Global Aerobridge Market is Expected to Reach $1,453 million, by 2024, Says Variant Market Research
Global Aerobridge Market Report, published by Variant Market Research, forecast that the global market is expected to reach $1,453 million by 2024 from $778 million in 2016, growing at a CAGR of 8.1% from 2016 to 2024. By geography, Asia Pacific and North America are expected to grow at a CAGR of 9.7% and 7.8%, respectively, during the forecast period.
Rising passenger inflow at domestics and international airport is one of the major reasons that drive the aerobridge market. Additionally, rising interests in introducing aerobridges for local flights and increasing passengers in tier-II cities are anticipated to drive the aerobridge market.
By type, movable aerobridge and fixed aerobridge accounted for 60.6% and 39.4% respectively, in 2016. In structure segment, steel-walled aerobridge and class-walled aerobridge accounted for 80.4% and 19.6% respectively, in the year 2016.Moreover, in product segments, apron drive bridge accounted the highest market share in aerobridge market in 2016
Asia-Pacific is the fastest growing region in the global aerobridge market, and is expected to continue this trend due to investment in tier-II cities in developing countries. For instance, The Goa International Airport, in India, to get three new aerobridges and is likely to be ready by April 2017, and this project is estimated to cost $1.8 million (INR 120 million). North America held the largest share in the market with 29% followed by Europe with 28.1%, in the year 2016.
Key market players include CIMC Group Ltd., Thyssenkrupp AG, Airport Equipment Ltd., Ameribridge, Inc., Adelte Group, John Bean Technologies Corp., Vataple Group Ltd., MHI-TES, Shinmaywa Industries Ltd. and Hubner GmbH & Co. Kg and others. In May 2015, Adelte Group secured a major contract for the supply of aerobridge and ground support equipment from Pakistan Civil Aviation Authority (PCAA) to improve boarding operations at Jinnah International Airport.