Global Airport Stands Equipment Market is Projected to Reach USD 1196.93 Million by 2020

Date: 2015-10-20

“The global airport stands equipment market is estimated to be valued at USD 851.71 million in 2015 and is projected to reach USD 1196.93 million by 2020, at a CAGR of 7.04% from 2015 to 2020. This report presents the complete analysis and information about the global airport stands equipment market across a time span of five years (2015-2020). It recognizes the market application gaps, evolving technologies, recent developments in the market, and high potential geographic regions and countries. It also provides a segmentation of the market, tracking the market size, market share, revenue projections, and financial portfolio of the top market players in the global airport stands equipment market.

The major driver for the airport stands equipment market is the increasing passenger traffic year on year. The technological advancements at stands increase the efficiency of airports, enabling them to handle more number of aircrafts during peak hours. Upcoming airports in Asia-Pacific region have increased the demand for new equipment which are cost-effective and environment-friendly. The recent airport expansion projects in Asia-Pacific are also driving the market for airport stands equipment.

Asia-Pacific region comprises countries such as India, China, and Australia. It held the largest share of 29.27% of the global airport stands equipment market in 2015. The passenger boarding bridge segment is estimated to account for 45.89% of the total regional market in 2015. High industrial cluster in this region, along with the demand for modernization of airports and refurbishment, is expected to pull the demand for airport stands equipment. Developing countries are looking for sustainable and technologically-advanced equipment. With the use of airport stands equipment, higher efficiency levels and cost savings can be achieved, which is one of the reasons that make this market attractive.

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