Global Airport Passenger Boarding Bridges Market - Growth, Trends, and Forecast (2018 - 2023)
The airport passenger boarding bridge market is anticipated to register a CAGR of 7.9% over the forecast period 2018 - 2023. The airport expansions and construction of new airports in different countries across the globe is anticipated to drive the airport passenger boarding bridge market over the forecast period.
INCREASE IN PASSENGER TRAFFIC
According to the Airports Council International (ACI), the global passenger traffic grew by 6.2% in 2017. Furthermore, according to the International Air Transport Association (IATA), there has been a growth of 5.4% in the global passenger traffic in 2017. At the regional level, Europe, as well as Asia-Pacific, have witnessed an increase in the passenger traffic at 8.2% and 7.9% respectively. Additionally, the Russian Federation, Portugal, as well as the Netherlands, have witnessed an increase in the passenger growth rate of 21.3%, 16.8%, and 9% respectively.
In the present scenario, the passenger bridges have become a tool for increasing the passenger comfort, as well as are a security component for the passengers from the terminal to the aircraft. The increase in the passenger traffic has led to many of the airports expanding their terminals, to accommodate a large number of passengers. As a result of this expansion, the number of passenger boarding bridges have also increased in the airports to cater to the needs of the customers. Owing to the lack of space in airports, many states, such as Los Angeles, have constructed smaller airports within the same city to cater to the increasing passenger traffic at airports. Smaller airports, such as the Long Beach Airport near Los Angeles and Oakland International in San Francisco, have been set up to cater to the increasing passenger traffic.
HIGH COST OF THE PASSENGER BOARDING BRIDGES
Alternatively, higher costs of maintenance for passenger boarding bridges, as compared to aircraft boarding stairs, have led to a fall in the procurement and usage of the passenger boarding bridges by many aircraft. Many small airports prefer to use aircraft boarding stairs, as compared to the passenger boarding bridges. High maintenance costs restrict use of the passenger boarding bridges by many small airports. As a result, various airports are unable to use the passenger boarding bridges fully.
Key Developments in the Market:
November 2017: Mitsubishi Heavy Industries Transportation, Equipment, Engineering & Services Company Limited have announced that they have received five passenger boarding bridges orders from Miyazaki Airport Building Company. October, 2017: The Company Adelte has announced that they have signed a contract with Manchester Airports Group (MAG) in order to design manufacture and install 11 new Passenger Boarding Bridges at the Manchester Airport as a part of its EUR 1 billion transformation programme. September 2017: The Company Adelte has announced that they have been awarded a contract for supplying boarding bridges to 12 airports based in India. The company shall primarily be involved with designing, manufacturing and installing initial 24 apron drive passenger boarding bridges.
Major Players: ADELTE GROUP, AIRPORT EQUIPMENT LIMITED, FMT AIRCRAFT GATE SUPPORT SYSTEMS AG, HUBNER GMBH & CO. KG, JOHN BEAN TECHNOLOGIES CORP AMONGST OTHERS.
Reasons to Purchase this Report
1. Provides Latest Insights into the airport passenger boarding bridges market 2. Analyzing various perspectives of the market with the help of Porter’s five forces analysis 3. Detailed analysis on the region expected to witness fastest growth in the market 4. Identify the latest developments, market shares, and strategies employed by the major market players 5. 3 months analyst support along with the Market Estimate sheet (in excel)
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