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Global Airport Moving Walkway System Market to Grow at a CAGR of 4.70% During 2022-2027, Aided by the Rising Air Passenger Traffic

According to a new report by EMR titled, ‘Global Airport Moving Walkway System Market Report and Forecast 2022-2027’, the market attained a value of about USD 2.27 billion in 2021. The industry is further expected to grow at a CAGR of 4.70% in the forecast period of 2022-2027 to reach a value of USD 3.01 billion by 2027.

The rising air passenger traffic, fuelled by the growing consumer interest in travel and tourism activities, and the rapid globalisation are expected to spearhead the market growth of airport moving walkway system. Reportedly, the global air passenger traffic is estimated to reach 8.2 billion by 2037. This trend is further being fuelled by the growing airport construction and expansion projects across the globe. The shorter travel time of airport moving walkways is expected to fuel their demand over the forecast period. Furthermore, the rapid technological advancements and the growing investments by the leading market players in research and development of advanced and energy efficient moving walkways are expected to propel the industry growth in the forecast years.

The growing preference of consumers for air travelling and increased expenditure by the governments in the development of airports across the world are projected to support the market growth in the forecast period. For instance, in March 2019, Schindler Elevator Corporation (OTCMKTS: SHLRF) announced the construction of the longest moving walkway in China with a length of 93 metres at the Daxing International Airport. In addition, the company completed the construction of 62 moving walkways at the airport, which would help reduce the passenger travel time.

Market Analysis by Business Type, System Type, Angle, Speed, and Region:

  • The market, based on business type, is divided into new installation, modernisation, and maintenance.
  • Based on system type, the market can be segregated into belt and pallet. 
  • On the basis of angle, the industry can be bifurcated into horizontal and inclined.
  • The industry, based on speed, can be categorised into constant moving walkways (CMW) and accelerating moving walkways (AMW).
  • The regional markets for airport moving walkway system include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising air passenger count, fuelled by the inflating disposable incomes, is driving the market growth.
  • The rapid globalisation and expanding tourism industry are propelling the growth of the industry.
  • The growing investment by the government to develop and expand airport infrastructure is likely to boost the market growth.
  • The rising expenditure by the leading market players in research and development of advanced moving walkway solutions is estimated to support the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for airport moving walkway system for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the business types, system types, angles, speeds, and regions of airport moving walkway system.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global airport moving walkway system market are FUJITEC CO., LTD., Hitachi, Ltd., HyundaiElevator Co.,Ltd., KONE Corporation, Schindler Elevator Corporation, TK Elevator GmbH, Toshiba Elevator and Building Systems Corporation, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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