Demand for Jet Bridges to Rise on Back of Increasing Air Traffic across the World: Fact.MR
Published : 30 Jul 2021 Industry: Industrial Goods
According to a latest report by Fact.MR, a market research and competitive intelligence provider on jet bridges, the market is projected to reach US$ 635 Mn in 2021 and enlarge at a CAGR of around 9% over the coming 10 years.
East Asia holds a majority of the market share for jet bridges, being followed by South Asia. This is due to increased spending by governments on infrastructure and public safety.
Spending on research & development is relatively high for the development of new variants of jet bridges that have solar panels and gate systems attached to them, which will improve operational flexibility. Furthermore, their application at airports and seaports to avoid accidents and reduce labour and operation costs has made life easier. Implementation of rules regarding reducing carbon footprint is another major contributing factor for the rise of this market.
Key Takeaways from Study
- The jet bridge market is expected to grow 2.3X by value by 2031.
- Fixed passenger boarding bridges hold a large share, equal to more than half of the market by type.
- Among the product types, mobile telescopic bridges account for the highest share of 25%.
- The market in East Asia holds the largest share at US$ 201 Mn, and is expected to expand at a CAGR of 10%.
- Out of 100 jet bridges sold, 30 are being sold from East Asia, with a majority sold from China.
- The market in Japan is expected to gain 72 BPS by the end of 2031.
- Due to the COVID-19 crisis, demand for jet bridges was hit in 2020, which saw a decline of US$ 39 Mn in 2020.
“The jet bridge market is set to flourish due to increasing spending by governments on airport construction and renovation,” says a Fact.MR analyst.
Key players have been investing in research & development in order to create technologies with longer lifespans and greater operational flexibility. For instance, AviRamp launched its solar power range of jet bridges. Such improvements would propel the market forward in the medium- to long-term forecast period.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global jet bridge market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study divulges essential insights on the market on the basis of type (movable passenger boarding bridges and fixed passenger boarding bridges), product type (apron drives, mobile telescopic bridges, A380 upper deck services, dual boarding bridge systems, nose-loader bridges, T-Bridges, and over-the-wing bridge and commuter bridges), structure (glass tunnels and steel tunnels), technology (hydraulic and electromechanical elevation), and end use (airports and seaports), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and MEA).
About the Industrial Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Industrial team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Consultant - Industrial Goods and Automotive