Increase in aviation passenger traffic, surge in demand for large aircraft, and launch of upgraded products to improve infrastructural growth have boosted the growth of the global passenger boarding bridge market.
PORTLAND, Ore., Oct. 18, 2022 /PRNewswire/ — Allied Market Research recently published a report, titled, “Passenger Boarding Bridge Market by Product Type (Apron Drive, Commuter Bridges, Nose-loader Bridges, T-bridges, Over-the-wing Bridges), by Structure (Glass-walled, Steel-walled, Glass-steel-walled), by Elevation System (Hydraulic, Electro-mechanical), by Tunnel Type (Air-conditioned, Non-Air-conditioned), by Foundation (Fixed, Movable): Global Opportunity Analysis and Industry Forecast, 2021-2031″. As per the report, the global passenger boarding bridge industry was pegged at $310.5 million in 2021, and is expected to reach $1.03 billion by 2030, growing at a CAGR of 12.7% from 2022 to 2031.
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Drivers, restraints, and opportunities
Increase in aviation passenger traffic, surge in demand for large aircraft, and launch of upgraded products to improve infrastructural growth have boosted the growth of the global passenger boarding bridge market. However, lack of skilled workforce and long-time life cycle for replacement of passenger boarding bridges hinder the market growth. On the contrary, increase in greenfield and brownfield airport projects and surge in modernization of airports would open opportunities in the future.
Covid-19 scenario:
The Covid-19 pandemic adversely impacted the end-use industries due to sudden dip in passengers and slow recovery post-lockdown period.
The aerospace companies are among the worst-hit companies during the pandemic due to disruptions in the production and supply chain, and declining demand for commercial aviation. Moreover, shortage of staff and halt in aircraft production negatively impacted the market.
The over-the-wing bridges segment held the lion’s share
By product type, the over-the-wing bridges segment held the largest share in 2021, accounting for more than one-fourth of the global passenger boarding bridge market, as it allows passengers to go from the airport terminal to the aircraft securely. However, the commuter bridges segment is expected to register the highest CAGR of 15.3% during the forecast period, as it allows commuter aircraft to park power-in-power-out and it rotates around a fixed axis at the terminal building and can telescope a tunnel section to approach the aircraft stair as close as possible.
The glass-walled segment to manifest the highest CAGR through 2031
By structure, the glass-walled segment would showcase the highest CAGR of 14.7% from 2022 to 2031, as it offers safety to the passengers boarding the aircraft by ensuring that the walls are strong enough to hold the passenger load. However, the steel-walled segment held the largest share in 2021, contributing to nearly two-fifths of the global passenger boarding bridge market, due to presence of strong steel frames equipped with a thick layer of glass at the side walls of the boarding bridge. The installation of such bridges offers a better interior look of the bridge as well as offers advanced safety to the passengers.
The hydraulic segment held the lion’s share
By elevation system, the hydraulic segment held the largest share in 2021, accounting for nearly two-thirds of the global passenger boarding bridge market, due to its numerous advantages such as they do not fail while operating and they are easy to control and are accurate. However, the electro-mechanical segment is projected to showcase the highest CAGR of 13.5% during the forecast period, owing to its accurate and smooth force delivery. In addition, electro-mechanical passenger boarding bridges are more resistant to temperature variations, and there is no need to change oil and frequent repairs.
The air-conditioned segment to register the highest CAGR by 2031
By tunnel type, the air-conditioned segment is estimated to manifest the highest CAGR of 13.9% from 2022 to 2031. In addition, the segment held the largest share in 2021, contributing to nearly three-fourths of the global passenger boarding bridge market, due to rise in demand for automatic cooling & ventilation. Moreover, key player operating in the industry has been offering air-conditions installed within the bridges, which offers effective services. This supplements the growth of the market.
Asia-Pacific, followed by North America, held the largest share
By region, the market across Asia-Pacific held the largest share in 2021, accounting for more than one-third of the global passenger boarding bridge market, due to rise in tourism in the region and investment in new airports. However, the market across Europe is projected to manifest the highest CAGR of 14.4% during the forecast period, due to presence of major market players such as ThyssenKrupp AG, ADELTE Group, FMT Aircraft, and others that offer advanced passenger boarding bridges.
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Major market players
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
HÜBNER GmbH & Co. KG
JBT Corporation
Mitsubishi Heavy Industries, Ltd.
NAFFCO Aviation
ShinMaywa Industries, Ltd.
Thyssenkrupp AG
UBS
Vataple Group
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