Europe airport moving walkways market can emerge as a profitable revenue source due to the high foreign tourist traffic along with the increasing air traffic in the region. In the year 2016, Europe witnessed more than 80 million tourists.
There has been an exponential rise in air passenger traffic over the years owing to the ability of the consumers to travel within the nation or across borders for education, business, leisure, and medical purposes. Due to the increase in the number of passengers, the governments along with certain private enterprises have invested in the construction of new airports and airport revamp projects.
According to a recent study report, the airport moving walkways market size is was expected to cross US$2.7 billion by the end of 2026 globally, in terms of yearly revenues.
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Emerging nations like China, Japan, and India have significantly invested towards the development of airport infrastructure over the years. In February 2020, the Government of India announced that 100 additional airports are expected to be developed in the country by the end of 2024. Placed under Mission Udan, the government has allocated US$23.7 billion towards the construction of the same. The Indian government expects to witness an increase in air fleet from 600 to 1200 by the end of 2024.
Mentioned below are some the integral factors supporting the airport moving walkways market forecast in the coming years:
Pallet type airport moving walkways
Pallet type airport moving walkways have witnessed considerable adoption due to the product’s use as a key transportation solution at airports. Unlike belt-type walkways, pallet type does not require the whole system to be replaced in case of a pallet breaking. Additionally, the rising need to reduce passenger travel time across terminals at the airports has furthermore supplemented the demand for the product.
High passenger traffic in Europe
Although the coronavirus outbreak will hamper the tourism sector in the region significantly, foreign visits can be expected to rise as the global pandemic slowly subsides. The governments have heavily invested towards the construction of new airports and the expansion of existing ones to meet the demands of the growing air traffic and providing a major opportunity to the product manufacturers over the years.
Demand for horizontal travelators
Growing demand to transfer people from one place to another at airports along the same plane has driven the adoption of horizontal travelators across airports worldwide. Accelerating moving walkways have gained traction due to theii benefit of higher speed as compared to constant autowalks. The product helps in achieving shorter passenger transfer time at airport terminals and facilitates a huge amount of flexibility during transit.
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Manufacturers to carry out product innovations
Some of the prominent companies in airport moving walkways market include Hitachi, Schindler Group, Otis Elevator, and Kone Corporation among various others. The industry players are constantly working towards carrying out innovations in the product to meet the changing customer needs.
Finnish engineering co. – KONE InnoTrack is a novel autowalk solution that does not require a pit. It allows adjustable length, easy installation in any type of infrastructure as well as a wide customization option.