NEW YORK, June 22, 2016 /PRNewswire/ -- "Increasing passenger traffic, airport modernization programs, and decreased turnaround time are major factors driving the passenger boarding bridge market, globally"
The passenger boarding bridge market is expected to grow from an estimated USD 750.0 million in 2016 to USD 1,078.0 million by 2021, at a CAGR of 7.5% during the forecast period. The market for passengers boarding bridges is driven by several factors, such as rising number of greenfield airport projects, rise in passenger traffic, and increasing application of passengers boarding bridges for safety and protection from different weather conditions.
"Electro-mechanical drive system segment to witness the highest growth during the forecast period"
Key drive mechanisms considered for market study are hydraulic and electro-mechanical. The electro-mechanical subsegment is expected to dominate the passenger boarding bridge market during the forecast period. This growth can be attributed to the increasing research & development activities being undertaken worldwide for the development of advanced bridging technologies. Electro-Mechanically equipped bridges are also witnessing high demand from airport agencies, followed by hydraulic drive systems, as most electro-mechanical mechanized bridges are also hydraulic.
"Asia-Pacific to grow at the highest rate"
The passenger boarding bridge market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. This rapid growth can be attributed to the increasing budget for modernization of existing airports, and upcoming greenfield airports projects of major economies (China, India, South Korea, and Australia), primarily as part of their modernization programs as well as for smart airports.
"Break-up of profile of primary participants in the passenger boarding bridge market"
- By Company Type - Tier 1 – 35 %, Tier 2 – 45% and Tier 3 – 20%
- By Designation – C level – 35%, Director level – 25%, Others – 40%
- By Region – North America - 45%, Europe – 20%, APAC – 30%, RoW – 5%
Major companies profiled in the report include JBT Aero Tech (U.S.), Thyssenkrupp AG (Germany), CIMC Group Ltd (China), and Adelte Group S.L (Spain), among others.
Reasons to buy the report:
From an insights perspective, this research report has focused on various levels of analysis — industry analysis (industry trends and technological trends), market-share analysis of top players, supply-chain analysis, and company profiles. It also discusses basic views on competitive landscape, emerging and high-growth segments of the passenger boarding bridge market, high-growth regions and countries, and their respective regulatory policies, government initiatives, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: JBT Aero Tech (U.S.), Thyssenkrupp AG (Germany), CIMC Group Ltd (China), and Adelte Group S.L (Spain), among others
- Product Development/Innovation: JBT Aero Tech (U.S.), Thyssenkrupp AG (Germany), CIMC Group Ltd (China), and Adelte Group S.L (Spain), among others
- Market Development: JBT Aero Tech (U.S.), Thyssenkrupp AG (Germany), CIMC Group Ltd (China), and Adelte Group S.L (Spain), among others
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global passenger boarding bridge market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global passenger boarding bridge market
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