Airport Stands Equipment Market Revenue Will Reach $1.6 Billion By 2025, Says Esticast Research and Consulting
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As per the report “Airport Stands Equipment Market By Equipment (Passenger Boarding Bridge (Steel walled, Glass walled), Preconditioned Air Unit (Fixed Preconditioned Air Unit, Movable Preconditioned Air Unit), Stands Entry Guidance System (Visual Docking Guidance System, Advanced Visual Docking Guidance System), Electrical Ground Power Unit (Fixed Electrical Ground Power Unit, Movable Electrical Ground Power Unit)), Region, Industry Trends, Estimation & Forecast, 2017 – 2025″.
The airport stands equipment market was valued at $1.1 billion in 2017, and is projected to reach $1.6 billion by 2025, growing at a CAGR of 5% from 2018 to 2025.
“A continuously increasing demand for the operational efficacy of airports and rising number of air passengers have emerged out as the major catalysts for advanced infrastructure within the aviation industry, hence boosting the market for aircraft stand equipment.”
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Boarding bridge segment led the market in 2017, and is anticipated to continue its domination over the next few years
Boarding bridge is one of the most crucial components of airport ground systems, which is responsible for the successful and safe passenger movements without any kind of exposure to the outer elements. In the current scenario, boarding bridges are being manufactured in a highly customized manner so as to serve various requirements depending upon the height, fueling position and type of aircraft. Some of the most prominent types of boarding bridges include, nose loader bridges, T-bridge, apron drive bridges, commuter bridges and many more. The demand of boarding bridges is directly proportional to the frequency of flights and intensity of passenger traffic. As per the statistics revealed by International Air Transport Association (IATA), the total number of air trips have witnessed a considerable increment of nearly 7% during the time period of 2016-2017. The rising passenger traffic has led various airports to expand their terminals, in order to accommodate a large number of passengers. This eventually has, increased the number of boarding bridges within the airports. However, higher costs involved in the maintenance of passenger boarding bridges, as compared to the conventional boarding stairs can act as a major restraint for the growth of the very segment.
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Global Airport Stand Equipment Market by Type, 2017
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Owing to the high presence of air passengers, North America dominated the global airport stands equipment market
A rapid growth of tourism within the North American countries has led to a hike in the number of air passengers. As per the statistics revealed by U.S. Bureau of Transportation, both U.S. airlines and foreign airlines serving the United States carried an all-time high of 965.0 million scheduled service passengers in 2017, which was 3.4% more than 2016 figure. The North America airport stand equipment market accounted for nearly 1/3rd of the global revenue in 2017. However, Asia Pacific market is expected to grow with the fastest CAGR in the near future. Countries such as India and China would contribute substantially in the growth of Asia-Pacific market owing to high population, growth, increasing tourism, rising disposable income of urban people and improving airport infrastructure. As per IATA, the Asia-Pacific region depicted an annual demand growth of 9.4%, compared to 2016, driven by robust regional economic expansion and an increase in route options for travelers.
Airport Stand Equipment Market by Geography, 2017
Some major market players of the market are ADELTE Group S.L., HDT Global, ShinMaywa Industries, Ltd., Aero Specialties, Inc., Airport Equipment, FMT Aircraft Gate Support Systems AB, Textron Inc., JBT Corporation, Cavotec SA, ThyssenKrupp AG.