As per the latest report published by Variant Market Research, Global Commercial Aircraft Market is expected to reach $346 Billion by 2024 from $244 Billion in 2016, growing at a CAGR of 4.4% from 2016 to 2024. Commercial aircrafts are plane that carries passengers or goods rather than military. Surging number of domestic and international flights and air-travel passengers, innovation in commercial aircraft design and advancement in technology are the primary drivers for the growth of global commercial aircraft market. The market is expected to show high boom in the coming years driven by some major factors such as, the critical status of intellectual property safety & security in sectors such as avionics and aircraft engine.
The growth of the global commercial aircraft market is mainly driven by factors such as growing tourism and improving economic conditions, rising number of air travelers, and improving commercial aviation network. However, lack of security and terrorism threats are the factors that may restrict the market growth. Moreover, significant growth in GDP and technological advancement in developing economies is expected to pose several growth opportunities for the market in the coming years.
The global commercial aircraft market is mainly classified on the basis of component, aircraft type, jet engine, and geography. The component segment comprises airframes, engine, systems, avionics, interior, and landing gear. Aircraft type segmentation consists of regional jets, business jets, large widebody, small widebody, narrow widebody, and medium widebody. By jet engine, the segment is bifurcated into turbo fan, and turboprop.
Based on geography, global commercial aircraft market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, Japan, South Korea, and others while RoW is bifurcated into South America, Middle East, and Africa.
The key players operating in the market are Airbus S.A.S., BAE Systems, American Champion Aircraft Corporation, CFM International, Inc, Defense and Space Co., Kawasaki Heavy Industries, The Boeing Company, GE Aviation, MD Helicopters Inc., and Pratt & Whitney International Aero Engines among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Commercial Aircraft Market with respect to major segments such as component, aircraft type, jet engine, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015 - 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Commercial Aircraft Market has been included in the report
- Profile of the key players in the Global Commercial Aircraft Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Commercial Aircraft Market
- Landing Gears
Aircraft Type Segments
- Regional jets
- Business jets
- Large Widebody
- Small Widebody
- Medium Widebody
- Narrow body
Jet Engine Segments
- North America
- ·Rest of Europe
- ·South Korea
- ·Rest of Asia-Pacific
- ·South America
- ·Middle East