Report Overview
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The global airport passenger steps market size was USD 127.8 million in 2020. As per our research, the market is expected to reach USD 158.3 million by 2027, exhibiting a CAGR of 3.1% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the airport passenger steps market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
The airport passenger step is a kind of manual or tractor-drawn equipment without a commercial engine and chassis, so it saves fuel and maintenance during the work process. Airport passenger steps are considered advanced security technologies. It requires the use of trained personnel or professionals with security control devices designed to protect civil aviation from terrorist acts, harm and other potential threats.
Passenger services are increasingly becoming a customer-centric approach to growing air passenger traffic and airport destinations. The goal of current airport service management is to improve passenger boarding and reduce aircraft service times. The ever-increasing number of passengers and the rapidly growing global aircraft industry are the main factors triggering the airport passenger steps market growth. The expansion and construction of airports around the world increases the demand for aircraft and the expansion of existing terminals. Then the acquisition of passenger stairs for fleet management and passenger handling systems will increase. Fast-growing economies are investing significantly in the management and development of aircraft fleets and their passenger handling systems. Governments are focusing on increasing the number of new airports to ease airport congestion in major cities. This, in turn, increased the demand for passenger numbers at the airport.
COVID-19 Impact: COVID-19 Has Hampered The Market Due To Closures And Reduced Passenger Traffic
The market was hit hard by COVID-19 in 2020 and 2021. Many airlines and other aircraft operators found that the COVID-19 pandemic reduced passenger traffic, an important source of revenue. Passenger numbers have fallen, forcing airlines to look for additional revenue to stay afloat. This was because most of the global borders were closed and people became more interested than ever before when traveling internationally for leisure and business. In addition, the airline was in loss in March 2020 due to a sharp decline in passenger numbers and aircraft hangars, as well as maintenance and insurance costs and many other operating expenses. Due to strict regulations, airlines had to focus on cargo, border closures and the recent travel phobia pandemic.
Latest Trends
"Advanced Imaging Technology Segment Is Expected To Grow Rapidly During The Forecast Period "
The advanced imaging segment is expected to witness the highest growth during the forecast period due to increased investment by airport authorities in imaging screening of passengers to ensure efficient and contactless screening. Advanced Imaging Technology allows agencies to screen travelers for both metallic and non-metallic hazards without physical contact using imaging techniques such as X-rays and computed tomography. In addition, increasing air traffic and increasing security issues at airports are boosting the market growth. Significant growth in passenger traffic led to increased demand for new aircraft, expansion of existing terminals, and development of new airports and subsequent acquisition of passenger stairs to manage the growing fleet and their passenger handling systems.
Segmentation
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- By Type
According to type, the market can be segmented into Towable Airport Passenger Steps, Self-propelled Airport Passenger Steps.
Towable Airport Passenger Steps is anticipated to be the leading segment.
- By Application
Based on application, the market can be divided into Passenger Aircraft, Private Aircraft.
Passenger Aircraft will be the dominating segment.
Driving Factors
"Increased Demand For Low-Cost Airlines And Domestic Flights Is Boosting The Growth Of The Market "
Recently, the rapid growth of low-cost airlines due to global urbanization and increased economic activity and the increasing demand for travel and tourism has accelerated the expansion of the market for airport ground handling and cargo services. The growth of low-cost airlines also leads to the development of low-cost airports and an increase in demand for maintenance services. In addition, the growth of the middle class in developing economies is a key factor in the growth of air passenger traffic, especially in regional travel, which increases domestic demand and overall market growth.
"Need For Agile Transportation Infrastructure Fuel The Market Growth During The Forecast Period "
The need for agile transportation infrastructure is one of the major market trends that will further drive the airport passenger steps market growth. Growing air passenger traffic and airport destinations make passenger transport operations more customer-oriented. Agile airport infrastructure maximizes operational efficiency and effectiveness by reducing costs, minimizing complexity and maximizing flexibility. Airport infrastructure upgrading programs that are becoming smarter are expected to drive the growth of the airport passenger stairs market.
Restraining Factor
"High Training Costs And Lack Of Qualified Personnel May Restrict The Market Growth"
The passenger steps bridge must be brought closer to the aircraft door for docking. Here the user has to adapt PBB height using the lifting system and align the airport passenger steps doors with the aircraft doors extending the telescopic tunnel. If this process is not performed correctly, it can lead to accidents. For example, in October 2018, a passenger bridge collapsed in Islamabad International Airport; however, no major damage was reported. Due to technical and safety reasons associated with such airlifts, PBBs can only be docked by airline approved personnel or ground handling personnel authorized to operate them. However, finding a qualified workforce in this sector is a challenge, as operator training takes a lot of time and money, as it involves the use of techniques such as simulations, refresher courses and tests. Most airlines tend to focus on reducing operational costs such as parking fees and ground support fees, with additional costs associated with training bridge operators.
Regional Insights
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"Asia Pacific Market Accounted For The Largest Share Of Revenue Compared To Other Regional Markets "
The market in Asia Pacific region generated the highest revenue in 2022 for the airport passenger steps market share. Security concerns due to increasing number of terrorist attacks in this region are major factors driving market revenue in this region. Growing technological advancement and proliferation of screening technology at airports are major factors contributing to revenue growth in the regional market. For example, on February 22, 2023, Smiths Detection, a global leader in threat detection and security screening, announced that it had been awarded a contract to provide passenger and baggage screening technology to Noida International Airport to maintain the safety and efficiency of passengers and drivers. Noida International Airport is India's newest and most sustainable airport, using technology to serve passengers, airlines and other airport partners with fast, cost-effective and easy-to-use services.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- ALVEST (France)
- JBT (U.S.)
- Fast Global Solutions (U.S.)
- Weihai Guangtai Airport Equipment (China)
- Shanghai Waycan M&E technology (China)
- Clyde Machines (U.S.)
- Phoenix Metal Products (U.S.)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 127.8 Million in 2020 |
Market Size Value By |
US$ 158.3 Million by 2027 |
Growth Rate |
CAGR of 3.1% from 2020 to 2027 |
Forecast Period |
2022-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the airport passenger steps market expected to touch by 2027?
Based on our research the airport passenger steps market is expected to reach USD 158.3 million in 2027.
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What CAGR is the airport passenger steps market expected to exhibit by 2027?
The airport passenger steps market is expected to exhibit a CAGR of 3.1% by 2027.
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Which are the driving factors of the airport passenger steps market?
Need for agile transportation infrastructure fuel the market growth during the forecast period and increased demand for low-cost airlines and domestic flights are two main driving factors of the airport passenger steps market.
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Which are the top companies operating in the airport passenger steps market?
The top key players in the airport passenger steps market are ALVEST, JBT, Fast Global Solutions, Weihai Guangtai Airport Equipment, TIPS, Stinar Corporation, Shanghai Waycan M&E technology, Clyde Machines, AVIOGEI, TBD, ACCESSAIR Systems, Mallaghan, Phoenix Metal Products, Las-1.