According to the research report titled ‘Global Passenger Boarding Bridges Market by Elevation System (Hydraulic, Electro-mechanical), Foundation (Fixed, Moveable), Point of sale (OEM, Aftermarket), Product Type (Apron Drive, Commuter Bridges, Nose-loader bridges, T-bridges), Regional Forecasts 2021-2027’, available with Market Study Report, global passenger boarding bridges market size was remunerated USD 0.27 billion in 2020 and is expected to multiply at a CAGR of 12.3% over 2021-2027, subsequently reaching USD 0.61 billion by the end of the forecast period.
 

Surging demand for large aircrafts and increasing number of greenfield and brownfield airport projects are the key factors driving global passenger boarding bridges market growth, cites the study.
 

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As per ICAO's annual global stats, the overall number of passengers transported on scheduled services climbed by 6.4%, reaching 4.3 billion in 2018, while the number of departures increased by 3.5% reaching 37.8 million in the same year.
 

Further, Europe accounted for 26.3% of global air passenger traffic, demonstrating a rise of 7.2%; North America captured 22.4%, indicating an increase of 4.7%; and Asia Pacific accounted for 34.8%, showing a 9.5% increase. Thus, increasing passenger traffic is likely to create lucrative opportunities, contributing to the overall market development.
 

For those unversed, a passenger boarding bridge (PBB) is a movable, suspended tunnel that connects an airport to a plane and allows passengers to board swiftly and effortlessly. Passengers can safely go from the airport terminal to the aircraft while still being protected from the weather thanks to these aerobridges.
 

Access to aprons and operational areas is also limited, enhancing security. The purpose of the passenger boarding bridge is to make it as simple as possible for passengers to travel from the airport terminal to the plane and return.
 

Considering the factors restraining the industry expansion, hefty procurement and operational costs for low-cost airlines is likely to pose a major challenge for businesses in worldwide passenger boarding bridges marketplace over 2021-2027.
 

Considering geographical ambit, North America is projected to lead the industry forecast over the coming years, creditable to the developed airport industry in the United States. In fact, the Federal Aviation Administration (FAA) cited that passenger traffic is anticipated to surpass a billion in the following 20 years. Moreover, the region lays key emphasis on research & development of its infrastructure to maintain its position in this vertical.
 

Key players in global passenger boarding bridges market sphere are Aoyama Elevator Co. Ltd., UBS Airport Systems, Airport Equipment Ltd., Ameribridge Inc., Adelte Group, FMT Sweden AB, China International Marine Containers (Group) Ltd. (CIMC), ThyssenKrupp AG, Hübner GmbH & Co. KG, and Mitsubishi Heavy Industries Ltd.