According to new research, the airport logistics systems market is expected to reach $US9bn by 2031.
Market research company Meticulous Research has released a report detailing projections for market growth, forecasting a compound annual growth rate (CAGR) of 9.8 per cent between 2024 and 2031.
The increasing number of low-cost carriers, advancements in freight security, safety and transport solutions, and airport modernisation programmes are tipped to boost this growth – alongside wider influences, including globalisation and robust increases in international trade.
Key drivers also include the rapid growth of the e-commerce sector and the adoption of blockchain solutions for freight management, and cloud and big data analytics tools, the research found.
Meticulous Research said the aviation industry is experiencing “significant strides in operational areas” such as aircraft turnarounds, flight planning and baggage management, and that the increasing complexity of baggage handling means players are prioritising airport modernisation to improve these operations.
Meanwhile, airports are adopting “diverse technologies” such as robotics for sorting and loading, automated guided vehicles (AGVs) for transportation, RFID tags and barcode systems to provide real-time updates on baggage location and status to passengers.
These technological advancements are anticipated to bolster the growth of the market through the forecast period.
The report states: “E-commerce has revolutionised the logistics industry. The rise in online shopping trends and shifting consumer preferences towards fast deliveries present growth opportunities for the airport logistics systems market.
“Faster delivery is a major consumer expectation… Thus airports require efficient systems to move parcels quickly.
“This creates demand for airport logistics systems to automate sorting, improve cargo tracking and handle the increased cargo volume without delays.”
Meticulous Research said the Asia-Pacific region is expected to account for 40 per cent of the market – the largest share of any other region – by the end of 2024, and is predicted to see “optimistic growth” through the forecast period.
The region’s anticipated market dominance is being driven by its growing goods trade, rapid growth in industrial manufacturing and low-cost original equipment manufacturing.
According to the Association of Asia Pacific Airlines (AAPA), increasing volumes of air cargo is mainly due to a sustained increase in the global trade for consumer and intermediate goods.
Among the key players in the airport logistics systems market are Siemens, Champ Cargosystems, Beumer Group, IBS Software, Lödige and Honeywell.
