Passenger Boarding Bridges Market
Passenger Boarding Bridges Market reached USD 375 million in 2021 is estimate to touch USD 896 million in 2029, and the market is anticipated to grow at a CAGR of 11.5%.
The factors driving the growth of Passenger Boarding Bridges Market includes rapid growth in the travel and tourism industry, rise in the number of greenfield and brownfield airports around the world, growing demand for large aircraft carriers and expansion of the existing terminals in the airports. According to the report published by Statista, the Global Travel & Tourism Market is calculated around USD 716.80 billion for 2022 and the market volume is predicted to reach USD 992.10 billion by the end of 2026, growing at a CAGR of 8.46%, over the forecast period (2022-2026), which will accelerate the Passenger Boarding Bridges Market share in the approaching years. Moreover, rise in international exports and import activities in Asia-Pacific, development of airport infrastructure through Public Private Partnership (PPP) models and increase in the launch of innovative products, are some of the additional factors supplementing the Passenger Boarding Bridges Market Growth. Moreover, the increasing investments by major corporations on research and development, rapid urbanization and rising disposable incomes, are further contributing to the market growth.
However, the growth of Passenger Boarding Bridges Market is hindered due to high capital required for building passenger boarding bridges.
The leading players operating in the Passenger Boarding Bridges Market are FMT Aircraft AB, Vataple Group LTD, Adelte Group, John Bean Technologies Corp., ThyssenKrupp AG, Mitsubishi Heavy Industries ltd, Hubner gmbh & co kg, PT Bukaka Teknik Utama TBK, CIMC Ltd and Shinmaywa Industries LTD, among others.
Based on Bridge Type, the Apron segment is predicted to expand at a significant CAGR during the forecast period
Apron type bridge enables secure and comfortable boarding experience to the passengers and possess 360 degrees directional bogies with great lateral movements, are some of the factors responsible for the segment’s growth.
Based on Elevation System, the Electro-Mechanical segment held the largest market share in 2020
As per the Passenger Boarding Bridges Market Analysis, electro-mechanical based elevation systems are durable and easily operable along with rise in the air passenger traffic across the globe, are propelling the growth of the segment.
Based on Region, the North American region is anticipated to hold the highest market share during the forecast period
Rapid growth in the travel and tourism industry, Government initiatives to support the airport infrastructure projects, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North America.
- In 2021, ADELTE, received contract worth € 12million from the Spanish airport operator AENA to manage and overhaul its core applications at its 46 airports.
- In 2018, Prosertek launched and provided two new mobile cruise ship passenger boarding bridges for Tenerife Port, which will facilitate the transit between the port and the ship and attract the cruise traffic to Tenerife port.
Segmentation by Bridge Type
- Over-The-Wing Bridge
Segmentation by Elevation System
Segmentation by Foundation
Segmentation by Application
Segmentation by Region
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
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