Global Passenger Stairs Market Expected to Reach USD 386.0 Million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Passenger Stairs Market by Type, Application, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 298.6 million in 2019 and is expected to grow at a healthy growth rate of 3.3% by the year 2027. In terms of volume, the global passenger stairs market is estimated to grow at 1.5% during the forecast period. The global passenger stairs market is anticipated to grow owing to rising use of passenger stairs in the places such as airport, construction and military. Furthermore, factors such as increasing air traffic, growth in the number of aircraft deliveries worldwide, and rise in terminal expansions & modernization are expected to fuel the market growth during the forecast period.

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The global passenger stairs market is fragmented based on type, application, and region. Based on type, the passenger stairs market is bifurcated into self-propelled and towable passenger stairs. On the basis of application, the passenger stairs market is segregated into military, airport, construction, and others. Based on region, the global passenger stairs market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into, India, China, South Korea, Australia, Japan, and Rest of Asia Pacific. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into GCC, South Africa, and Rest of Middle East & Africa (MEA).

In year 2020, the growth of passenger stairs market is expected to decrease significantly. The passenger stairs are mostly used on the airport for the travel between ground and door. The partial and complete lockdowns across the globe during this Covid-19 pandemic has resulted in the decline of outdoor outings of a large population pool. Moreover, the outbreak of Covid-19 has completely stopped the airlines across various countries. Thus, the passenger stairs market is anticipated to witness slow growth from 2020 to 2021. Furthermore, as significant market revenue is generated through the airlines sector, the product adoption is expected to decline in the near future.

As per GMR industry analyst Rajat Verma, “The Global Passenger Stairs Market is anticipated to witness significant growth during forecast period 2021-2027 driven by rising number of technologically advanced passenger stairs. Moreover, expansion of existing airports and burgeoning number of new airlines & airports across the globe are some of the factors driving the market growth. However, factors such as increase in the number of automated (aerobridge) systems and requirement of regular repair and maintenance for passenger stairs are expected to hinder the market growth during the forecast period.

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Key Takeaways from the Study:

• U.S. based NMC-Wollard Inc. and JBT holds around 7.0% market share of global passenger stairs market in year 2019.
• Europe accounts for a major share of the market, followed by Asia Pacific. The market in North America is projected to expand at substantial CAGR during the forecast period.
• The self-propelled segment accounts for a dominant share of the market; however, the towable segment is estimated to expand at a lucrative CAGR during the forecast period. The self-propelled passenger stairs are preferred for aircraft services, as they provide swift movement, convenience, and safe boarding as opposed to towable passenger stairs that need additional manpower and support.
• The airport segment is anticipated to expand at a high CAGR due to the increase in the demand for passenger stairs from airlines.

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Report Scope:

Target Audience:

• Supply-side: Passenger stairs manufacturers, raw material suppliers, primary respondents, and distributors.
• Demand Side: Airports, military, and construction industries
• Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
• Associations and Industry Bodies: Airport Council International (ACI), International Civil Aviation Organization (ICAO), European Regional Airline Association (ERA), Regional Airline Association (RAA), European Organization for Civil Equipment (Eurocae)

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