Technavio, a tech-focused market research firm, has published a new report on the global airport walkway market, which is expected to grow at a CAGR of around 13% during the forecast period, 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global airport walkway market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global airport walkway market are elaborated below:
Airport walkway market in the Americas: The US is the primary revenue contributing country in the airport walkway market in the Americas. The growth of the market in the region is attributable to the five-year wave of profitability that resulted from undertaking several strategies, including mergers and acquisitions, smart airport developments, and implementing capacity discipline. The estimated air traffic growth in Central America and the Caribbean is also anticipated to reflect positively on the airport walkway market in the Americas over the next four years.
According to Avimanyu Basu, a lead analyst at Technavio, specializing in research on aerospace components, “The South American region being one of the top-tier tourist attractions, is expected to generate a high passenger traffic. The rise in passenger traffic is anticipated to reflect on the demand for airport walkways in this region in the coming years. In addition, an investment of approximately USD 12 billion is expected in the development of new airports in Mexico City, which will also have a major effect on the airport moving walkway market.”
Airport moving walkway market in APAC: The growing demand for air travel is spurring an increase in the number of airports and is attracting higher investments toward moving walkways in the region. For instance, in 2013, there were more than 6,000 airports and airfields in the region, of which the developing countries such as China and India had 507 and 346 airports, respectively. Singapore, India, Hong Kong, China, and Japan are the major economies driving the market. Due to the growing transit passenger traffic, the airport operators are investing in enhancing airport terminal facilities by implementing moving walkways for passengers to reduce the transit travel time.
Airport moving walkway in EMEA: Italy is one of the significant European markets for airport and ground support equipment. The European region is witnessing high investments in new airports and new terminal buildings, which will have a significant positive effect on the regional airport moving walkway market.
The leading vendors operating in the global airport walkway market are:
- Glidepath Group
- Otis Elevator
- Stannah International
- Thyssenkrupp
Other prominent vendors in the market include Anlev (ATAL Group), Sumitomo Drive Technologies (Sumitomo Heavy Industries), and Toshiba.
A more detailed analysis is available in the Technavio report titled, ‘Global Airport Walkway Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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- Global Airport Fire Safety Equipment Market 2017-2021
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