Newly released market study: Passenger Boarding Bridge Market - Global Forecast to 2021

Passenger Boarding Bridge Market by Application (Airport, Seaport), Drive System(Hydraulic, Electro-mechanical), Structure (Glass walled, Steel walled), Model (2 Tunnel, 3 Tunnel), Type (Fixed, Movable), Product and Region - Global Forecast to 2021

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.

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"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.
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