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Global Aerobridge Market Growth Prospects, Future Industry Landscape 2033
Aerobridge Global Market Report 2024
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According to The Business Research Company's, The aerobridge market size has grown marginally in recent years. It will grow from $8.24 billion in 2023 to $8.4 billion in 2024 at a compound annual growth rate (CAGR) of 2.0%. The growth in the historic period can be attributed to air traffic growth, airport modernization, safety and convenience, rising air travel expectations, improvement in aircraft sizes.
The aerobridge market size is expected to see steady growth in the next few years. It will grow to $9.14 billion in 2028 at a compound annual growth rate (CAGR) of 2.1%. The growth in the forecast period can be attributed to airports expansion and development, rise in air passenger traffic, green initiatives in aviation, demand for contactless solutions, focus on passenger experience. Major trends in the forecast period include smart airport development, flexible and adaptable designs, energy-efficient solutions, integration of iot and connectivity, enhanced accessibility features.
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Market Drivers and Trends:
The increasing air passenger traffic is expected to propel the growth of the aerobridge market going forward. Air passenger traffic refers to the number of passengers traveling by air from one destination to another, typically measured by the number of passengers carried on commercial airlines or other air transport services. The increased demand for air travel has led to the development and implementation of aerobridge that helps with passengers' smooth boarding or deboarding. For instance, in March 2023, according to the Bureau of Transportation Statistics (BTS), a US-based principal agency of the U.S. Federal Statistical System, the number of passengers transported by U.S. airlines increased by 194 million in 2022 compared to 2021, a 30% increase. Further, the U.S. airlines transported 853 million passengers (unadjusted) from January through December 2022, up from 658 million and 388 million passengers, respectively. Therefore, the increasing air passenger traffic is driving the growth of the aerobridge market.
Technological advancements are a key trend gaining popularity in the aerobridge market. Major companies operating in the aerobridge market are focused on developing new innovative product solutions to strengthen their position. For instance, in September 2022, CIMC Group Ltd., a China-based logistics and energy equipment manufacturer, launched the unmanned intelligent jet boarding bridges. It is uniquely designed with advanced cabin door recognition and positioning system that can transmit information instantly to the artificial intelligence-based autonomous control system. It is an independent machine that lessens the workload of employees, lowers operating expenses for airports, and encourages the development of automated and intelligent airports.
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Major Key Players of the Market:
Bukaka Teknik Utama Tbk PT, Thyssenkrupp AG, Mitsubishi Heavy Industries Ltd., CIMC Group Ltd., TK Elevator GmbH, Hyundai Rotem Company, John Bean Technologies Corporation, Shinmaywa Industries Ltd., CIMC-TianDa Holdings Company Limited, Hubner GmbH & Co Kg, Saudi Ground Services Co., ADELTE Group, Cavotec SA, Deerns Group BV, AERO BridgeWorks Inc., Mallaghan Engineering Ltd., Cimolai Technology S.p.A., Jiangsu Tianyi Aviation Industy Co. Ltd., Airport Equipment Ltd., Ameribridge Inc., FMT Airport Gate Support Systems AB, TIPS GSE, Equipos Industriales De Manutencion S.A. (EINSA), Aviramp GSE, AD McCallum & Son Pty Ltd., Muhibbah Airline Support Industries Sdn Bhd, Dimaim Systems SL, Smart Airport Systems (SAS), Avicorp Middle East FZCO, Vataple Machinery (Kunshan) Co. Ltd.
Aerobridge Market 2024 Key Insights:
• The aerobridge market size is expected to see steady growth in the next few years. It will grow to $9.14 billion in 2028 at a compound annual growth rate (CAGR) of 2.1%.
• Elevated Air Passenger Traffic Fuels Expansion In The Aerobridge Market
• Technological Advancements In The Aerobridge Market
• Asia-Pacific was the largest region in the aerobridge market in 2023
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