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(I-AutoNewsWire.com, August 13, 2022 ) According to this latest publication from Meticulous Research®, the global airport logistics systems market is expected to grow at a CAGR of 10.3% from 2018 to reach USD 14.14 billion by 2025, driven by factors such as globalization and strong growth in international trade; advancements in freight security, safety, and transportation solutions; entry of low cost airlines; and growth in communication technologies and Internet of Things (IoT) adoption. Moreover, green freight, blockchain in freight management, and cloud and big data analytics are the key factors providing significant opportunities in this market.
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On the basis of product, the global airport logistics market is segmented into airport baggage handling systems and air cargo management systems broadly. Airport baggage handling systems segment are further segmented into sorting devices, scanners, conveyors, and destination coded vehicles. Sorting devices hold the largest share of the airport baggage handling systems market. However, conveyors are expected to grow at the fastest growth rate owing to increasing airport passengers, automation in the conveyor belt technologies, modernization of airports, and rising digitization.
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Air cargo management systems are further segmented into warehouse and operation management systems, freight information systems, and aviation cargo screening systems. The warehouse and operation management systems segment accounted for the largest share of the air cargo management systems market, whereas freight information systems will witness the fastest growth during the forecast period owing to the advancements in IT solutions.
Geographically, North America commanded the largest share of the global market in 2017, followed by Asia Pacific and Europe. The largest share of this region is mainly attributed to the factors such as increasing demand for the state-of-the art airport infrastructure, rising demand for warehouse management and operations to manage air cargo, growth in the air cargo traffic, and high demand for fast moving baggage systems. However, Asia Pacific comprising of China, India, Korea, Japan, and Rest of Asia Pacific (RoAPAC) will witness the fastest growth during the forecast period.
The major players operating in this market are Siemens AG, Vanderlande industries, Daifuku, CHAMP Cargosystems, Beumer Group, Unisys Corporation, IBS Software Solutions, CIMC Group, Kale Logistics Solutions, and ALS Logistics Solutions among others.