Airport Passenger Boarding Bridge - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Airport Passenger Boarding Bridge Market size is estimated at USD 2.09 billion in 2024, and is expected to reach USD 2.68 billion by 2029, growing at a CAGR of 5.11% during the forecast period (2024-2029).

Key Highlights

• The COVID-19 pandemic deleteriously impacted the market as the demand was reduced to minimal due to the imposition of global lockdown restrictions that also halted the ongoing or envisioned airport infrastructure construction or modernization initiatives. However, post the pandemic, the market has registered sustained growth on account of airport infrastructure development projects that are being initiated to sustain air traffic passenger growth.
• The construction of new airports and the expansion of the existing airports in order to accommodate the increasing air passenger traffic is one of the primary drivers for the adoption and installation of the different types of passenger boarding bridges to facilitate the movement of passengers between the aircraft and the airport terminal, driving the business prospects of the market players during the forecast period. Thus, the enhanced investments in airport infrastructure are anticipated to drive the growth of the airport passenger boarding bridges market.
• Passenger safety is a primary concern for aviation authorities. However, due to inadequate training or operational glitches of the sensors installed on the passenger boarding bridges, there have been some incidents that have compromised the safety of passengers and the aircraft on the ground. These accidents have primarily been confined to the gate and apron area. They have resulted in damaging both the aircraft and the airport infrastructure while disrupting passenger services and raising safety concerns. Accidents caused by passenger boarding bridges are urging airlines to invest in other safety measures.

Airport Passenger Boarding Bridges Market Trends

Construction of New Airports and Ongoing Airport Modernization Programs Driving Installation Base

• Though there has been a dip in passenger traffic during the year 2020 due to Covid-19, there has been significant growth in air passenger traffic during the past decade has forced several airports to augment their passenger handling capacities. This has led to several countries investing in new airports and expansion of the existing terminals.
• Passenger boarding bridges are designed to lead travelers/passengers to and fro the aircraft in a comfortable and safe manner, as passengers are not exposed to the weather and noise of the airport. Since the passenger boarding bridges are an extension of the airport terminal itself, they are designed to blend in perfectly with the environment and the architecture of the terminal. The expansion of airports in major cities with huge passenger traffic has created opportunities for manufacturers to introduce and offer their advanced automated PBBs.
• Countries like India, the United States, China, the Philippines, Australia, and the United Kingdom, have initiated several airport projects that are scheduled for completion during the forecast period. The first phase of the three phases of Long Thanh International Airport, worth an estimated amount of over USD 4 billion, started in December 2020 and is expected to be completed by 2025. This airport will replace Tan Son Nhat to become the largest airport in Vietnam once completed. The entire project is expected to be finished by 2040. Several such projects are underway globally, and several more are expected to be initiated during the forecast period, thereby driving the market prospects of the active market players.

Asia-Pacific Region to Grow with a High Growth Rate During the Forecast Period

• Asia-Pacific's rapid growth in the commercial aviation sector has positioned the region as the largest and fastest-growing in the world. With an increase in investments in airport infrastructures, construction of new airports, and expansion of the existing airports, the growth in Asia-Pacific is anticipated to remain resilient, and the region is expected to register the highest growth rate during the forecast period.
• In October 2020, 2 new passenger boarding bridges were installed at Chandigarh International Airport, India. Also, in February 2022, the Indian Civil Aviation Ministry announced that 16 new airports are going to be built in the 5 central Indian states. The fourth phase of Shanghai Pudong International Airport expansion has already been initiated in January 2022. Several domestic and international airline operators are planning to initiate their services between popular destination pairs in the Asia-Pacific region, fostering the necessity to modernize the existing airport infrastructure.
• Moreover, Chinese manufacturers of passenger boarding bridges have been investing significantly in R&D to develop products to fulfill the aesthetic requirement of airports while adhering to the safety requirements of the aviation agencies. Such developments are envisioned to create a favorable market environment and facilitate the growth of the passenger boarding bridges market in Asia-Pacific during the forecast period.

Airport Passenger Boarding Bridges Industry Overview

The passenger boarding bridges market is consolidated in nature, and leading market players are Thyssenkrupp AG, Mitsubishi Heavy Industries, Ltd., ShinMaywa Industries Ltd, ADELTE Group S.L., and FMT Sweden AB, among others. The countries in Asia-Pacific and the Middle East represent almost 50% of the global future airport infrastructure improvement and development programs and offer lucrative growth opportunities for the market players. Passenger boarding bridge manufacturers are currently looking at these regions to expand their clientele. Strategic acquisitions and partnerships, along with the establishment of manufacturing and production facilities locally, can be helpful for players to establish a foothold in the local and regional markets.

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