Selbyville, Delaware, Aug. 04, 2021 (GLOBE NEWSWIRE) --
According to latest report “Aerobridge Market by Wall Structure (Steel, Glass), Elevation System (Hydraulic, Electromechanical), Movement (Fixed, Movable), Tunnel Sections (Two, Three), Product Type (Apron Drive, Noseloader, T-Bridge, Commuter Bridge), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of aerobridge will cross $9 billion by 2027. The growing trend of utilizing air travel among passengers will augment the product demand during the forecast timeline.
The global aviation industry is expected to grow due to growing air travel, passengers preferring air travel, and rapid development of airport infrastructure, thereby having a positive impact on the market. Moreover, rapidly improving lifestyle standards coupled with rising disposable incomes and the growing middle-class population in various emerging economies will further boost air travel for business and other travel-related purposes. Rising competition in the aviation industry has been beneficial for the passenger as the air fares are on the downward trajectory, further driving air traffic. According to International Air Transport Association, the number of passengers travelling via aircraft is projected to reach over 8.2 billion by 2037. The growing number of passengers will compel airports around the world to modernize and upgrade infrastructure, fueling the market growth.
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The glass segment in the aerobridge market will witness around 1.1% growth rate through 2027. The glass-walled structures are increasingly being adopted as they reduce the possibility of claustrophobia and also offer an enjoyable view of the surroundings to the passengers. Furthermore, the maintenance of glass-walled structures is also easy, which is gaining popularity as a choice for aerobridges.
The aerobridge market for hydraulic segment is poised to observe substantial growth during the forecast timeline. The hydraulic elevation system employed in the product minimizes operating costs and facilitates smooth elevation operations.
The movable segment in the aerobridge market is predicted to reach USD 8 billion by 2027. Movable type jet bridges are generally preferred by various airports owing to their excellence and operational flexibility. The movable configuration in the jet bridges help to retract and safely move the jet bridge out from the aircraft safety zone when the aircraft is arriving or departing.
The aerobridge market for two-tunnel segment will showcase exponential growth in the coming years. Two tunnel aerobridges are ideally suitable for passenger transportation in huge gauge aircraft. The commuter bridge revolves around a fixed point at the terminal building and telescope a tunnel section that approaches the aircraft stairs. These aerobridges provide a weather-protected walkway from the terminal building to aircraft stairs, offering convenience to passengers.
North America aerobridge market accounted for more than 13% of revenue share in 2020. According to the U.S. Department of Transportation Federal Aviation Administration’s report, the Airport Improvement Program (AIP) will require approximately USD 35.1 billion from 2019 to 2023. This program contains 16,350 projects for 2,955 existing and seven new airports. In June 2019, the U.S. government announced airport infrastructure grants worth USD 495 million for the development of 327 airports across 46 states and the Pacific Islands. These projects include runway reconstruction & rehabilitation, firefighting facility construction, and the maintenance of aprons & terminals. Such projects will generate many opportunities for the growth of the market in the future.
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Some of the product manufacturers functioning in the market are Thyssenkrupp, JBT Corporation, Vataple Machinery (Kunshan) Co., Ltd., ADELTE – The Boarding Company, PT Bukaka Teknik Utama Tbh, ShinMaywa Industries, Ltd., Airport Equipment, Muhibbah Airline Support Industries Sdn Bhd (MASI), FMT Sweden AB, and CIMC-TianDa.
Table of Contents (ToC) of the report:
Chapter 3 Aerobridge Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2017 – 2027
3.2.1 Impact of COVID-19 on industry landscape and forecast
3.3 Industry ecosystem analysis
3.3.1 Life cycle analysis
3.3.2 Vendor matrix
3.4 Innovation & sustainability
3.4.1 Patent analysis
3.4.2 Technology landscape
3.4.3 Future trends
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.2 Industry pitfalls & challenges
3.6 Industry megatrends
3.7 Aerobridge installations across various regions between 2017 to 2027
3.8 Regulatory trends
3.9 Growth potential analysis
3.10 Regional price trends
3.11 Cost structure analysis
3.11.1 R & D cost
3.11.2 Manufacturing & equipment cost
3.11.3 Raw material cost
3.11.4 Distribution cost
3.11.5 Operating cost
3.11.6 Miscellaneous cost
3.12 Competitive landscape, 2020
3.13 Porter's analysis
3.14 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.