Airport Moving Walkway System Market Outlook- 2027 | Extensive Analysis of The Current and Emerging Market Trends

According to a recent report published by Allied Market Research, titled, “Airport Moving Walkway System Market by Business Type, Type, and Angle: Opportunity Analysis and Industry Forecast, 2020–2027,” the global airport moving walkway system market size accounted for $4,155.6 million in 2019 and is expected to reach $5,135.6 million by 2027, registering a CAGR of 3.0% from 2020 to 2027. In 2019, Asia-Pacific dominated the global airport moving walkway system market, in terms of revenue, accounting for about 40.5% share of the global airport moving walkway system industry, followed by North America, Europe, and LAMEA.

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In the last couple of decades, there has been a rise in the number of air travelers due to increasing in tourism and preference for traveling by air over road and rail by the middle-class population. Thus, the rise in the number of travelers has led to the construction of new airports and the expansion or renovation of the existing airports. For instance, as per the data published by The World Bank Group, there were over 70.2 million passengers in France who used airlines to travel in 2018 and the number is expected to considerably increase till 2027. Thus, France government has decided to invest around $270 million and increase the capacity of the Marseille airport by 40% by 2023. Further, China has planned to construct 216 new airports by 2035 to meet the growing demands of air travel.

Thus rise in new construction, expansion, and renovation of the airport make way for a new installation, modernization, and maintenance of airport moving walkway systems. For instance, in February 2019 it was announced that the installation of the moving walkway system will be done from terminal 1 to the parking lot of Bengaluru Airport in India. Also, Otis has signed a contract with London Gatwick Airport in February 2019 for the maintenance of 340 units of elevators, escalators, and moving walkways for a period of five years. This will help in the airport moving walkway system market growth in the forecast period

The new installation segment secured the highest share of over 40% in the global market in 2019 and the maintenance segment is expected to grow at a CAGR of over 3.5% during the forecast period. In terms of type, the pallet type segment is expected to contribute the highest airport moving walkway system market share in the coming years, as a rise in the construction of new airports and renovation of old airports is estimated to fuel its growth. The inclined segment is expected to grow at the highest CAGR during the forecast period. Inclined walkways make it easy for the commuters to carry their heavy luggage across the two floors if inclined walkways are installed. Region-wise, the airport moving walkway system market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

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Competition Analysis

Competitive analysis and profiles of the major players in the market, such as Analogue Holdings Limited (ATAL Engineering Group), Fujitec Co., Ltd, Thyssenkrupp AG, Hitachi, Ltd., Hyundai Elevator Co., Ltd., Kone Corporation, Mitsubishi Electric Corporation, United Technologies, Schindler, and Stannahare provided in this report. The key strategies adopted by key players from 2017 to 2019 include product launches, acquisitions, and joint ventures. For instance, Nippon Otis Elevator Company announced its merger with Otis Elevator Service, a fully owned subsidiary of Nippon Otis. Nippon Otis will remain as the surviving company. Thus, such strategies will give the airport moving walkway system market opportunity for growth in the forecast period.

Key Market Segments

By Business Type

New Installation
Modernization
Maintenance

By Type

Belt Type
Pallet Type

By Angle

Horizontal
Inclined

Key Players

Analogue Holdings Limited (ATAL Engineering Group)
Fujitec Co., Ltd
Thyssenkrupp AG
Hitachi, Ltd.
Hyundai Elevator Co., Ltd.
Kone Corporation
Mitsubishi Electric Corporation
United Technologies
Schindler
Stannaha

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