Commercial Aircraft Market By Size (Narrow Body, Wide Body, Regional & Business Jet, Freighter), By Application (Passenger, Cargo): Global Opportunity Analysis and Industry Forecast, 2020-2030
Commercial aviation includes all commercial air transport, aerial work operations, and certain general aviation flights. Aircraft used for commercial air transport are known as commercial aircraft. Commercial air transport is described as a plane operation that transports people, cargo, or mail for rental or for cost. In addition, commercial airliners transport people and freight between designated airports on regular basis. According to the European Union Aviation Safety Agency (EASA), a commercial operation is any aircraft operation that is provided to the public in exchange for compensation or other valued consideration, or which is performed under a contract between an operator and a customer, where the latter has no control over the operator.
According to the Federal Aviation Administration's (FAA) aerospace forecast, the number of aircraft in the U.S. commercial fleet is expected to increase from 5,882 in 2020 to 8,756 in 2041, an average annual growth rate of 2% each year, after dropping by 22.9% in 2020 (1,746 aircraft) as compared to 2019. Increase in demand for air travel and growth in air cargo shipment are expected to increase the demand for both the passenger and cargo fleets during the forecast period.
Development in the aircraft, increase in demand for fuel-efficient aircraft, unremitting advancements in aviation technology, including the use of lightweight carbon composites for manufacturing aircraft, and growth in the number of airline passengers fuel the demand for commercial aircrafts. However, lack of security & increased terrorism and congestion & delay in air traffic are factors that hamper the growth of the commercial aircraft market. Furthermore, various environmental regulations affect the commercial aircraft market, owing release of carbon dioxide (CO2) and other gases in the atmosphere. On the contrary, government initiatives to promote the commercial aircraft market and expansion of airports in the developing countries, including Africa, China, India, and Singapore are projected to create new growth opportunities for prominent players.
The commercial aircraft market is segmented on the basis of size, application, and region. Depending on size, it is categorized into narrow body, wide body, regional & business jet, and freighter. As per the application, the commercial aircraft market is bifurcated into passenger and cargo. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Competitive analysis and profiles of the major commercial aircraft market players include Airbus SE, Commercial Aircraft Corporation China Ltd., Dassault Aviation, Embraer, General Dynamics Corporation, General Electric, Lockheed Martin Corporation, Raytheon Technologies Corporation, Textron Inc., and the Boeing Company.
The drivers, restraints, and opportunities present in the market are explained in the report, in addition to the analysis of their impact. The report includes the study of the commercial aircraft market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
KEY BENEFITS FOR STAKEHOLDERS
This study presents analytical depiction of the commercial aircraft market analysis along with the current trends and future estimations to depict imminent investment pockets.
The overall commercial aircraft market opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities of the commercial aircraft market with a detailed impact analysis.
The current commercial aircraft market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of buyers and suppliers in the industry.
Key Market Segments
Regional Business Jet
Rest of Europe
Rest of Asia-Pacific
Key Market Players
Lockheed Martin Corporation
Raytheon Technologies Corporation
The Boeing Company
Commercial Aircraft Corporation of China, Ltd
General Dynamics Corporation
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