A $12.4 Billion Global Opportunity for Airport Baggage Handling System by 2026

 

Amid the COVID-19 crisis, the global market for Airport Baggage Handling System estimated at US$8.4 Billion in the year 2020, is projected to reach a revised size of US$12.4 Billion by 2026, growing at a CAGR of 6.5% over the analysis period, according to a new report.

RFID, one of the segments analyzed in the report, is projected to record a 7.4% CAGR and reach US$9.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Barcode segment is readjusted to a revised 4.2% CAGR for the next 7-year period.

The Airport Baggage Handling System market in the U.S. is estimated at US$2.4 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.6 Billion by the year 2026 trailing a CAGR of 10.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR.