Airport Logistics Systems Market by Offering (Airport Baggage Handling Systems, Aviation Cargo Management Systems, Services), Technology (IoT, RFID, AI/ML/DL, Scanners & Detectors, Others), and Geography - Global Forecast to 2031
(TRAVPR.COM) INDIA - September 3rd, 2024 -
Meticulous Research®, a leading global market research company, has recently published a comprehensive report titled, “Airport Logistics Systems Market by Offering (Airport Baggage Handling Systems, Aviation Cargo Management Systems, Services), Technology (IoT, RFID, AI/ML/DL, Scanners & Detectors, Others), and Geography - Global Forecast to 2031.” The report projects the global airport logistics systems market to reach a valuation of $9 billion by 2031, growing at a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031.
The airport logistics systems market is on a robust growth trajectory, propelled by several key factors. Among these are the ongoing globalization and expansion of international trade, the emergence of low-cost airlines, and significant advancements in freight security, safety, and transportation solutions. The modernization of airports to enhance baggage handling systems and the rapid growth of the e-commerce sector also play critical roles in driving market growth. Moreover, the integration of blockchain in freight management and the increasing adoption of cloud computing and big data analytics are expected to offer significant growth opportunities for companies operating in this space.
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Despite the favorable market conditions, the airport logistics systems market faces challenges, such as rising air fuel prices, increased operational expenses, and growing concerns regarding data security in management systems. Additionally, the increasing focus on autonomous vehicles in the logistics sector, the rising adoption of the Internet of Things (IoT), and the demand for air cargo digitization represent key trends that are shaping the market's future.
Market Segmentation and Insights
By Offering:
The global airport logistics systems market is segmented into airport baggage handling systems, aviation cargo management systems, and services. The airport baggage handling systems segment is anticipated to dominate the market in 2024, accounting for over 45% of the total market share. This dominance is attributed to factors such as rising passenger traffic, the integration of RFID technology for baggage tracking, and the ongoing modernization of airports.
However, the aviation cargo management systems segment is projected to register the highest CAGR during the forecast period. The segment's growth is fueled by innovations in freight visibility technologies and the increasing adoption of advanced systems to automate warehouse and operational management processes, ultimately reducing operational costs.
By Technology:
The market is also segmented by technology into IoT, AI/ML/DL, RFID, big data, robotics & automated systems, scanners & detectors, and other technologies. In 2024, the scanners & detectors segment is expected to lead the market, capturing over 35% of the global share. The large market share is driven by increasing security concerns, a growing number of airline passengers, and the need for enhanced operational efficiency at airports.
The AI/ML/DL segment is projected to experience the highest growth rate during the forecast period, driven by substantial investments in these technologies and the rising demand for integrated airport facilities that enhance operational efficiency, passenger experience, and security.
By Geography:
Geographically, Asia-Pacific is expected to dominate the global airport logistics systems market in 2024, accounting for over 40% of the total market share. The region's market growth is supported by the booming trade of goods, rapid industrialization, and the region's role as a hub for low-cost original equipment manufacturing. Moreover, Asia-Pacific is also expected to record the highest CAGR, exceeding 11.5% during the forecast period.
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Key Players
The report identifies the key players operating in the global airport logistics systems market, including:
- Daifuku Co., Ltd. (Japan)
- Siemens AG (Germany)
- Vanderlande Industries B.V. (Netherlands)
- China International Marine Containers (Group) Co. Ltd. (Pteris Global) (China)
- Champ Cargosystems S.A. (A Subsidiary of SITA) (Luxembourg)
- Beumer Group GmbH & Co. Kg (Germany)
- Unisys Corporation (U.S.)
- IBS Software Services Private Limited (India)
- Kale Logistics Solutions (India)
- ALS Logistics Solutions (UAE)
- Lödige Industries GmbH (Germany)
- Honeywell International Inc. (U.S.)
- IBM Corporation (U.S.)
- Grenzebach Group (Germany)
- Logplan LLC (U.S.)
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Key Questions Answered in the Report
- What are the high-growth market segments in terms of offering and technology?
- What is the historical market size for the global airport logistics systems market?
- What are the market forecasts and estimates for 2024–2031?
- What are the major drivers, restraints, opportunities, challenges, and trends in the global airport logistics systems market?
- Who are the major players in the global airport logistics systems market, and what are their market shares?
- What is the competitive landscape like?
- What are the recent developments in the global airport logistics systems market?
- What are the different strategies adopted by major market players?
- What are the trends and high-growth countries?
- Who are the local emerging players in the global airport logistics systems market, and how do they compete with other players?
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