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Top Market Shifts Transforming the Airport Moving Walkways Market Landscape: Key Insights
Airport Moving Walkways Market
What Is the Expected CAGR for the Airport Moving Walkways Market Through 2025?
There has been a consistent increase in the airport moving walkways market size over the past few years. The market, valued at $2.42 billion in 2024, is predicted to rise to $2.54 billion in 2025, showing a compound annual growth rate (CAGR) of 4.8%. The previously observed growth is due to a surge in airport passenger traffic, congestion challenges, incorporation of advanced airport technologies, the need for hygienic, touch-free travel solutions, as well as urbanization which leads to the expansion of huge cities. Government strategies and capital for airport modernization have also contributed to this growth.
What's the Projected Size of the Global Airport Moving Walkways Market by 2029?
The market size for airport moving walkways is projected to witness considerable expansion in the coming years, forecasted to amplify to $3.15 billion by 2029, with a steady compound annual growth rate (CAGR) of 5.6%. Factors contributing to rising growth predictions during the forecast period include the improvement of passenger experience and terminal appearance, integration with modern airport technology, the need for touch-free and sanitary travel solutions, the surge in urbanization and development of mega-cities prompting airport enlargement, and governmental backing for airport modernisation strategies. Key trends to observe in the forecast period encompass energy-conserving and sustainable designs, technological progression in moving walkway mechanisms, the inclusion of IoT and smart connectivity, emphasis on design customization and aesthetic appeal, and the merger with airport informational systems.
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Top Growth Drivers in the Airport Moving Walkways Industry: What's Accelerating the Market?
The expansion of the airport moving walkways market is likely to be fuelled by the escalating number of air passengers. Passengers often have to transport heavy baggage over some distance at airports. In these situations, moving walkways serve as conduits between terminals, especially lengthy concourses, or they provide access to parking facilities. As an example, the global count of airline passengers is projected to hit 10.5 billion by 2040, as stated by the International Civil Aviation Organization (ICAO), a specialized United Nations agency. Consequently, the increase in airline passengers is contributing to the expansion of the airport moving walkways market.
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What Trends Will Shape the Airport Moving Walkways Market Through 2029 and Beyond?
Leading firms in the airport moving walkway market are prioritizing the creation of cutting-edge moving elevators to heighten the ease of use for travelers carrying luggage. This transportation mechanism facilitates vertical passenger mobility across different layers of an airport terminal, promoting comfort and efficiency. It provides a seamless movement path, reducing the energy required to combat height disparities, especially for those facing mobility difficulties or time restrictions. For instance, Schindler Group, a moving walkway manufacturer based in Switzerland, fitted six pairs of moving walkways at Tampa International Airport's long-term parking garage on Level 4 in June 2023. Approximately 200 parking spaces have been revived, and an additional nearly 500 spaces are anticipated after the removal of the antiquated monorail system. The monorail system, which was operational for over two decades, needed replacement due to falling passenger numbers and the high costs of repairs. Currently, the process of dismantling the monorail tracks and supporting infrastructure is in progress.
What Are the Main Segments in the Airport Moving Walkways Market?
The airport moving walkways market covered in this report is segmented -
1) By Type: Belt Type, Pallet Type
2) By Inclination Angle: Horizontal, Inclined
3) By Business Type: New Installation, Modernization, Maintenance
4) By Speed: Constant Moving Walkways (CMW), Accelerating Moving Walkways
Subsegments:
1) By Belt Type: Standard Belt Walkways, Heavy-Duty Belt Walkways, Modular Belt Walkways
2) By Pallet Type: Fixed Pallet Walkways, Adjustable Pallet Walkways, Heavy-Duty Pallet Walkways
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Which Top Companies are Driving Growth in the Airport Moving Walkways Market?
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.
Which Regions Will Dominate the Airport Moving Walkways Market Through 2029?
Asia-Pacific was the largest region in the airport moving walkways market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the airport moving walkways market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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