The global passenger boarding bridges market size is projected to grow from USD 273 million in 2020 to USD 489 million by 2025, at a CAGR of 12.3% from 2020 to 2025. The market is driven by various factors, such as the high demand for large aircraft, increasing number of greenfield and brownfield airport projects, and increased spending on airside infrastructure by airport operators are driving factors assisting the growth of the passenger boarding bridges market.
ThyssenKrupp AG (Germany), John Bean Technologies Corp. (JBT) (US), CIMC Ltd. (China), among others, are some of the leading players operating in the passenger boarding bridges market. These players have adopted various organic and inorganic growth strategies to strengthen their position in the market. These include new product developments, contracts, agreements, acquisitions, and research & development (R&D) activities further to expand their presence in the unmanned ground vehicle market.
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ThyssenKrupp AG is one of the leading players in the passenger boarding bridges market. The company maintains its presence in all major region including North America, Euorpe, Asia Pacific, Middle East and Latin America. The company has been actively contracted by various airport and seaport for supplying passenger boarding bridge and PBB services. In 2019, Thyssenkrupp entered into a contract to install 42 modern passenger boarding bridges at the Adolfo Suárez Madrid-Barajas Airport in Spain. The contract also includes the maintenance of 122 passenger boarding bridges and the refurbishment of another 10. This will help both parties form a long-term business relationship. The company has adopted several other strategies, such as partnerships, agreements, and the establishment of new manufacturing capabilities to strengthen its market position as well ensure its future growth.
JBT Corporation was ranked first in the ground support equipment market in 2018. It is one of the largest manufacturers of passenger boarding bridges across the globe. The company has a strong global distribution and service network. It has been receiving numerous contracts from major international airports. In January 2019, JBT Corp announced that it signed an agreement to acquire LEKTRO, Inc., a privately-held manufacturer of electric aviation ground support equipment based in Warrenton, Oregon. LEKTRO provides JBT AeroTech with comprehensive and compelling offerings of commercial aviation ground support equipment by expanding its range of products into electric towbarless aircraft pushback tractors for narrow body and smaller aircraft.
ADELTE Group is one of the emerging company in the field of passenger boarding bridges. The company has a strong foothold in European region. The company has subsidiary offices in Spain and in the Americas and Asia as well as contracted manufacturing facilities in the Americas and Asia. The company has strong dominance over seaport market in the Europe and Noprth America region. This shows the strong position it holds in the passenger boarding bridge market.
Passenger Boarding Bridges Market by Elevation System(Hydraulic,Electro-mechanical), Foundation(Fixed,Moveable), Point of sale(OEM,Aftermarket), Product Type,Structure,Tunnel Type, Docking Type, Seaport-PBB and Region - Global Forecast to 2025
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