Global Commercial Aviation Market by Type and Engine Type - Global Forecast 2031

The global commercial aviation market is projected to witness notable growth owing to the increase in adoption of aviation analytics in airline industry, increasing global population and rising middle-class incomes, especially in emerging economies. The market value stood at USD 182.22 Billion in 2022 and is expected to grow from USD 190.29 Billion in 2023 to reach USD 269.17 Billion by the end of 2031.

Passenger Aircrafts Sub-segment to Hold Dominant Share in Aircraft Type Segment

Passenger aircraft stand out as the dominant sub-segment. Increasing air passenger population and growing middle class in developing countries are driving the growth of this market. The passenger aircrafts segment is an important revenue stream for airlines and manufacturers. Airlines are investing heavily in acquiring new aircraft to expand their fleet, increase passenger numbers and meet the growing demand for air travel. Aircraft manufacturers, on the other hand, profit from selling aircraft and related services, developing new products and serving the needs of airlines and passengers. The growth and expansion of passenger aircraft is closely linked to the overall growth of the global commercial aviation market. As demand for air travel increases, driven by factors such as rising spending, urbanization and tourism, airlines are investing in new aircraft to meet this demand.

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North America to Lead Market with Major Revenue from U.S.

North America dominated the global market. In terms of aircraft deliveries, North America accounted for approximately 29% of global commercial aviation from 2017 to 2022. Aircraft deliveries are expected to increase by 57% between 2023 and 2030. The United States is the largest country in the global commercial aviation market, accounting for the largest share of global passenger traffic and revenue. Major airlines in the US. such as American Airlines, Delta Airlines and United Airlines operate domestic and extensive international networks, giving the country a dominant market position. U.S. at some of the world’s leading commercial aircraft manufacturers, including Boeing and a variety of aerospace companies specializing in aircraft parts, aerospace engineering and engineering.

The global commercial aviation market is semi-consolidated, occupied by major manufacturers like Airbus SE, The Boeing Company, Lockheed Martin Corporation, Embraer, and Textron Inc., Boeing Company (US), Bombardier Inc. (Canada), Lockheed Martin Corporation (US), General Dynamics Corporation (US), United Technologies Corporation (US), Rolls-Royce Holdings plc (UK), Honeywell International Inc. (US), Safran SA (France), Thales Group (France), Raytheon Technologies catering to market needs.

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Rise of Low-cost Cargo (LCC) Aircraft in the Commercial Aviation Market

The global commercial aviation market is witnessing a transformative change in the competitive landscape with the increasing popularity of low-cost carriers (LCCs). These airlines, distinguished by their lean business model and cost-effective operations, offer competitive pricing and easy service options. LCCs such as Southwest Airlines in the US, Ryanair in Europe and AirAsia in Asia have expanded rapidly, capturing large market shares and driving demand for air travel. This trend has forced traditional airlines to adjust their strategies, creating costs good and have enhanced their product offerings to compete in this growth market environment and expanded their networks and the competitive environment in the global commercial aviation market.

To know more about the Global Commercial Aviation Market, refer to Global Commercial Aviation Market Report: Market Opportunity by Region, Segment & Vendor (skyquestt.com)

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