Airport Moving Walkway Systems Market Expected to Reach $3.4 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Airport Moving Walkway Systems Market," The airport moving walkway systems market size was valued at $2.2 billion in 2021, and is estimated to reach $3.4 billion by 2031, growing at a CAGR of 4.4% from 2022 to 2031.In 2021, Asia-Pacific dominated the global airport moving walkway systems market, in terms of revenue, accounting for about 38% share of the global airport moving walkway systems industry, followed by North America, Europe, and LAMEA.

In the last couple of decades, rise has been witnessed in the number of air travelers due to increase in tourism and preference of traveling by air over road and rail by the middle class population. Thus, rise in number of travelers has led to construction of new airports and expansion or renovation of the existing airports. For instance, in January 2023, as per the data published by the Air France KLM Group, in 2021 approximately 44.7 million passengers boarded an Air France-KLM plane. In addition, the French Government decided to invest around $270 million and increase the capacity of the Marseille airport by 40% by 2023. Furthermore, China has planned to construct 216 new airports by 2035 to meet the growing demands for air travel. All such instances are expected to drive the market growth.

Thus, rise in new construction, expansion, and renovation of airports makes way for new installation, modernization, and maintenance of airport moving walkway systems. For instance, in October 2022, Alstom signed five-year contract with Jeddah Airports Company to provide operation and maintenance for King Abdulaziz International Airport Terminal 1. In addition, In March 2022, Mitsubishi Electric Corporation has acquired Sweden-based Motum AB, which operates an elevator and automatic door business mainly in Sweden. By means of this acquisition, Mitsubishi Electric aims to strengthen its capabilities to service and modernize elevators and escalators in Sweden and other countries not limited to Europe. All the existing walkway systems need timely maintenance, thus currently driving the market growth. This is anticipated to drive the airport moving walkway systems market growth during the forecast period.

Furthermore, the outbreak of the COVID-19 led to halt in logistic and manufacturing activities across the globe, which, in turn, led to interruption of supply chain, thereby hindering growth of the airport moving walkway systems market. However, this situation has improved as governments have relaxed norms around the world for resuming business activities.

The airport moving walkway system market is segmented on the basis of business type, type, angle, and region. By business type, the market is divided into new installation, modernization, and maintenance. By type, the market is bifurcated into belt type and pallet type. By angle, the market is divided into horizontal and inclined.

The new installation segment secured the highest share of over 46% in the global airport moving walkway systems market in 2021, however, the maintenance segment is expected to grow at a CAGR of over 5.3% during the forecast period. In terms of type, the pallet type segment is expected to garner the highest share in the coming years owing to rise in construction activities of new airports and renovation of old airports.

Region wise, the airport moving walkway systems market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy and rest of Europe), Asia-Pacific (China, Japan, South Korea, India and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Competition Analysis

The major players profiled in the  in the airport moving walkway systems market are 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, and Stannah.

Major companies in the market have adopted acquisition and product launch as their key developmental strategies to offer better products and services to customers in the airport moving walkway systems market.

Key Findings of the Study

• The report provides an extensive analysis of the current and emerging global airport moving walkway systems market opportunities and dynamics.
• On the basis of business type, the new installation segment was the highest revenue contributor in 2021.
• By type, the belt type segment was the highest revenue contributor in 2021.
• Depending on angle, the horizontal segment was the highest revenue contributor in 2021.
• Region wise, Asia-Pacific contributed the highest in airport moving walkway systems market share in 2021, followed by North America, Europe, and LAMEA. Moreover, LAMEA is anticipated to dominate the global airport moving walkway systems market exhibiting highest CAGR during the forecast period.
• The report provides an extensive analysis of the global airport moving walkway systems market trends and emerging opportunities of the market. 
• The global airport moving walkway systems market forecast analysis from 2021 to 2031 is included in the report.