Press release
Airport Moving Walkways Market Report 2024: Strategies And Recent Developments
Airport Moving Walkways Market
The Business Research Company offers in-depth market insights through Airport Moving Walkways Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The airport moving walkways market size has grown strongly in recent years. It will grow from $2.32 billion in 2023 to $2.44 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to increased passenger traffic and congestion in airports, integration with smart airport technologies, demand for contactless and hygienic travel solutions, urbanization and growth of mega-cities driving airport expansion, government initiatives and funding for airport modernization.
The airport moving walkways market size is expected to see strong growth in the next few years. It will grow to $2.99 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to emphasis on passenger experience and terminal aesthetics, integration with smart airport technologies, demand for contactless and hygienic travel solutions, urbanization and growth of mega-cities driving airport expansion, government initiatives and funding for airport modernization. Major trends in the forecast period include energy-efficient and sustainable designs, technological advancements in moving walkway systems, incorporation of iot and smart connectivity, design customization and aesthetics, integration with airport information systems.
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Market Segmentation:
The main types of airports moving walkways are belt type and pallet type. The belt-type moving walkways are built with mesh metal belts or rubber walking surfaces over metal rollers. These can either be inclined or flat and are generally used in airports, metro terminals, or shopping malls. The various inclination angles of airport moving walkways are horizontal and inclined, which are divided by various business types into new installation, modernization, and maintenance. The types of speed for airport moving walkways are constant moving walkways (CMW) and accelerating moving walkways.
Major Driver - Rising Air Passenger Numbers Fuel Airport Moving Walkways Market
The growing number of air passengers is expected to propel the growth of the airport moving walkways market. In most cases, passengers at the airport carry heavy luggage with them, and they are required to move a distance. In such cases, moving walkways act as passageways between the terminals, within particularly long concourses, or as access to a parking facility. For instance, according to the International Civil Aviation Organization (ICAO), a specialised agency of the United Nations, the global number of airline passengers is expected to reach 10.5 billion by the year 2040. Therefore, the growth in the number of airline passengers is driving the growth of the airport moving walkways market.
Competitive Landscape:
Major companies operating in the airport moving walkways market include Fujitec Co. Ltd, Hitachi Ltd., Hyundai Elevator Co. Ltd., Kone Corporation, Mitsubishi Electric Corporation, Otis Elevator Company, Schindler Holding AG, Stannah Lifts Holdings Ltd., Thyssenkrupp AG, Toshiba Elevator and Building Systems Corporation, United Technologies Corporation, Wirtgen Group, Orona Group S. Coop., VGSI Elevator LLC., Teknic Elevators PPG Pvt. Ltd., Sigma Elevator Company, Wittur Group, Canny Elevator Co. Ltd., IFE Elevators Co. Ltd., Doppler S.A., SJEC Corporation, Wittur Group S.p.A., Aljo Elevator, Express Lift Co. Ltd., Shanghai STEP Electric Corporation, ZIEHL-ABEGG SE, LEHYER GmbH, VDA Group, Luceco Electric Company Ltd., Ningbo Xinda Group Co. Ltd.
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Top Trend - Partnerships Drive Advancements In The Airport Moving Walkway Marke
Partnership and collaboration are key trends gaining popularity in the airport-moving walkway market. The companies operating in the airport moving walkways market are partnering with research companies to improve the operational capabilities and performance of their existing products. For instance, in December 2021, Accessibility Standards Canada (ASC), a federal research organization, collaborated with the Canadian Standards Association (CSA) Group for the purpose of adding CSA B651, a new edition of a national accessibility standard for the built environment. The new edition will include updates on the exterior environment, circulation (including elevators, escalators, and moving walkways), tactile walking surface indicators, interior rooms (including washrooms and kitchens), and emergency egress.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Airport Moving Walkways Market Characteristics
3. Airport Moving Walkways Market Trends And Strategies
4. Airport Moving Walkways Market - Macro Economic Scenario
5. Airport Moving Walkways Market Size And Growth
…..
27. Airport Moving Walkways Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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