The global commercial aircraft market, valued at just over US$191 billion in 2018, is expected to grow at a CAGR of about 2.9% to be valued at around US$255 billion by 2028. The cumulative market for global expenditure on commercial aircraft is valued at US$2.3 trillion over the forecast period. Global expenditure on commercial aircraft is expected to show steady growth over the forecast period due to growing investments in infrastructure, initiatives to connect secondary cities with prime aviation hubs across a number of countries, and the increasing affluence of air travel, especially by rising middle class populations in emerging countries.
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Additionally, fueled by increasing air traffic, the emergence of low cost carriers (LCC) serves as a key factor for the growth of the sector globally. Concerns to enhance operational efficiency by reducing fuel consumption has prompted LCCs to opt for newer aircraft models, which also acts a major factor for increasing investments in the sector worldwide. Following LCCs, several legacy airlines are adopting similar business models with a target to increase operational efficiency and prepare for future sustenance in an ever-increasing competitive scenario.
The single aisle aircraft segment will account for a share of over 56% of the global commercial aircraft market over 2018-2028. The segment attracts investments from all regions primarily owing to the increasing operations of short-haul flight routes by LCCs. The single aisle aircraft segment in Asia-Pacific will account for a share of about 43% over the forecast period, whereas in the European and North American markets, it is anticipated to hold about 20.3% and 18.4% shares respectively. Similarly, in Middle East the segment will account for 8% of the market, while in Latin America and Africa, it is expected to hold 7.9% and 1.8%, respectively.
The commercial aviation market, along with its value chain entities, was one of the first industries to adopt new technologies, helping reduce a number of challenges encountered in regular operations. As such, the adoption of artificial intelligence (AI) for aircraft manufacturing is expected to significantly improve future operations. The importance of AI has been recognized by aircraft OEMs and MRO service providers, with the later having moved ahead to apply such technologies for faster and more efficient operations.
The report “The Global Commercial Aircraft Market 2018-2028”, offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for commercial aircraft, key market trends, and challenges faced by industry participants.
The report provides an in-depth analysis of the following –
– Overview: Snapshot of the commercial aircraft market over 2018-2028, including highlights of the demand drivers, trends and challenges. It also provides a snapshot of the spending with respect to regions as well as segments
– Market Dynamics: Insights into the technological developments in the commercial aircraft market and a detailed analysis of the changing preferences of governments around the world. It also analyzes changing industry structure trends and the challenges faced by the industry participants
– Segment Analysis: Insights into the commercial aircraft market from a segmental perspective and a detailed analysis of factors influencing the market for each sector
– Regional Review: Insights into modernization patterns and budgetary allocation for top countries within a region
– Regional Analysis: Insights into the commercial aircraft market from a regional perspective and a detailed analysis of factors influencing the market for each region
– Trend Analysis – Key Defense Market: Analysis of the key markets in each region, providing an analysis of the commercial aircraft segments expected to be in demand in each region
– Key Program Analysis: Details of the top programs in each segment expected to be executed over the forecast period
– Competitive Landscape Analysis: Analysis of the competitive landscape of the global commercial aircraft industry. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives and a brief financial analysis.
Companies mentioned in this report: Boeing, Airbus, Bombardier, Embraer, Commercial Aircraft Corporation of China Ltd. (COMAC)…