Global Aviation Market Report and Forecast 2024-2032

Global Aviation Market Report and Forecast 2024-2032


Market Outlook

According to the report by Expert Market Research (EMR), the global aviation market size reached a value of USD 340.10 billion in 2023. Aided by the resurgence in global travel demand, advancements in aerospace technology, and expanding air freight logistics, the market is projected to further grow at a CAGR of 3.70% between 2024 and 2032 to reach a value of USD 472 billion by 2032.

The aviation sector encompasses a broad spectrum of activities, including commercial air travel, cargo transport, aerospace manufacturing, and aviation services. This sector is pivotal in bridging geographical divides, fostering global trade, and facilitating cultural exchange. As the world becomes increasingly interconnected, the role of aviation in global economic development becomes ever more critical.

A significant driver of the aviation market growth is the escalating demand for commercial air travel. This surge is attributed to a growing global middle class, increased urbanisation, and the expansion of tourism and business travel. Emerging economies, in particular, have witnessed a rapid rise in air travel demand, thanks to rising disposable incomes and the proliferation of low-cost carriers (LCCs), which have made air travel more accessible to a broader population.

Furthermore, the aviation market is on the cusp of a technological revolution, with significant investments flowing into the development of more fuel-efficient, environmentally friendly aircraft. Innovations such as electric propulsion, advanced materials, and autonomous flight technologies promise to redefine the future of air travel, making it more sustainable and efficient. These advancements are not only vital for reducing the carbon footprint of air travel but also for addressing the increasing regulatory and societal pressures to combat climate change.

The air freight sector also contributes significantly to the aviation market expansion. In an era characterized by the rapid global exchange of goods, air freight offers unmatched speed and reliability, making it a crucial component of logistics and supply chain management for industries ranging from e-commerce to pharmaceuticals. The expansion of global trade networks and the rise in e-commerce have further fuelled the demand for air cargo services, driving advancements in logistics and aircraft design to accommodate the growing needs of the freight market.

As per the aviation market analysis, the global pandemic has underscored the importance of the aviation sector in ensuring the continuity of global supply chains and the rapid distribution of critical goods, including medical supplies. As the world recovers and adapts to new norms, the sector is set to play a pivotal role in shaping a more connected and resilient global economy.

The Asia-Pacific region currently holds a substantial aviation market share in the world. Driven by rapid economic growth, rising disposable incomes, and a burgeoning middle class, countries like China and India are at the forefront of this expansion. The region is expected to witness the highest growth in air passenger traffic, demanding significant investments in airport infrastructure and fleet expansion. Low-cost carriers have particularly thrived in this region, making air travel more accessible to the masses.

As per the aviation market outlook, the development of electric propulsion systems is accelerating, with several prototypes and short-haul electric aircraft already in testing phases. These technologies promise to revolutionise the market by offering a cleaner, quieter, and more cost-effective alternative to traditional propulsion systems. Advances in AI and machine learning are paving the way for autonomous flight, which could improve safety and efficiency in aviation operations. While fully autonomous commercial flights may still be a way off, pilot-assist and remote-control technologies are making significant strides.

Market Segmentation

The market can be divided based on type and region.

Market Breakup by Type
  • Commercial Aviation
  • Passenger Aircraft
  • Freighter Aircraft
  • Military Aviation
  • Combat Aircraft
  • Non-Combat Aircraft
  • General Aviation
  • Helicopter
  • Piston Fixed-Wing Aircraft
  • Turboprop Aircraft
  • Business Jet
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global aviation market. Some of the major players explored in the report by Expert Market Research are as follows:
  • The Boeing Company
  • Airbus SE
  • Lockheed Martin Corporation
  • Bombardier Inc.
  • Leonardo S.p.A
  • Embraer S.A.
  • Textron Inc.
  • Dassault Aviation S.A.
  • General Dynamics Corporation
  • Piper Aircraft, Inc.
  • Diamond Aircraft Industries GmbH
  • Cirrus Design Corporation
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Aviation Market Analysis
8.1 Key Industry Highlights
8.2 Global Aviation Historical Market (2018-2023)
8.3 Global Aviation Market Forecast (2024-2032)
8.4 Global Aviation Market by Type
8.4.1 Commercial Aviation
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Type
8.4.1.3.1 Passenger Aircraft
8.4.1.3.2 Freighter Aircraft
8.4.2 Military Aviation
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Breakup by Type
8.4.2.3.1 Combat Aircraft
8.4.2.3.2 Non-Combat Aircraft
8.4.3 General Aviation
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.3.3 Breakup by Type
8.4.3.3.1 Helicopter
8.4.3.3.2 Piston Fixed-Wing Aircraft
8.4.3.3.3 Turboprop Aircraft
8.4.3.3.4 Business Jet
8.5 Global Aviation Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
9 North America Aviation Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Aviation Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Aviation Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Aviation Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Aviation Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code – 8802)
15.1 Major Exporting Countries
15.1.1 By Value
15.1.2 By Volume
15.2 Major Importing Countries
15.2.1 By Value
15.2.2 By Volume
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 The Boeing Company
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Airbus SE
16.2.2.1 Company Overview
16.2.2.2 Type Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Lockheed Martin Corporation
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Bombardier Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Leonardo S.p.A
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Embraer S.A.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Textron Inc.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Dassault Aviation S.A.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 General Dynamics Corporation
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Piper Aircraft, Inc.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Diamond Aircraft Industries GmbH
16.2.11.1 Company Overview
16.2.11.2 Product Portfolio
16.2.11.3 Demographic Reach and Achievements
16.2.11.4 Certifications
16.2.12 Cirrus Design Corporation
16.2.12.1 Company Overview
16.2.12.2 Product Portfolio
16.2.12.3 Demographic Reach and Achievements
16.2.12.4 Certifications
16.2.13 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Aviation Market: Key Industry Highlights, 2018 and 2032
2. Global Aviation Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Aviation Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Aviation Historical Market: Breakup by Region (USD Billion), 2018-2023
5. Global Aviation Market Forecast: Breakup by Region (USD Billion), 2024-2032
6. North America Aviation Historical Market: Breakup by Country (USD Billion), 2018-2023
7. North America Aviation Market Forecast: Breakup by Country (USD Billion), 2024-2032
8. Europe Aviation Historical Market: Breakup by Country (USD Billion), 2018-2023
9. Europe Aviation Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Asia Pacific Aviation Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Asia Pacific Aviation Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Latin America Aviation Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Latin America Aviation Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Middle East and Africa Aviation Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Middle East and Africa Aviation Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Major Exporting Countries by Value
17. Major Importing Countries by Value
18. Major Exporting Countries by Volume
19. Major Importing Countries by Volume
20. Global Aviation Market Structure

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