LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global airport walkway market to grow to USD 3.01 billion by 2021, at a CAGR of more than 13% over the forecast period, according to their latest report.
The research study by Technavio on the global airport walkway market for 2017-2021 provides a detailed industry analysis based on the surface type (moving belt walkway and pallet type walkway), inclination (horizontal and inclined), and geography (the Americas, APAC, and EMEA).
|Moving walkways, or horizontal escalators, are slow-moving conveyors that carry passengers across an inclined or horizontal plane over a distance. As of 2016, 93% of all the busiest airports in the world had installed moving walkways, and this is expected to increase over the coming years. APAC is expected to account for the maximum number of new installations through 2021.|
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Technavio analysts highlight the following three factors that are contributing to the growth of the global airport walkway market:
- Development of energy-efficient walkways
- Implementation of hub-and-spoke network
- Adoption of innovative design models
Development of energy-efficient walkways
“Airports provide significant opportunities to reduce the energy consumption by optimizing the energy use in moving walkways. The growing demand for these systems have led to the introduction of multiple energy-saving technologies,” says Avimanyu Basu, a lead analyst at Technavio for aerospace components research.
ThyssenKrupp developed a high-speed and high-capacity moving walkway known as ACCEL, which has been developed using the maglev technology. This model features a belt that begins at normal walking speeds, accelerates up to 7.5 mph around the middle, and gets back to walking speeds towards the end. Such new technological advancements are expected to drive airport operators to upgrade or install moving walkways.
Implementation of hub-and-spoke network
The growing passenger traffic had necessitated the adoption of the hub-and-spoke network in their operation. Generally, a hub is an airport where flights are routed between the arrival and destination point of passengers, and spokes are destinations that airlines take from the hub airport.
The growing aviation industry has enabled airlines to expand connectivity between places using the hub-and-spoke method, which has resulted in increasing frequency of flights and addition of new routes. This has concurrently given rise to the demand for luxury travel and sophisticated airport services, such as walkways.
Adoption of innovative design models
“The airport authorities and airlines have been looking for alternative technologies to successfully streamline the growing passenger traffic. This has given rise to sophisticated new technological products such as airport walkways to enhance passenger comfort,” says Avimanyu.
Airport walkways allow airport operators to effectively manage the terminal space by providing luxurious comfort to all sets of passengers. From a business value perspective, the airport ensures an advanced operational efficiency which incorporates the tenants in the airports' catchment area, which are mostly the airlines.
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