Airport Baggage Protection Market Latest Trends And Future Growth Study By 2033

Pranali Pawar

Pranali Pawar

Oct 15, 2024

5 min read

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Market Overview

The global Airport Baggage Protection Market was valued at US$ 5.5 billion in 2022 and it is anticipated to grow up to US$ 9.2 billion by 2032, at a CAGR of 5.2% during the forecast period.

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Airport Baggage Protection wraps the baggage you checked with an ultra-resistant film and provides reimbursements in the event of damage, partial theft, or unauthorized access to the case foil. Several organizations or market participants have grown and dipped into this field known as airport baggage security to avoid luggage loss, damage, or misplaced check-in at airports during the check-in process to upload the baggage for delivery. Airport baggage security is a significantly larger and more diverse retail area of the airport. The luggage wrapping stations are located within the check-in facilities. The passenger purchases the unit and applies a long-lasting plastic wrap around the container. A guaranteed film covering protects the luggage.

Market Drivers and Trends

The Airport baggage protection industry is driven by increased investment in airport infrastructure and safety and the continued expansion of international tourism via aircraft. For example, the Airport Authority of India (AAI) declared a capital expenditure of USD 3016.28 million in December 2021 for the expansion, upgrading, and modernization of airports around the country. The implications of governments implementing new airport safety measures to assess the finest and most practical options foster progress. Regarding passenger baggage screening and packing, a greater emphasis on airport safety and modern technology will contribute to the industry’s growth over the next several years. These drivers are likely to propel market expansion.

Market Restraints and Challenges

Terrorist attack risk and airport baggage security issues limit industry development potential.

Global Airport Baggage Protection Market Segmental Overview

The report analyses the global Airport Baggage Protection Market based on type, application, end-user, and region.

Global Airport Baggage Protection Market by Type

Based on type, the Airport Baggage Protection Market is segmented into plastic wrapping, and cardboard wrapping. The plastic wrapping segment is expected to dominate the market during the forecast period.

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Global Airport Baggage Protection Market by Application

By application, the market is classified into theft protection, mishandling prevention, and damage prevention. The mishandling prevention segment dominated the market in 2022 in terms of revenue and is expected to dominate the market during the forecast period.

Global Airport Baggage Protection Market by End-User

Based on end-user, the Airport Baggage Protection Market is segmented into commercial airlines, and logistics providers. In 2022, the commercial airlines segment dominated the market in terms of revenue and is expected to be the same during the upcoming years.

Geographical Analysis of Global Airport Baggage Protection Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America has the biggest market share in terms of Airport Baggage Protection Market value followed by Europe. Because of the presence of top service providers and the ongoing upgrading of existing airports in the region. Asia Pacific, on the other hand, is predicted to develop the quickest throughout the projection period, owing to factors such as rising international passenger traffic in the area and increased penetration of top service providers in the region.

Major Players in the Global Airport Baggage Protection Market

The key players studied in the global Airport Baggage Protection Market are Safe Bag Group, Secure Wrap, TrueStar Group SpA, Sealand Go, Flymate Services, Excess Baggage Group Ltd, Secure Travel, Proavia, and Daifuku Co., Ltd among others.

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COVID-19 Impact

The automobile and transportation industries have been among the most vulnerable to the Covid-19 pandemic. It had a significant influence on the automotive supply chain and the need for packaging products. In terms of economics, the COVID-19 pandemic has caused the global commercial in-service economy to contract more than in any previous crisis. By the end of May, the total size had decreased by more than 20%, with the greatest decreases occurring in areas most hit by the epidemic. Because there are fewer flights, fewer customers are already paying extra fees, and they do not desire excess services such as baggage protection, thus this business will diminish in the next years.

The growing development of aviation passenger traffic in the post-COVID era is driving the Global Airport Baggage Protection Market. In accordance with International Air Transport Association (IATA) projections, Asia-Pacific carriers increased international passenger volume by 528.8% in July 2022 compared to July 2021. Furthermore, European airlines increased by 115.6% from July 2021 levels.

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Research Scope

  • Scope – Highlights, Trends, Insights. Attractiveness, Forecast

  • Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others

  • Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain

  • Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments

  • Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis

  • Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.

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