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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.
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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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