Press release
Airport Moving Walkway Systems Market growing at a CAGR of 4.4% and is projected to reach $3.4 billion by 2031
According to a report published by Allied Market Research, titled "Airport Moving Walkway Systems Market," the market size was valued at $2.2 billion in 2021 and is projected to reach $3.4 billion by 2031, growing at a compound annual growth rate (CAGR) of 4.4% from 2022 to 2031. In 2021, Asia-Pacific dominated the global airport moving walkway systems market, accounting for approximately 38% of the total revenue, followed by North America, Europe, and LAMEA.
๐๐ผ๐๐ป๐น๐ผ๐ฎ๐ฑ ๐ฃ๐๐ ๐ฆ๐ฎ๐บ๐ฝ๐น๐ฒ ๐๐ผ๐ฝ๐@ https://www.alliedmarketresearch.com/request-sample/A06194
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The past two decades have witnessed a significant increase in the number of air travelers, primarily due to a surge in tourism and a growing preference for air travel over road and rail, especially among the middle-class population. The rise in passenger traffic has led to the construction of new airports and the expansion or renovation of existing ones. For instance, in January 2023, data from the Air France-KLM Group indicated that approximately 44.7 million passengers boarded an Air France-KLM flight in 2021. Additionally, the French government planned to invest around $270 million to expand the capacity of Marseille Airport by 40% by 2023. China has also announced plans to construct 216 new airports by 2035 to meet the growing demand for air travel. Such developments are expected to drive the demand for moving walkway systems in airports worldwide.
The increase in airport construction, expansion, and renovation directly translates into new installations, modernization, and maintenance of airport moving walkway systems. Companies are actively engaging in contracts and acquisitions to strengthen their market position. For example, in October 2022, Alstom signed a five-year contract with Jeddah Airports Company to provide operations and maintenance services for King Abdulaziz International Airport Terminal 1. Similarly, in March 2022, Mitsubishi Electric Corporation acquired Sweden-based Motum AB, a company specializing in elevator and automatic door services. This acquisition aims to enhance Mitsubishi Electric's capability in servicing and modernizing elevators and escalators, including walkway systems, in Sweden and other parts of Europe. The maintenance of existing walkway systems is crucial to sustaining airport efficiency, further fueling market growth during the forecast period.
The outbreak of COVID-19 significantly impacted the global airport moving walkway systems market, causing a temporary halt in logistics and manufacturing activities. Supply chain disruptions and lockdowns led to reduced operations in the sector, hindering market growth. However, as governments worldwide eased restrictions and resumed business activities, the market began recovering. By 2021, with the availability of COVID-19 vaccines and the gradual reopening of economies, airport projects resumed, leading to an increase in demand for moving walkway systems.
๐๐ป๐พ๐๐ถ๐ฟ๐ฒ ๐๐ฒ๐ณ๐ผ๐ฟ๐ฒ ๐ฝ๐๐ฟ๐ฐ๐ต๐ฎ๐๐ฒ@ https://www.alliedmarketresearch.com/purchase-enquiry/A06194
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The airport moving walkway systems market is segmented based on business type, type, angle, and region.
By Business Type:
New Installation
Modernization
Maintenance
The new installation segment held the highest market share of over 46% in 2021, primarily due to the increasing construction of new airports and expansion projects. However, the maintenance segment is expected to experience the fastest growth, with a projected CAGR of over 5.3% during the forecast period.
By Type:
Belt Type
Pallet Type
Among these, the pallet-type segment is anticipated to hold the highest market share in the coming years, driven by the ongoing construction and renovation of airport facilities.
By Angle:
Horizontal
Inclined
The horizontal segment contributed the highest revenue in 2021, as horizontal walkways are more commonly used in large airports to facilitate passenger movement over long distances.
By Region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
Asia-Pacific leads the global market due to increased investments in airport infrastructure and growing air travel demand. LAMEA is expected to exhibit the highest CAGR during the forecast period, driven by ongoing urbanization and development in the Middle East and Latin American regions.
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Major players in the airport moving walkway systems market include:
Analogue Holdings Limited (ATAL Engineering Group)
Fujitec Co., Ltd.
Toshiba Elevator and Building Systems Corporation
Hitachi, Ltd.
Hyundai Elevator Co., Ltd.
Kone Corporation
Mitsubishi Electric Corporation
Raytheon Technologies Corporation
Schindler
Stannah
These companies employ strategies such as acquisitions and product launches to enhance their market presence and provide improved products and services to customers.
๐จ๐ฝ๐ฑ๐ฎ๐๐ฒ ๐ข๐ป ๐๐ฒ๐บ๐ฎ๐ป๐ฑ@ https://www.alliedmarketresearch.com/request-for-customization/A06194
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The report offers an extensive analysis of the current and emerging opportunities in the global airport moving walkway systems market.
Based on business type, the new installation segment dominated the market in 2021.
In terms of type, the belt-type segment generated the highest revenue in 2021.
The horizontal segment accounted for the highest revenue based on angle.
Asia-Pacific held the largest market share in 2021, followed by North America, Europe, and LAMEA.
LAMEA is expected to experience the highest growth rate during the forecast period.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the report
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