Aviation Market - Opportunities, Trends and Challenges (2018-2023)
The market can be classified under two categories; Civil Aviation (that includes General Aviation and Scheduled air transport) and military aviation. Scheduled Air Transport and Military aviation are huge markets with a combined size of over trillion dollars. Growth rates of scheduled air transport and military aviation market will set the trend for the overall rate of growth for global aviation. General Aviation Market with annual sales of just over $25 billion stands at a distant third within the global aviation market. Due to huge supply constraint in scheduled air transport and falling defense expenditures by the industrialized countries, the global aviation market will grow at a CAGR of 3.83% till 2020.
United States accounted for more than 65% of the General Aviation Aircraft sold across the world with 1,529 units in 2015, while only 823 units were sold across the rest of the world. India and China have huge potential to be future market leaders and that would drive the demand for general aviation aircraft’s over the coming years in the Asia Pacific region.
There has been a global boom in demand for commercial jets, starting from 2011, because of the introduction of new technologies that enabled jets to record superior fuel efficiencies. During 2011-12, the price of ATF was at its peak, so efficiency considerations played a huge part in buying decisions. The demand overshadowed the supply resulting in delivery backlogs even for the market leaders. Airbus and Boeing have an order book in excess of 10,000 aircraft, which represents 10 years worth of production. This is one major reason for the estimated stagnant growth for the commercial jet market over the coming 10 years. Low Cost Carriers, who presently control 1/4th of the total airline market, will grow rapidly at the expense of full service carriers and are expected to hold close to 1/3rd market share by 2020.
The Military Turbine Fixed Wing Market is showing tremendous growth due to massive spending in emerging economies like India, China, and Russia. India recently placed an order for 6 Lockheed Martin Super Hercules Aircraft and the Boeing P8i Orion Maritime Surveillance aircraft reaffirming the potential of the growth prospect for military aviation.
The penetration of rotary wing in civil aviation though is quite substantial in North America, Europe and in certain countries of Latin America, as a whole, it is negligible in countries such as India where the lack of connectivity and airports make helicopters very useful. One of the reasons for that are the strict and unrealistic regulations and laws. Relaxation of these laws is expected to open up huge opportunity for the Rotary Wing Sector in developing countries like India. Currently Sao Paulo is considered as the helicopter capital of the world due to the presence of one of the highest number of helicopters per capita globally.
ATR, Bombardier, Embraer, Boeing, Airbus and Cessna are some of the major players in the global aviation market. The report has been segmented by role (military, civilian), by type (rotary wing, fixed wing), by engine type (piston, turbine) and by geography (North America, South America, Europe, Asia Pacific, Africa & Middle-East).
What the report offers
1. Market analysis for the Global Aviation Market, with region specific assessments and competition analysis on global and regional scales
2. Market definition along with the identification of key drivers and restraints
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
4. Extensively researched competitive landscape section with profiles of major companies along with their market shares
5. Identification and analysis of the macro and micro factors that affect the Global Aviation Market on both global and regional scales
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
8. Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped