Global Aerobridge Market is Estimated to Reach $1 Billion by 2024, Says Accurize Market Research Global aerobridge market report published by Accurize Market Research forecast that the global market is expected to reach $1 billion by 2024; growing at a CAGR of 8% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Increasing passenger traffic at domestic as well as international airports across the globe to drive the growth of the market. Increasing passenger traffic at domestic as well as international airports fuel the demand for the global aerobridge market. Moreover, increasing investments in installing operating aerobridges for domestic flights and the rise in the passenger in tier-II cities of developing counties also boost the growth of the market.
Market Segmentation
The global aerobridge market has been bifurcated on the basis of type, structure, product type and geography. By type is further segmented into fixed aerobridge and movable aerobridge. The structure can be further segmented into glass-walled and steel-walled. Furthermore, product type is segmented into the commuter bridge, dual boarding bridge, apron Drive Bridge, T-bridge and others.
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By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Mexico, and Canada are covered under North America wherein Europe covers U.K, Germany, Russia, and others. Asia-Pacific covers China, India, Australia, and others. The rest of the World (RoW) covers South America, the Middle East, and Africa.
“Steel-walled aerobridge accounted for the largest market share in the structure segment", says Accurize.
By structure,steel-walled aerobridge and glass-walled aerobridge accounted for 80% and 20% respectively, in the year 2017. Moreover, in product segments, apron Drive Bridge accounted for the highest market share in the aerobridge market in 2017.
“North America dominated the global market with the highest market share over the forecast period", says Accurize.
In 2017, North America held the largest share in the market with 29% followed by Europe with 28%. 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.
Top players in the market
The key market players include CIMC Group Ltd., Airport Equipment Ltd., Ameribridge, Inc., MHITES, Adelte Group, John Bean Technologies Corp., Thyssenkrupp AG, Vataple Group Ltd., Shinmaywa Industries Ltd., and Hubner GmbH & Co. Kg. among others.
