Commercial aircraft market is estimated to value US$164.3 Billion in 2017, which is expected to grow at a CAGR of 3.58% to value US$233.4 Billion by 2027. The cumulative market for global expenditure on commercial aircraft is estimated at US$2.2 Trillion over the forecast period. The expenditure on commercial aircraft is expected to be driven by the increase in low cost carriers, and the need to meet air passenger traffic to fuel new commercial aircraft procurement.
In terms of segments, single-aisle and twin-aisle aircraft are expected to account for 50.8% and 42.1% of the commercial aircraft market respectively, followed by regional and cargo jets with a cumulative share of 6.0%. The business jets will account for the remaining 1.1% share of the total commercial aircraft market. The single-aisle aircraft segment is likely to grow at a CAGR of 4.83% during the forecast period. An increase in the middle class is expected to drive the growth of air travel in the Asia-Pacific region.
China, Indonesia, and India are the three major countries that are expected to procure more single-aisle aircraft compared to other Asia-Pacific countries.
Furthermore, a significant portion of the active fleet needs replacement in the coming years. This is owing to the age, requirement of maintenance activities, the overall industry and market environment, and relative airplane economics that are expected to drive the commercial aircraft market during the forecast period.
Commercial aircraft market is expected to be led by Asia-Pacific region, with an estimated share of 34.5% over the forecast period, followed by North America and Europe with shares of 27.5% and 17.6% respectively. The Middle Eastern market for commercial aircraft is expected to account for a share of 13.3%, followed by the Latin American and African markets with a cumulative share of 7.2%.
Asia-Pacific is the largest market for commercial aircraft globally owing to numerous countries in the region with strong economic growth. The region’s rapid middle class economic growth and expansion has resulted in substantial demand for air travel in recent times. Furthermore, domestic air travel in these countries has grown significantly over the last few years owing to the rise of low cost carrier models among the airliners.
Major countries, such as the US and some European countries, have been viewed as the important centers of the global commercial aircraft market. However, this has changed in recent years with the saturation of these markets, and resultant negligible growth. Asia-Pacific and Middle Eastern countries, which are experiencing robust economic growth, are emerging in the market with maximum growth potential, while the US and Europe are expected to procure aircraft primarily for fleet modernization.
The report “The Global Commercial Aircraft Market 2017-2027” offers detailed analysis of the global commercial aircraft market over the next ten years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry, and analyzes factors influencing demand for commercial aircraft.
In particular, it provides an in-depth analysis of the following -
- Overview: Snapshot of the global commercial aircraft market during 2017-2027, including highlights of the demand drivers, trends and challenges. It also provides a snapshot of the spending with respect to regions as well as segments.
- Market Dynamics: Insights into the technological developments in the commercial aircraft market and a detailed analysis of the changing preferences of governments around the world. It also analyzes changing industry structure trends and the challenges faced by industry participants.
- Segment Analysis: Insights into the commercial aircraft market from a segmental perspective and a detailed analysis of factors influencing the market for each sector.
- Regional Analysis: Insights into the commercial aircraft market from a regional perspective and a detailed analysis of factors influencing the market for each region.
- Trend Analysis - Key Commercial Aviation Market: Analysis of the key markets in each region, providing an analysis of the commercial aircraft segments expected to be in demand in each region.
- Key Program Analysis: Details of the top programs in each segment expected to be executed during the forecast period.
- Competitive Landscape Analysis: Analysis of competitive landscape of the global commercial aircraft industry. It provides an overview of the key companies, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.
Companies mentioned in this report: The Boeing Company, Airbus S.A.S, Commercial Aircraft Corporation of China Ltd., United Aircraft Corporation, Bombardier, Embraer.
- The global commercial aircraft market is expected to grow at a CAGR of 3.58% over the forecast period.
- The market consists of five categories: Single-Aisle aircraft, Twin-aisle aircraft, Regional Jets, Cargo Aircraft, and Business Jets. It is expected to be dominated by the Single-Aisle segment, followed by Twin-Aisle and Regional Jets segments. The Asia Pacific region is forecasted to dominate the sector with a share of 34.5%, followed by the North American market. UK, Ireland and Russia account for major market share in the European region.
Reasons To Buy
- Determine prospective investment areas based on a detailed trend analysis of the global commercial aircraft market over the next ten years
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- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global commercial aircraft market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the commercial airline companies of different countries within the global commerical aircraft market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top commercial aircraft manufacturers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available