Passenger Stairs Market Outlook
The global passenger stairs market size was valued at USD 298.6 Million in 2019 and is projected to reach USD 386.0 Million by 2027, expanding at a CAGR of 3.3% during the forecast period.
In terms of volume, the market is projected to expand at 1.5% during the forecast period. Passenger stairs are a set of steps that provide passengers a traverse between doors and the ground. These stairs are safe, stable and efficient for the long run. The urban population across the globe require passenger stairs as they are mostly involved in the transportation to commute from one city to another.
Some of the airlines use passenger stairs to reduce cost and turnaround time. The passenger stairs have smooth adjustment of the platform height and are available in the models with open and closed staircase. The passenger stair assembly is generally mounted on a self-propelled chassis with automatic transmission and diesel engine. The advent of newer technologies such as electric and hydraulic circuits in passenger stairs has increased its adoption across developed countries.
Passenger Stairs Market Dynamics
The increasing number of airports and airlines across the world as well as growing passenger journeys are some of the factors driving the growth of passenger stairs market. For instance, according to a recent data published by the World Air Transport Statistics, in 2018, China recorded around 4 billion origin-destination (O-D) passenger journeys. Thus, this is expected to increase the demand for passenger stairs in the long run.
Moreover, rise in globalization is increasing air travel, which, in turn is steadily propelling the demand for passenger stairs. Furthermore, the emergence of new and technologically advanced passenger stairs is expected to provide significant growth opportunity to the market.
Conversely, factors such as presence of alternate travelling options and requirement of high investment for airline companies are the potential impediments for the passenger stairs market growth. Additionally, regular repair and maintenance required for this equipment increases operational costs, which is ultimately inhibiting the market growth.
Passenger Stairs Market Segment Insights
Based on types, the global passenger stairs market has been categorized into self-propelled and towable passenger stairs. The towable passenger stairs segment is anticipated to witness substantial growth during the forecast period.
The types segment of the global passenger stairs market is segmented according to the functional needs of the equipment, whether they run on an electricity/gasoline/diesel engine or they can be hand towed or drove. In terms of volume, the self-propelled segment is projected to account for a dominant share of the market, as these stairs are used to promote smooth aircraft services.
In terms of application, the passenger stairs market has been segmented into military, airport, construction, and others. The airport segment is estimated to expand at a highest CAGR during the forecast period due to the large demand for these stairs from airline companies.
The demand for these stairs is projected to increase in the military segment due to the rise in the use of several aircraft and naval ships to increase military strength. The demand for airports in Western Europe, Asia Pacific, and North America is high owing to the increase in expansions and rise in the number of airports.
Regional Analysis
In terms of regions, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe held a market share of around 30.8% in 2019 and is anticipated to expand at lucrative growth rate during the forecast period.
The high market share is attributed to the factors such as strong presence of market players and rising transportation of the global population in Europe. Moreover, Asia Pacific is expected to grow at highest CAGR from 2020 to 2027 as aviation sector facilitates a substantial amount of tourism in this region.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Passenger Stairs Market
- Historical, Current and Projected Market Size in terms of Value and Volume (Units)
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Passenger Stairs Market Performance
Segments
Type
Application
- Military
- Airport
- Construction
- Others
Region
- North America
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Russia
- Rest of the Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- South Africa
- Rest of MEA
Key Players
- JBT
- Guangtai
- TLD (Alvest Group)
- Mallaghan
- Rosenbauer International AG.
- SINFONIA TECHNOLOGY CO., LTD.
- TIPS d.o.o
- NMC-Wollard Inc
- BlissFox (Panus Assembly Co. Ltd.)
- Fast Global Solutions
- Nandan GSE Pvt. Ltd
- Sovam
- Ersel Technology
- KCIGSE
- Clyde Machines, Inc
- ANGELO BOMBELLI COSTRUZIONI METALLICHE SRL
- Equipos Industriales de Manutener SA (EINSA)
- Excel Group of Companies
- FRANKE-AeroTec GmbH
- Kruckeberg Industries, Inc. and Stinar Corp
- LAS-1
- TBD Owen Holland Ltd
- DENGE - Ground Support Equipment Manufacturer (GSE)
- ZODIAC EQUIPMENT spol. s r.o.
- Jiangsu Tianyi Airport Special Equipment Co., Ltd
- Darmec Technologies S.r.l.
- MP Industries, INC
- Rucker
Competitive Landscape
Key players in the market include SINFONIA TECHNOLOGY CO., LTD., TIPS d.o.o., TLD (Alvest Group), Rosenbauer International AG., NMC-Wollard Inc. and JBT among others. These companies are considered as key manufacturers of passenger stairs based on their revenue, research & development (R&D) activities, regional presence, and supply chain management system.The players are adopting key strategies such as acquisition, new product launches, and geographical expansion in order to strengthen their market position. For instance,
- In October 2019, Delhi International Airport, India, deployed TLD’s GSE, TAXIBOTS. This airport is the first airport in the country to deploy semi-robotic aircraft tow vehicles. TAXIBOTS are anticipated to save probable 213 litters of fuel per flight, which equates to around USD 35 million on an annual basis.
- In January 2019, JBT announced the acquisition of LEKTRO, Inc., a privately held company of electric aviation ground support equipment, based in Warrenton, Oregon, the US. LEKTRO provides AeroTech with a comprehensive offering of commercial aviation ground support equipment.
- In 2017, JBT acquired Aircraft Maintenance Support Services (AMSS), a manufacturer of GSE for military and commercial applications in the UK, Europe, the Middle East, and Asia. AMSS’s primarily produced mobile stairs, Ambu-lift devices, military cargo loaders, cargo pallet movers, portable docks & manufacturing stands, and service trolleys.
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