Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Jet Bridge Market Overview
Jet bridge is an enclosed walkway which is used at airports. Jet bridges are either movable or fixed connectors which are usually connecting airport terminals to the aircraft. Further, jet bridges are used to lead passengers to or from aircraft without going outside or without exposing them to the outside environment. Moreover, jet bridges are generally vehicle mounted and their position can be controlled by operator sitting in a vehicle. Use of jet bridges at airports has resulted in better security and safety performance of the airports.
Market Size & Forecast
Global jet bridge market is expected to flourish at a remarkable compound annual growth rate (CAGR) of 8.7% during the forecast period i.e. 2017-2024. The global market of jet bridge stood at revenue of USD 760.9 Million in 2016 and is expected to flourish at a remarkable pace and reach at a revenue of around USD 1,300 Million by the end of forecast period. Rising concern towards safety of passengers at airports, development of new airports and advancement of existing airports are major factors which are likely to drive the growth of global jet bridge market during the forecast period.
In terms of region, global jet bridge market is segmented into five major regions which are North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America region is expected to be the biggest market for jet bridge during the forecast period. This growth of jet bridge market in North America region can be attributed to factors such as rapid modification of airports in terms to improve customer’s convenience and rising concerns towards passenger safety at airports in this region.
Moreover, ongoing project for new airports and increasing air traffic in Asia Pacific region are propelling the demand for jet bridges at airports of this region. These are some of the major factors which are likely to make Asia Pacific the fastest growing market for jet bridge during the forecast period. Additionally, Europe region is anticipated to witness a remarkable growth over the forecast period owing to factors such as enhancement of infrastructure of existing airports coupled with growing number of passenger at the airports in this region.CLICK TO DOWNLOAD FREE SAMPLE
Market Segmentation
Our-in depth analysis of the global jet bridge market includes the following segments:
By Product
By Structure
By Elevation System
By Movement Type
By Region
Global jet bridge market is further classified on the basis of region as follows:
Growth Drivers & Challenges
Global jet bridge market is primarily driven by factor such as rising number of passengers at airport coupled with increasing concern about their safety at airports. Security concern about passengers at airports has led airport authorities to install jet bridges at the airports in terms to improve safety measurements at airport.
Additionally, benefits of jet bridges at airports including reduced aircraft turnaround time are some of the major factors which have made airport authorities to increase investment in installation of jet bridges. Such rising investment in installation of jet bridges at airport is likely to bolster the growth of global jet bridge market in near future.
Further, low operation cost and higher flexibility of jet bridges are some other major reasons which have fueled the popularity of jet bridges at the airports. This rising popularity of jet bridges is likely to drive the growth of jet bridge market. Moreover, technological advancements with jet bridges coupled with their wide range of products are key factors which are driving the growth of global jet bridge market.
However, high initial cost of jet bridge is a major challenge which is likely to dampen the growth of global jet bridges market in near future.
Key Players
Scope & Context
Overview of the Parent Market
Analyst View
Segmentation
The global jet bridges market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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