carry-on vs baggage

carry-on and baggage both are nouns.

Word	Noun	Adjective	Verb	Adverb
carry-on	Yes	No	No	No
baggage	Yes	No	No	No

As nouns, baggage is a hypernym of carry-on; that is, baggage is a word with a broader meaning than carry-on:

carry-on: That luggage or baggage which is taken onto an airplane with a passenger, rather than checked
baggage: cases used to carry belongings when traveling

Other hypernyms of carry-on include luggage.

carry-on (noun)	baggage (noun)
That luggage or baggage which is taken onto an airplane with a passenger, rather than checked	cases used to carry belongings when traveling
	the portable equipment and supplies of an army
	a worthless or immoral woman