According to a new report published by Allied Market Research, titled, โPassenger Boarding Bridge Market,” The passenger boarding bridge market was valued at $310.5 million in 2021, and is projected to reach $1,033.9 million by 2031, growing at a CAGR of 12.7% from 2022 to 2031.
The concept of a passenger boarding bridge is typically attributed to a hanging, moveable tunnel that connects an airport to an aircraft. This bridge allows passengers to securely go from the airport terminal to the aircraft while also sheltering them from the elements. The primary goal of the passenger boarding bridge is to make it as easy as possible for passengers to get from the airport terminal to the aircraft. Modern approaches, such as movable units, are employed to move the passenger boarding bridge from one terminal end to the other more quickly. These units may be adjusted in height and can be utilized by various aircraft. For instance, in 2019, ADELTE relaunched Apronaut, the first software-based passenger boarding bridge (PBB) docking simulator in the world, to offer rigorous training in a nil-risk environment for PBB operators. This PBB docking simulator enables staff to practice, dock, activate, and dock on all types of aircraft repeatedly.
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In addition, the passenger boarding bridge market has witnessed significant growth in recent years, owing to the expansion of the current terminals and the construction of new airports. Moreover, improvements in safety, security, ease of access, the comfort of passengers, and reduced manpower requirement are some of the benefits of the passenger boarding bridge, which leads to the rise in demand for the market. Furthermore, the companies operating in the market have adopted partnerships, investments, and product launches to increase their market share and expand their geographical presence. For instance, the Government of India planned to have a new integrated passenger terminal building expansion of Tiruchirappalli & Pune Airport by March 2022 and a few others in other states. On May 08, 2021, AAI commenced commercial operations at Rupsi airportโNortheast Indiaโs 15th airport and Assamโs 7th airport. Hence, Rise in airport projects in developing economies is hence expected to create lucrative opportunities for the passenger boarding bridge market.
The factors such as rise in aviation passenger traffic, increase in demand for large aircraft, and launch of upgraded products to improve infrastructural growth supplement the growth of the passenger boarding bridge market. However, long time life cycle for replacement of passenger boarding bridges and dearth of skilled workforce are the factors expected to hamper the growth of the market. In addition, rise in greenfield and brownfield airport projects and modernization of airports creates market opportunities for the key players operating in the market.
๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ – https://www.alliedmarketresearch.com/purchase-enquiry/9445
COVID-19 Impact Analysis:
As a consequence of the COVID-19 outbreak, aerospace companies experienced production disruption and decline in demand in commercial aviation, owing shortage of staff, a halt in aircraft production, and disruption in other aircraft cargo services. The cash-constrained airlines have postponed their aircraft replacements, including the airport equipment, which in turn negatively affected the market during the pandemic due to high fuel rates during the pandemic. Moreover, the COVID-19 pandemic has impacted the end-use industries adversely, resulting in a sudden dip in 2020 passenger boarding bridge orders and installation. This is expected to negatively impact the passenger boarding bridges market in the short term, with a slow recovery expected in Q1 of 2021. However, investments have been done by major industry players and government bodies within North America and Europe to revive the semiconductor industry and the rivalry of the U.S. and China. These investments were expected to have technological dominance through indigenous capabilities are expected to support business opportunities in the coming years.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง ๐๐ญ – https://www.alliedmarketresearch.com/request-for-customization/9445
KEY FINDINGS OF THE STUDY
- By product type, the commuter bridges segment is projected to dominate the global passenger boarding bridge market in terms of growth rate.
- By structure, the glass-walled segment is projected to dominate the global passenger boarding bridge market in terms of growth rate.
- By elevation system, the electro-mechanical segment is projected to dominate the global passenger boarding bridge market in terms of growth rate.
- By tunnel type, the air-conditioned segment is projected to dominate the global passenger boarding bridge market in terms of growth rate.
- By foundation, the movable segment is projected to dominate the global passenger boarding bridge market in terms of growth rate.
The leading players operating in the passenger boarding bridge market are A-Bridge LLC, AccessAir Systems, Inc., ADELTE Group S.L., Airport Equipment, Avicorp Middle East, Bukaka Group, China International Marine Containers, Deerns, FMT Sweden AB, HรBNER GmbH & Co. KG, JBT Corporation, Mitsubishi Heavy Industries, Ltd., NAFFCO Aviation, ShinMaywa Industries, Ltd., Thyssenkrupp AG, UBS, and Vataple Group.