MarketsandMarkets has published the Passenger Boarding Bridge Market by Application report, indicating the market is estimated to reach USD1,078 Million by 2021, at a CAGR of 7.5 percent between 2016 and 2021, the company said.
This growth can be attributed to increasing passenger traffic, airport modernization programs, and reducing turnaround time of aircraft. These factors are driving the demand for passenger boarding bridges in airport and seaport applications, globally.
The passenger boarding bridge market is dominated by the airport application segment, as of 2016, and is expected to continue its dominance till 2021. This dominance can be attributed to the rising passenger traffic, airport modernization programs, and greenfield runway projects.
Major players in the passenger boarding bridge market have been identified as JBT Aero Tech (US), ThyssenKrupp AG (Germany), CIMC Group Ltd (China) and Adelte Group SL (Spain).
MarketsandMarkets publishes annual market research reports that serve 1700global fortune enterprises.