New York, USA, Oct. 27, 2021 (GLOBE NEWSWIRE) -- A new report on the global airport stands equipment market has been added by Research Dive to its repository. According to the report, the global market is expected to hit $1,732.5 million by 2026, rising at a CAGR of 5.5% from 2019 to 2026. This report in an in-depth study offering meticulous insights into the present situation and future scope of the global industry. The report is drafted by expert market analysts and assures to be a reliable source of data and comprehensive market insights for new market players, investors, prevalent players, stakeholders, shareholders, etc.
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Factors Impacting the Market Growth
Growing air travels, improvements in airport infrastructure, and rising standards of airport are the main factors fueling the growth of the global market. Additionally, the increasing number of brownfield and greenfield airport projects across the globe is expected to bring in lucrative growth opportunities for the market in the forecast period. However, absence of skilled professionals for the maintenance and operations of airport stands equipment is projected to hamper the growth of the market.
The report segments the global airport stands equipment market into source, application, and region.
Preconditioned Air Unit Sub-Segment to Grow Significant Growth
The preconditioned air unit sub-segment of the product segment is expected to observe extensive growth by surpassing $549.2 million in the estimated timeframe. This growth is primarily owed to the fact that preconditioned air units play an important role in the reduction of carbon emissions. PCA units provide cooling and heating services to the aircrafts instead of aircrafts power units running on fuel is estimated to drive the market growth over forecast time. Boarding bridges type has generated highest airport stands equipment market size in 2018, and is projected to account for $689.5 million by 2026, at a 4.5% CAGR, due to the flexible operation of boarding bridges and the bridges are capable of boarding and loading of passengers and cargos.
Asia-Pacific Region to Hold a Leading Market Position
The report evaluates the global airport stands equipment market across numerous regions including Asia Pacific, North America, Europe, and LAMEA. Among these, the Asia-Pacific region market is projected to grow significantly and garner $384.6 million in the estimated timeframe. The growth of this region market is mainly owing to the rising number of air travelers and advancement and restructuring of existing airports. Additionally, the existence of developed countries like U.S., Mexico and Canada with well-developed infrastructure are expected to drive the airport stands equipment market, due to this, the market for North America is projected to account for $563.1 million, increasing at a CAGR of 4.2% over projected timeframe.
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Major Players of the Market
Some of the prime players functioning in the global airport stands equipment market are -
- Airport Equipment
- Textron Inc.
- Aero Specialties Inc.
- HDT Global
- Cavotec SA
- ShinMaywa Industries Ltd.
- FMT Aircraft Gate Support Systems AB
- ThyssenKrupp AG
- ADELTE Group S.L.
- JBT Corporation
Inquire and Get Quick Access to Top Companies Development Strategies Summary Report
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in May 2019, Auckland Airport (AKL), the largest and busiest airport in New Zealand, announced that it is planning to expand its airfield and develop taxiway as well as remote stands as part of the first stage of its multibillion-dollar infrastructure development program. This development is aimed on supporting the rising airport operations.
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