The report, now available on ASDReports, "Passenger Boarding Bridge Market by Application (Airport, Seaport), Drive System (Hydraulic, Electro-mechanical), Structure (Glass walled, Steel walled), Model (2 Tunnel, 3 Tunnel), Type (Fixed, Movable), Product and Region - Global Forecast to 2021", The passenger boarding bridge market is estimated to reach USD 1,078.0 Million by 2021, at a CAGR of 7.5% between 2016 and 2021.
This growth can be attributed to increasing passenger traffic, airport modernization programs, and reducing turnaround time of aircraft. These factors are driving the demand for passenger boarding bridges in airport and seaport applications, globally.
“The airport segment dominates the passenger boarding bridge market, among applications”
The passenger boarding bridge market is dominated by the airport application segment, as of 2016, and is expected to continue its dominance till 2021. This dominance can be attributed to the rising passenger traffic, airport modernization programs, and greenfield runway projects.
“The apron drive bridge segment to grow at the highest rate during the forecast period”
The passenger boarding bridge market has been segmented and analyzed on the basis of product, namely, apron drive, commuter, nose-loader, and t-bridge.. The passenger boarding bridge market is dominated by the apron drive segment, and this segment is also projected to grow at the highest CAGR during the forecast period, primarily driven by the increasing use of apron drive by most of the airports, globally.
“Asia-Pacific and the Middle East to be opportunistic markets for passenger boarding bridges”
The Middle East and Asia-Pacific are expected to drive the global passenger boarding bridge market in the coming years, with the Asia-Pacific market projected to grow at the highest CAGR during the forecast period. This rapid growth of the Asia-Pacific region can be attributed to increasing research & development activities undertaken in the region for the development of technologically advanced passenger boarding bridges to provide safety to passengers and control passenger traffic at the airports.
Major players in the passenger boarding bridge market have been identified as JBT Aero Tech (U.S.), ThyssenKrupp AG (Germany), CIMC Group Ltd (China), and Adelte Group S.L (Spain), among others.
Source: ASDReports - Market Research
Date: Jun 10, 2016