Global Airport Stands Equipment Market Expected to Reach $1,547 Million by 2023 – Allied Market Research
PORTLAND, Oregon and PUNE, India, March 20, 2018 /PRNewswire/ —
According to a recent report published by Allied Market Research, titled, Airport stands equipment Market by Type: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global airport stands equipment market was valued at $1,096 million in 2016, and is projected to reach at $1,547 million by 2023, growing at a CAGR of 5.20% from 2017 to 2023.
Continuous rise in global freight and passenger traffic, modernization of airports, and high demand of new aircrafts drive the growth of the global airport stands equipment market. However, long shelf life of airport stand equipment and dearth of skilled workforce hampers the market growth.
Based on type, the boarding bridges segment led the airport stands equipment market in 2016, and is projected to maintain its dominance in the future. However, the preconditioned air unit segment is expected to witness the highest growth, owing to its increased adoption due to different initiatives taken by countries to reduce the carbon emission of aircraft on the ground.
North America generated the highest revenue in 2016; however, Asia-Pacific segment is anticipated to witness the fastest growth during the forecast period.
Key Findings of the Airport Stands Equipment Market:
- The preconditioned air unit segment is expected to exhibit significant increase in the global airport stands equipment market during the forecast period.
- In 2016, the boarding bridge segment accounted for the highest revenue among the other end user.
- North America generated the highest revenue in 2016.
- Asia-Pacific is projected to exhibit substantial growth during the forecast period.
Some of the key players operating in the airport stands equipment market that are profiled in the report include Aero Specialties, Inc., Airport Equipment, FMT Aircraft Gate Support Systems AB, Textron Inc., JBT Corporation, Cavotec SA, ThyssenKrupp AG, ADELTE Group S.L., HDT Global, and ShinMaywa Industries, Ltd.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.