Global Commercial Aviation Market

Commercial Aviation Market Size, Share, Growth Analysis, By Type(Passenger Aircrafts, and Cargo Aircrafts), By Engine Type(Turbofan, Turboprop) - Industry Forecast 2024-2031


Report ID: SQMIG20S2017 | Region: Global | Published Date: March, 2024
Pages: 202 | Tables: 62 | Figures: 67

Commercial Aviation Market Insights

Global Commercial Aviation Market size was valued at USD 182.22 Billion in 2022 and is poised to grow from USD 190.29 Billion in 2023 to USD 269.17 Billion by 2031, growing at a CAGR of 4.43% in the forecast period (2024-2031)

The growth of the commercial aviation market is propelled by several factors. Firstly, the increasing global population and rising middle-class incomes, especially in emerging economies, have led to a surge in air travel demand. This is further supported by the growing propensity for travel, driven by globalization and the ease of online booking platforms. The commercial aircraft market is also being driven by changes in the airline industry. New aircraft technologies have made it possible for airlines to expand their service areas. Along with the changing preferences of consumers, the commercial aircraft market also saw dramatic growth in new engine programs.   

Innovation is at the heart of the commercial aviation industry's expansion. The integration of digital technologies, such as the Internet of Things (IoT), Artificial Intelligence (AI), and blockchain, is revolutionizing the way airlines operate and interact with customers. For instance, AI algorithms are used for predictive maintenance of aircraft, reducing downtime and operational costs, while IoT applications in baggage handling and tracking systems significantly enhance the customer service experience. 

Sustainability has become a central theme in the commercial aviation industry's development. With increasing environmental awareness and regulatory pressures, airlines and aircraft manufacturers are investing in sustainable aviation fuels (SAF), electric aircraft, and innovative technologies to reduce carbon emissions and noise pollution. These efforts not only address environmental concerns but also aim to ensure the long-term viability of air travel.

The challenges facing the commercial aviation industry include regulatory complexities, geopolitical tensions, and the need for continuous investment in safety and security measures. Additionally, the sector must navigate the economic uncertainties and potential health crises that can impact global travel patterns. 

In conclusion, the global commercial aviation market is on a robust growth trajectory, underpinned by technological advancements, a focus on sustainability, and the increasing global demand for air travel. As the industry continues to innovate and adapt to changing market dynamics, it stands poised to play an even more critical role in connecting the world, fostering economic growth, and promoting cultural exchange. The future of commercial aviation looks promising, with ongoing investments in technology and infrastructure expected to further enhance its contribution to the global economy.

Market snapshot - 2024-2031

Global Market Size

USD 182.22 Billion

Largest Segment

Turbofan

Fastest Growth

Turboshaft

Growth Rate

4.43% CAGR

Global Commercial Aviation Market ($ Bn)
Country Share for North America Region (%)
Global Commercial Aviation Market Size By Engine Type ($ Bn)
Global Commercial Aviation Market Size By Engine Type (%)

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Commercial Aviation Market Segmental Analysis

The global commercial aviation market is experiencing significant growth and transformation, reflecting advancements in technology, and changing consumer preferences. This segmental analysis delves into the various aspects of the market, including Aircraft Type, Engine Type, and Region, focusing on the dominant and fastest-growing sub-segments within each category. 

Analysis by Aircraft Type 

In the Aircraft Type segment, Passenger Aircrafts stand out as the dominant sub-segment. These aircraft are the backbone of global air travel, facilitating international connectivity and economic growth. Their importance is underscored by rising passenger numbers and the increasing demand for efficient and eco-friendly travel options. Cargo Aircrafts are identified as the fastest-growing sub-segment, driven by their expanding applications in the logistics industry, ensuring the efficient transportation of goods worldwide. 

Analysis by Engine Type 

Within the Engine Type segment, Turbofan engines hold the dominant position. Their widespread use in commercial aircraft, attributed to their fuel efficiency and reduced noise levels, makes them indispensable in modern aviation. Turboshaft engines, often used in helicopters and other rotary-wing aircraft, are emerging as the fastest-growing sub-segment. The growth is spurred by the increasing use of helicopters in emergency medical services, search and rescue operations, and short-haul transportation.

Global Commercial Aviation Market Size By Engine Type , 2022 (%)

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Commercial Aviation Market Regional Insights

During the forecast period, North America is poised to lead the global commercial aircraft market, driven by the expansion of both global and domestic route networks. For instance, in January 2021, Delta Airlines announced a new cargo route to Brussels, while United Airlines disclosed plans for a continuous service between Boston Logan International Airport and London Heathrow, further bolstering the region's dominance.

Additionally, Asia Pacific is expected to experience significant growth in the commercial aircraft market, propelled by rising air passenger traffic, fleet expansion, and increased budget allocations for airport infrastructure enhancement and new airport establishment, notably in countries like India.

Global Commercial Aviation Market Size By Region, 2024-2031
  • Largest
  • Fastest

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Commercial Aviation Market Dynamics

Drivers

Rising Demand for Air Travel

  • The commercial aviation market is witnessing a surge in demand for air travel, driven by various factors contributing to increased population and passenger numbers globally. One significant driver is the steady growth of the global economy, leading to higher disposable incomes and increased consumer spending. As a result, more individuals are opting for air travel for business, leisure, and other purposes. Furthermore, expanding tourism industries in various regions are attracting both domestic and international travelers, further fueling the demand for flights. Additionally, advancements in technology have made air travel more accessible and affordable, with the proliferation of low-cost carriers and the introduction of more efficient aircraft models. Moreover, urbanization and population growth in emerging markets are creating new hubs of air travel demand. Overall, these factors are contributing to the rising trend in air travel demand within the commercial aviation market, driving airlines to expand their fleets and routes to meet the growing needs of passengers.

Technological Advancements

  • The ongoing development of new technologies like fuel-efficient engines, lighter materials, and autonomous air traffic control systems is leading to significant improvements in efficiency and safety within the commercial aviation sector.

Restraints

Complexity in Integration and Operation

  • The technical challenge of integrating commercial aviation with other components and systems, along with the need for specialized knowledge to operate them efficiently, can hinder their broader adoption.

Geopolitical and Economic Instability

  • Global events like political unrest, economic downturns, and natural disasters can significantly impact air travel demand. Airlines need to be adaptable and resilient to navigate these challenges and ensure business continuity.

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Commercial Aviation Market Competitive Landscape

The global commercial aviation market is fiercely competitive, with key players such as Boeing, Airbus, and Embraer dominating the industry through their innovation, reliability, and extensive aircraft portfolios. These companies maintain their competitive edge by investing heavily in research and development to introduce state-of-the-art aircraft technologies, catering to a wide range of aviation needs from passenger travel to cargo transportation.

Strategic collaborations and partnerships play a vital role. Companies forge alliances with airlines, government entities, and technology providers to expand their market reach, explore new opportunities, and enhance their product offerings. These partnerships help develop innovative solutions for challenges such as air traffic management, safety enhancements, and sustainable aviation practices.

Moreover, the adoption of market-specific strategies like fleet optimization and aftermarket services is key. Implementing efficient fleet management practices and offering tailored maintenance solutions help companies optimize operational costs and ensure the seamless operation of their aircraft. By aligning their strategies with the unique requirements of different segments such as commercial airlines, cargo operators, and military organizations, companies can effectively position themselves as industry leaders, fostering long-term growth and success.

Top Player’s Company Profiles

  • 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

Recent Developments

  • In May 2023, Boeing introduced the next-generation eco-friendly aircraft, integrating advanced sustainable aviation technologies to reduce carbon emissions and enhance fuel efficiency, setting new standards for environmentally conscious air travel.
  • Airbus unveiled its groundbreaking autonomous cargo drone in February 2024, revolutionizing logistics operations with its high payload capacity and long-range capabilities, catering to the growing demand for efficient and sustainable freight transport solutions.
  • Embraer announced the launch of its innovative urban air mobility concept in January 2024, featuring electric vertical takeoff and landing (eVTOL) technology, aimed at revolutionizing urban transportation and addressing congestion challenges in metropolitan areas.

Commercial Aviation Key Market Trends

  • Shift Towards Sustainable Aviation: The commercial aviation market is witnessing a significant shift towards sustainable practices, with a growing emphasis on eco-friendly aircraft, sustainable aviation fuels, and carbon offset initiatives to reduce the industry's environmental impact and address climate change concerns.
  • Rise of Electric Aircraft: The market is experiencing a surge in electric aircraft development, driven by advancements in battery technology and a push towards zero-emission air travel. Electric propulsion systems are gaining traction, offering airlines a cleaner and more efficient alternative to traditional jet engines.
  • Digital Transformation: The industry is undergoing a digital transformation, with the adoption of cutting-edge technologies like artificial intelligence, big data analytics, and Internet of Things (IoT) to optimize operational efficiency, enhance passenger experience, and enable predictive maintenance, revolutionizing the way airlines operate and interact with customers.
  • Urban Air Mobility (UAM) Revolution: The emergence of urban air mobility solutions, including electric vertical takeoff and landing (eVTOL) aircraft and drone delivery services, is reshaping the future of transportation in urban areas. These innovative modes of air transport are poised to revolutionize urban mobility, offering efficient, sustainable, and congestion-free transportation options for passengers and cargo.

Commercial Aviation Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. 

As per our global commercial aviation market study, the global commercial aviation market is experiencing a robust upswing, projected to reach USD 1.5 trillion by 2031. This growth is fueled by a surge in air travel demand, particularly in emerging economies with rising middle classes. Advancements in aircraft technology are playing a key role, with more fuel-efficient and environmentally friendly planes enabling airlines to expand routes and reduce costs. However, the industry faces challenges such as aging infrastructure, geopolitical tensions, and the need for continuous investment in safety. 

Despite these hurdles, the future of commercial aviation looks bright. Technological innovation is transforming the industry, with the integration of AI, IoT, and blockchain enhancing operational efficiency, improving passenger experience, and bolstering safety measures. Additionally, a focus on sustainability is driving the development of eco-friendly aircraft, sustainable aviation fuels, and carbon offset initiatives. Regionally, Asia-Pacific stands out as the fastest-growing market, fueled by economic growth and rising air travel demand. Overall, the commercial aviation market is poised for continued growth, playing a critical role in connecting the world, fostering economic development, and promoting cultural exchange.

Report Metric Details
Market size value in 2022 USD 182.22 Billion
Market size value in 2031 USD 269.17 Billion
Growth Rate 4.43%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Passenger Aircrafts, and Cargo Aircrafts
  • Engine Type
    • Turbofan, Turboprop, and Turboshaft
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • 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
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Commercial Aviation Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Commercial Aviation Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Commercial Aviation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Commercial Aviation Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Commercial Aviation Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Commercial Aviation Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Commercial Aviation Market size was valued at USD 182.22 Billion in 2022 and is poised to grow from USD 190.29 Billion in 2023 to USD 269.17 Billion by 2031, growing at a CAGR of 4.43% in the forecast period (2024-2031)

The commercial aviation market is fiercely competitive, with key players such as Boeing, Airbus, and Embraer dominating the industry through their innovation, reliability, and extensive aircraft portfolios. These companies maintain their competitive edge by investing heavily in research and development to introduce state-of-the-art aircraft technologies, catering to a wide range of aviation needs from passenger travel to cargo transportation. 'Boeing Company (US)', 'Airbus SE (Netherlands)', 'Embraer S.A. (Brazil)', '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'

The commercial aviation market is witnessing a surge in demand for air travel, driven by various factors contributing to increased population and passenger numbers globally. One significant driver is the steady growth of the economy, leading to higher disposable incomes and increased consumer spending. As a result, more individuals are opting for air travel for business, leisure, and other purposes. Furthermore, expanding tourism industries in various regions are attracting both domestic and international travelers, further fueling the demand for flights. Additionally, advancements in technology have made air travel more accessible and affordable, with the proliferation of low-cost carriers and the introduction of more efficient aircraft models. Moreover, urbanization and population growth in emerging markets are creating new hubs of air travel demand. Overall, these factors are contributing to the rising trend in air travel demand within the commercial aviation market, driving airlines to expand their fleets and routes to meet the growing needs of passengers.

Shift Towards Sustainable Aviation: The commercial aviation market is witnessing a significant shift towards sustainable practices, with a growing emphasis on eco-friendly aircraft, sustainable aviation fuels, and carbon offset initiatives to reduce the industry's environmental impact and address climate change concerns.

During the forecast period, North America is poised to lead the commercial aircraft market, driven by the expansion of both and domestic route networks. For instance, in January 2021, Delta Airlines announced a new cargo route to Brussels, while United Airlines disclosed plans for a continuous service between Boston Logan International Airport and London Heathrow, further bolstering the region's dominance.

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