Passenger Boarding Bridge Market: to grow at a CAGR of ~6% during 2019-2029.

Future Market Insights (FMI), in its latest study, underlines the growth trail of the passenger boarding bridge market for the foreseeable period 2019-2029. According to the report, the passenger boarding bridge market witnessed sales of 1,549 units in 2018, equaling revenues worth ~US$ 600Mn. As innovation makes notable inroads in the aviation industry, manufacturers of passenger boarding bridges are under high-press to develop technologically-advanced and convenience-centric offerings.

The strong outlook of the global airport infrastructure construction, coupled with the escalating convenience expectations of passengers, is shaping the dynamics of the passenger boarding bridge market.

Get | Download Sample Copy with Graphs & List of Figures:
https://www.futuremarketinsights.com/reports/sample/rep-gb-4624

Getting everyone on board in a safe and sound way has garnered increased traction of airport authorities, in line with the substantial rise in the air traffic over the years. Safety and ease have taken the center stage in every PBB development process, with companies vying to offer a win-win offering to passengers and operators, alike. It will be unsurprising to witness a large number of advanced PBBs, as market players shift their focus on development of AI-based automatic jet bridges that eliminates the need for skilled individuals, to close the gap between 10 cm.

Market players have been strategically devising approaches and investing in developing a differentiated passenger experience, to win the price war and appeal to a wide pool of end-users. As automation of operational processes becomes increasingly commonplace in airports, it is highly likely for the market to witness substantial optimistic waves of change in the manufacturing of jet bridges.

As per the study, mobile telescopic bridges are witnessing increased traction from airlines, which led to sales of ~1,500 units in 2018, owing to their high flexibility and advanced features. An increasing number of companies have shifted their preference to mobile telescopic bridges over T-bridges, as the former can accommodate a wide range of aircraft while allowing easy installation as per various apron configurations.

The study opines that as airports are increasingly shifting their objective towards providing a luxury experience to passengers, the demand for glass-walled passenger boarding bridges has grown significantly. The aesthetic aspect of glass-walled passenger boarding bridges, which lies in the fact that these bridges make the experience of boarding the aircraft less confining has been pushing their adoption across an increased number of airports. As per the study, glass-walled passenger boarding bridges accounted for ~65% market volume share in 2018.

Developing Regions – Hotbed of Opportunities for Stakeholders

Because of the growing lucrativeness of developing regions, such as the Asia Pacific, leading players in the passenger boarding bridge market have placed their focus on securing contracts for PBB supply in these countries. Asia’s proliferating commercial aviation sector has positioned the region as the largest and fastest-growing market for airport infrastructure investments in the world. Several partakes have already shifted their goal coasts to the Asia Pacific and managed to obtain long-term supply contracts in the region. For instance, In September 2017, ADELTE landed in India with a contract for 12 airports, while seeking a long-term relationship to secure sales.

Request a Complete TOC of this Report with figures:
https://www.futuremarketinsights.com/toc/rep-gb-4624

A large number of market players in the Asia Pacific are constantly investing in technology to cope up with the growing passenger expectations related to convenience and ease. For instance, in January 2018, China International Marine Containers developed the world’s first automatic intelligent boarding bridge, which is likely to go functional in the Netherlands’ Schiphol Airport by 2019-end. Furthermore, the lucrativeness of the region will remain intact in line with the upcoming Olympics and international sports events to be held in the region, which is highly likely to push the tourists to flow in the region.

Passenger Boarding Bridge Market – Key Research Findings

The global passenger boarding bridge market size in 2018 was valued at ~US 600 Mn.
The passenger boarding bridge market is anticipated to grow at a CAGR of ~6% during the forecast period of 2019-2029.
The mobile telescopic bridges segment is expected to remain the most preferred product type segment in the passenger boarding bridge market.
The growth of this particular segment can be primarily attributed to the global growth of the passenger boarding bridge market.
Collectively, Europe and North America are likely to account for more than half of the revenue shares in the passenger boarding bridge industry by the end of 2029.
The East Asia market will continue to be a significant market for passenger boarding bridge manufacturers and distributors, owing to the increasing production and demand for boarding bridges in airplanes.
The hydraulic system segment is likely to continue as the prominent drive system, which creates significant growth opportunities for passenger boarding bridge market players.
The aerospace industry has witnessed significant growth over the recent past. The increasing disposable income of the higher and middle-class population increases the demand for better services in the aerospace industry, which in turn, is expected to propel the demand for passenger boarding bridges.
Noteworthy application potential of passenger boarding bridges has been identified to enhance the safety of passengers.
Passenger Boarding Bridge Market: Key Segment

By Product Type

Telescopic Bridges
T-Bridges
By Structure

Steel-walled
Glass-Walled
By Type

Fixed
Movable
By Drive System

Hydraulic System
Electro-mechanical system
By Region

North America
Latin America
Europe
South Asia &Pacific
East Asia
Middle East & Africa
For More Information or Query or Customization Before Buying, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-4624

A Plethora of Opportunities Lay in the Asia Pacific; China Set to Outshine

The passenger boarding bridge industry that witnessed the reign of developed regions, such as North America and Europe, over the years, is highly likely to undergo substantial change shortly. As per the International Air Transport Association (IATA), China is projected to replace the U.S. as the world’s largest aviation market in the forthcoming years, while Japan and Indonesia will also take prominent spots.

Growing investments in airport development across developing countries, such as China, India, Singapore, and Malaysia are creating a stream of opportunities for passenger boarding bridge manufacturers across the Asia-Pacific.

Contact Us

616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United StatesT: +1-347-918-3531F: +1-845-579-5705
T (UK): + 44(0)20-7692-8790

About Us:

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
www.futuremarketinsights.com

This release was published on openPR.