Baggage tractors are designed to transport baggages/cargo between the aircraft and the terminal facility, efficiently. Electric baggage tractor is becoming the new standard in zero-emission solutions, suiting a wide range of applications, from airport baggage handling to industrial uses. Its AC technology enables progressive acceleration, high speed over long distances, and overall better towing performance.
Key Drivers of Baggage Tractor System Market
Demand for air transport has increased steadily for the last few years owing to rising GDP, disposable income, living standards, reduced air travel costs, and globalization, which has led to an increase in the number of airports and movement of people, goods, and services between cities and countries. Consequently, this has been driving the adoption of baggage handling equipment, such as baggage tractors, for the last few years owing to the convenience and comfort achieved in transporting the baggage.
The COVID-19 pandemic has affected national as well as international automotive supply chains, manufacturing, and R&D operations and consequently, hampered the automotive industry. Post first wave of COVID-19, global economies have started opening up automotive manufacturing and supply chain operations, thus the COVID impact on the industry have seems to reach a state of normalcy; however, a resurgence in COVID-19 cases in countries across Europe has prompted governments to impose a second round of lockdown restrictions and hence, the uncertainty in the automotive industry continues. A gradual recovery in the demand for automotive and ancillaries is anticipated in the next few months despite concerns around the risk of a second wave of infection in numerous countries and other geopolitical risks.
Opportunities in Baggage Tractor System Market
Expansion of e-commerce businesses has prompted customers to expect highly rapid delivery times. Therefore, a single-piece or multi-order picking should be quick and easy. Dedicated tractor and trolley solutions with adjustable compartments for cases or loose items make it easier to sort orders while picking. Baggage tractors can also be used to transport large and small quantities of items stock within the warehouse location. Therefore, expansion of the e-commerce industry is estimated to propel the baggage tractor market.
North America Region Dominate Baggage Tractor System Market
Asia Pacific is a major region of the global baggage tractor, owing to a rise in air travel in the region at above the trend rate for the last five years. China is a rapidly expanding passenger air market of any country in the world; according to the International Air Transport Association (IATA), China is likely to produce an additional 2.1 billion travelers a year by 2036, which is more than double of present volumes, accounting to more than half of the projected growth for the entire world. India has been projected to be the second-fastest-growing country in the world for passenger traffic. The Airports Council International (ACI) in its traffic forecasts for the period 2017 to 2040, states that the country is expected to cater to 520 million passengers by 2037. The Government of India has been working towards increasing the number of airports in order to cater to the rising air traffic. As of March 2019, India had 103 operational airports. India has pictured increasing the number of operational airports to about 190-200 by 2040. Therefore, rapid industrialization and urbanization in the region is projected to drive passenger travel and eventually fuel the demand for rapid and efficient baggage handling infrastructure. This is likely to transform Asia Pacific into a prominent market for baggage tractors.
Key Players Operating in Baggage Tractor System Market
The global baggage tractor system market is fragmented with limited players. A few of the key players operating in the global baggage tractor system market are:
