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The latest report by IMARC, titled “ AirportMovingWalkwaySystemMarket:GlobalIndustryTrends,Share,Size,Growth,Opportunitya ndForecast2023-2028
” finds that the global airport moving walkway system market size reached US$ 2.3 Billion by 2022.
Airport moving walkway system refers to a transport system that uses a conveyor to move individuals and luggage safely and slowly over a short distance along the ground level or inclined between two floors of the building. These machines have moving safety handrails alongside them to offer mobility and optimal traffic flow. In recent years, airport moving walkway systems have gained traction due to the increasing number of air travelers at airports.
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One of the primary factors driving the market is the improving airport infrastructure. Additionally, the increasing air traffic globally due to the growing business travel and upliftment of lockdown restrictions in various countries, is creating a positive market outlook. Other than this, extensive investments in the expansion and development of airports to increase efficiency in traffic rows, enhance operational opportunities, and minimize costs and delays are positively influencing the market growth. Besides this, individuals nowadays prefer air travel due to the advanced facilities offered by the airports. In line with this, key players are introducing various product variants, such as integrating light-emitting diode (LED) lighting and high-efficiency motors in moving walkway systems to expand their consumer base.
Moreover, the rising workforce globally, along with the expanding disposable income levels of the masses, is propelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 3.1 Billion by 2028, expanding at a CAGR of 4.8% during the forecast period (2023-2028).
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
MarketSummary:
BreakupbyBusinessType:
• New Installation
• Modernization
• Maintenance
BreakupbyType:
• Belt Type
• Pallet Type
BreakupbyAngle:
• Horizontal
• Inclined
BreakupbySpeed:
• Constant Moving Walkways (CMW)
• Accelerating Moving Walkways (AMW)
BreakupbyRegion:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Middle East and Africa
CompetitiveLandscapewithKeyPlayers:
• Analogue Holdings Limited (ATAL Engineering Limited)
• Fujitec Co. Ltd.
• Hitachi Ltd.
• Hyundai Elevator Co. Ltd.
• KONE Corporation
• Mitsubishi Electric Corporation
• Otis Worldwide Corporation
• Schindler Group
• Stannah Lifts Holdings Ltd
• ThyssenKrupp AG
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