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Commercial Aircraft Market Size, Trends and Insights By Aircraft Type (Cargo Aircraft, Widebody Aircraft, Narrowbody Aircraft), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032
Overview
Global Commercial Aircraft Market
Commercial Aircraft Market: Overview
Commercial Aircraft Market Size, Trends and Insights By Aircraft Type (Cargo Aircraft, Widebody Aircraft, Narrowbody Aircraft), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032
According to Custom Market Insights (CMI), The Commercial Aircraft Market size was estimated at USD 151 Billion in 2022 and is expected to hit around USD 344 Billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 4% from 2022 to 2032.
Commercial aeroplanes transport massive amounts of freight or millions of passengers in hours from one end of the world to the other. After the Second World War, commercial aviation saw a boom that can be primarily traced to the crude conversion of ex-military aircraft to carry either freight or passengers.
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Commercial Aircraft Market: Growth Drivers
The worldwide commercial aircraft market is expanding as a result of several factors. The recent increase in air traffic has been one of the main forces behind the market’s expansion. Particularly emerging economies make significant contributions in these areas, promoting the global commercial aircraft market’s growth. The introduction of new air routes to increase global connectivity has been a significant driver in the growth of the worldwide market. Airline corporations are growing their fleet of planes as a result of it.
The need to acquire the newest commercial aircraft is fueled in part by this. The middle-class population has also experienced a significant economic expansion in recent years. This, together with the expanding trend and rising popularity of international travel, is anticipated to fuel the growth of the global market.
The airline industry’s ambitions for destination development and fleet modernization are gradually reviving the aircraft market, bolstering the order books of aircraft OEMs. Concerning aircraft OEMs, the order backlog is still substantial. Airbus stated that there were 7,036 jets on backorder as of the end of November 2021. Boeing had 4,210 aeroplanes on order. These figures show that, notwithstanding the decline in airline demand, commercial aircraft deliveries will proceed at a healthy rate over the anticipated period.
Report URL: https://www.custommarketinsights.com/report/commercial-aircraft-market/
Commercial Aircraft Market: Regional Analysis
Currently, Asia Pacific is dominating the worldwide market for commercial aeroplanes. The regional market’s dominance results from the rising volume of aircraft procurement. In addition, a recent increase in air passenger traffic is also assisting in the market’s growth. Developing countries like China and India are seeing rapid changes in their domestic air traffic cultures, helping the Asia Pacific region of the commercial aircraft market. Additionally, opening new air routes and introducing next-generation aircraft contribute to the market’s expansion.
Commercial Aircraft Market: Recent Developments
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2022: Since January, Tata Sons has owned a revitalized Air India (AI), and the airline is getting close to placing a massive aircraft order for about 500 aircraft. AI plans to purchase 100 twin-aisle aircraft and 400 single-aisle jetliners. It continued that the orders might comprise Airbus A350s and Boeing 787/777 twin-aisle aircraft, and the total value of the agreement would be $100 billion at the time of publication. The number of aircraft ordered could change if options are later exercised because the order numbers could comprise both firm orders and options.
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2022: United Airlines placed a sizable order for at least 200 Boeing aircraft, split between the 737 Max and the 787 Dreamline.
Key Players:
- The Boeing Co.
- Embraer SA
- Airbus SE
- Dassault Aviation SA
- Bombardier Inc.
- Textron Inc.
- General Dynamics Corporation
- Pilatus Aircraft Ltd.
- Piaggio Aero Industries SpA
- Avions de transport regional
- Others
Press Release: https://www.custommarketinsights.com/press-releases/commercial-aircraft-market-size/
The Commercial Aircraft Market is segmented as follows:
By Aircraft Type
- Regional & Business Jet
- Freighter
- Wide Body
- Narrow Body
By Application
- Passenger
- Cargo
On the basis of Geography
North America
- The US
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- New Zealand
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
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