High demand for large aircraft, increasing number of greenfield and brownfield airport projects, and increased spending on airside infrastructure by airport operators are the major factors driving the Passenger Boarding Bridges Market.
New York, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Passenger Boarding Bridges Market by Elevation System, Foundation, Point of sale, Product Type,Structure,Tunnel Type, Docking Type, Seaport-PBB and Region - Global Forecast to 2025" - https://www.reportlinker.com/p03893222/?utm_source=GNW
The global passenger boarding bridges market size is projected to grow from USD 273 million in 2020 to USD 489 million by 2025, at a CAGR of 12.3% from 2020 to 2025. The market is driven by various factors, such as the high demand for large aircraft, increasing number of greenfield and brownfield airport projects, and increased spending on airside infrastructure by airport operators are driving factors assisting the growth of the passenger boarding bridges market.
The passenger boarding bridges market includes major players ThyssenKrupp AG (Germany), John Bean Technologies Corp. (JBT) (US), CIMC Ltd. (China), FMT Aircraft AB (Sweden), and ADELTE Group (Spain), among others. These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and South America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect passenger boarding bridges production and services by 7–10% globally in 2020.
Increasing demand for larger aircrafts is driving the growth of movable PBBs “
The movable PBB segment is expected to be the largest market by value. The growth of the movable PBB segment of the passenger boarding bridges market can be attributed to the growing demand for larger aircrafts with high passenger carrying capacity.
The over-the-wing bridge segment is projected to witness a higher CAGR during the forecast period“
Based on product type, the over-the-wing segment is projected to be the highest CAGR rate for the passenger boarding bridges market during the forecast period.These bridges have recently picked up pace as demand for larger aircarfts have increased.
Over-the-wing bridge is useful for aircrafts with multiple doors.
The electro-mechanical segment is projected to witness a higher CAGR during the forecast period“
Based on elevation system, the electro-mechanical segment is projected to have the highest CAGR rate for the passenger boarding bridge market during the forecast period.The electro-mechnical passenger boarding bridge has witnessed major innovation as technology matures.
Innovations in the field of motor have increased the efficieny and reliability of electro-mechnical passenger boarding bridges.
The intelligent PBB segment is projected to witness a higher CAGR during the forecast period“
Based on docking type, the intelligent segment is projected to be the highest CAGR rate for the passenger boarding bridge market during the forecast period.By leveraging technology such as artificial intelligence and sensors, manufacturers of passenger boarding bridge have developed intelligent PBB.
Intelligent PBBs are capable for automatic docking that has been introduced by various manufactirere including ShinMaywa Industries.
The North America market is projected to contribute the largest share from 2020 to 2025
The passenger boarding bridges market in the North American region is expected to witness substantial growth during the forecast period due to increased demand for passenger boarding bridge from airports and seaports of these regions.
Several states in the US have passed regulations to reduce emissions from airports completely. As such, airports in these countries are opting for passenger boarding bridges instaed of mobile passenger stairs.. States such as California and Seattle have already implemented these regulations and airports in these states have overcome the barriers associated with inadequate infrastructure and input power.
The rapid growth of the passenger boarding bridge market in the Asia Pacific region can be attributed to rise in the number of air passenger and freight movements, which lead to the requirement for the upgradation and expansion of airports. For instance, in December 2018, the Civil Aviation Administration of China (CAAC) announced the construction of 216 new airports by 2035 to accommodate the growing number of air passengers.
Major players in the passenger boarding bridges market are ThyssenKrupp AG (Germany), John Bean Technologies Corp. (JBT) (US), CIMC Ltd. (China), FMT Aircraft AB (Sweden), and ADELTE Group (Spain), among others.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier 1–35%; Tier 2–45%; and Tier 3–20%
• By Designation: C Level–35%; Directors–25%; and Others–40%
• By Region: North America–21%; Europe–18%; Asia Pacific–42%; Rest of the World–19%
ThyssenKrupp AG (Germany), John Bean Technologies Corp. (JBT) (US), CIMC Ltd. (China), FMT Aircraft AB (Sweden), and ADELTE Group (Spain), are some of the leading players operating in the passenger boarding bridges market report.
The study covers the passenger boarding bridges market across various segments and subsegments.It aims at estimating the size and growth potential of this market across different segments based on mobility, size, mode of operation, application, system, and region.
This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Reasons to Buy this Report
This report is expected to help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall Passenger Boarding Bridges Market and its segments.This study is also expected to provide region wise information about the applications, wherein passenger boarding bridges is used.
This report aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
Read the full report: https://www.reportlinker.com/p03893222/?utm_source=GNW
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