Airport Moving Walkway Market size to exceed $2.7bn by 2026
Published Date: February 24, 2020 Authors: Kiran Pulidindi, Soumalya Chakraborty
Airport Moving Walkways Market demand is estimated to surpass USD 2.7 billion by 2026, according to a new research report by Global Market Insights, Inc.
Airport moving walkways will gradually grow in airport sector in upcoming years owing to rising need for lessening travel time of passengers between terminal and/or gates. Apart from these, increasing airport improvement & construction projects will further drive product demand in this sector. However, high production & maintenance cost of autowalks will hamper industry growth rate in projected timeframe.
Growing airport infrastructure activities in MEA will drive product’s sale in the region
Growing prominence of aviation industry in the Middle East & Africa will be key growth driving parameter for airport moving walkway market development in upcoming years. Air passenger traffic has increased by around 12% in this region during 2015 – 2016. Moreover, air passenger traffic in Saudi Arabia has surged by 8% in 2017 and is likely to reach a value of 100 million passengers by 2018.
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Increasing government initiatives for privatization of airports coupled with growing need for upgradation of aging airport infrastructure will also pave way for moving walkways in airport facilities. Such trends will be responsible for significant growth rate of Middle East & Africa airport moving walkway market by 2026.
Browse key industry insights spread across 139 pages with 125 market data tables & 20 figures & charts from the report, “Airport Moving Walkways Market Size By Type (Belt Type, Pallet Type), By Inclination Angle (Horizontal, Inclined), By Speed (Constant Moving Walkways, Accelerating Moving Walkways), Industry Analysis Report, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026” in detail along with the table of contents:
Belt-type moving walkways will generate market revenue of more than USD 400 million by 2026. These products are comprised of a continuous belt made up of metal mesh rollers or rubber material which are linked to each other and forms a walking surface. The key feature of these products such as, low noisier operation, high stability, lower maintenance cost, etc. as compared to other type will drive usage of belt-type moving walkways in airports.
Rising need for vertical commute at airports will drive inclined autowalks acceptance
Inclined moving walkways will have a positive growth rate throughout study time period as it fulfils the need for vertical commute between two floors at airports. These products have an inclination angle between 6º to 10º and are alike to escalators.
Constant moving walkways (CMW) will have a considerable share of airport moving walkways market in upcoming years due to its slow speed throughout the length of autowalks. The passenger might avoid using this product in order to save his/her time at airports. However, the product may gain some momentum with an increasing investment for constructing new airports across the world.
Middle East and Africa is expected to exceed at growth rate of more than 6% throughout the study time period. This might be owing to growing government focus towards construction of new airports & improvement projects related to existing airports over recent years.
For instance, Abu Dhabi Fund for Development (ADFD) has announced to give USD 52 million to Maafaru International Airport. These fund will be utilized for the construction of around 2,200 meter long runways and service roads for accommodating large aircrafts. Such initiatives will further create need for the moving walkways over projected timeframe.
Some of the key players involved in airport moving walkway market share are Mitsubishi Electric, Otis Elevator Company, Kone Corporation, Thyssenkrupp AG, Schindler Group, Hyundai Elevator Company and Hitachi.
Major players have formed strategic relationship with other industry players to increase their competitiveness. For instance, Thyssenkrupp completed acquisition of O’Keefe Elevator in order to strengthen its position in the U.S. market.
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