The new report by Expert Market Research titled, ‘Global Airport Moving Walkway System Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global airport moving walkway system, assessing the market based on its segments like business type, system type, angle, speed and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 2.27 billion
- Forecast CAGR (2022-2027): 4.70%
- Forecast Market Size (2027): USD 3.02 billion
The pallet type section of the airport moving walkway system industry accounts for a large share based on the type. This is due to the product’s great endurance and toughness, which has led to its increased deployment at airports. Pallet style travelators are essentially flat elevators that are made up of a series of metal plates that are connected to form a continuous walkway that allows passengers to easily stroll or stand.
Due to an increased emphasis on establishing new airports and airport expansion projects across the region, the Asia Pacific region is likely to have substantial growth over the projection period. This can be linked to the government’s increasing investment in infrastructure development in the country. Additionally, increased air passenger traffic in major regional countries such as China, India, and Japan is likely to drive market expansion in the coming years.
Industry Definition and Major Segments
A moving walkway is a slow-moving conveyor system that transports passengers over a short to the medium distance across a level or inclined surface. An auto walk, moving pavement, moving sidewalk, people-mover, or travelator is another name for it. These pathways are found in places with a lot of foot traffic, such as airports, train stations, and metro stations. To help in to and fro mobility, these are frequently put in pairs.
By business type, the market can be segmented into:
- New Installation
- Modernisation
- Maintenance
Based on system type, the market can be segregated into:
- Belt
- Pallet
On the basis of angle, the industry can be bifurcated into:
- Horizontal
- Inclined
The industry, based on speed, can be categorised into:
- Constant Moving Walkways (CMW)
- Accelerating Moving Walkways (AMW)
The regional markets for the product include:
- North America
- Europe
- the Asia Pacific
- Latin America
- the Middle East and Africa
Market Trends
The surge in air passenger traffic as a result of the expanding travel and tourist business, as well as increased globalisation, is expected to fuel the growth of the airport moving walkway system industry. Global aviation passenger traffic is expected to reach 8.2 billion people by 2037, about double what it was in 2017. Another crucial element driving market growth is governments’ increased attention to the airport building and extension projects in major nations throughout the world. With new airport construction and terminal development projects, worldwide airport investments are estimated to exceed USD 45 billion by 2022.
The shorter travel time afforded by airport moving walkway systems is predicted to boost demand throughout the airport facilities over the projection period. Furthermore, because accelerating airport moving walkways (AMW) are simpler to manage than constant moving walkways, they have garnered a lot of traction, which is expected to fuel market expansion in the approaching years.
Key Market Players
The major players in the market are FUJITEC CO., LTD., Hitachi, Ltd., HyundaiElevator Co., Ltd., KONE Corporation, Schindler Elevator Corporation, TK Elevator GmbH, and Toshiba Elevator and Building Systems Corporation. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.