airport infrastructure and growing security concerns propels market growth across the country.
