Dublin, Oct. 03, 2023 (GLOBE NEWSWIRE) -- The "Commercial Aircraft Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2030F Segmented By Aircraft Type (Narrow-Body Aircraft, Wide-body Aircraft, Regional Aircraft), By Engine Type (Turbofan, Turboprop), By Application, By End Use, and By Region" report has been added to ResearchAndMarkets.com's offering.
The global commercial aircraft market is poised for substantial growth to 2030
Airlines are keen on expanding their fleets as international tourism continues to thrive and becomes more accessible to a wider audience. Furthermore, the airline industry is shifting its focus towards upgrading to a new generation of aircraft, prioritizing enhanced customer experiences.
Commercial aircraft play a vital role in the global aviation system, contributing to long-term improvements in economic, social, and environmental aspects. The industry's growth is further propelled by advancements in aviation technology, the integration of lightweight carbon composites in manufacturing, and the increasing demand for fuel-efficient aircraft.
However, the COVID-19 pandemic had a significant impact on travel activity and airline finances in 2020, leading many airlines to defer or cancel their aircraft orders. Consequently, commercial aircraft manufacturers reduced their production rates. The aviation sector saw a notable recovery in 2021, resulting in a substantial increase in aircraft deliveries compared to 2020. Airbus and Boeing jointly delivered 951 aircraft in 2021, a significant jump from the 723 delivered in the previous year.
One of the primary drivers of this growth is the rising number of air passengers worldwide. Air travel is becoming the preferred mode of transportation due to its comfort, speed, and the increasing disposable income of individuals. As the demand for air travel surges, airlines and aircraft operators are investing in fleet modernization initiatives.
For example, United Airlines expedited its deferred aircraft order for 45 Boeing 737 MAX deliveries to 2022 and 2023. The airline also placed orders for 70 Airbus A321neo aircraft and an additional 200 Boeing 737 MAX aircraft, including 150 Boeing 737-10 and 50 Boeing 737-8 aircraft, as part of its post-COVID-19 growth strategy.
The aviation industry is also witnessing the emergence of new generation aircraft equipped with advanced features and safety standards. These modern aircraft incorporate sophisticated subsystems and cutting-edge technologies to meet evolving safety requirements and environmental standards. The use of innovative materials and components in newer aircraft models reduces the need for frequent maintenance. Consequently, airlines are increasingly inclined to update their fleets with more recent and fuel-efficient aircraft models.
For instance, Embraer introduced the medium-range Embraer E2 Series of jet aircraft, comprising the E-175-E2, E-190-E2, and E-195-E2 versions. The E195-E2 made its debut in 2019, while the E190-E2 entered service in 2018. The E175-E2 variant is expected to commence service in 2024. Boeing's 777X series represents the latest addition to the long-range, wide-body, twin-engine aircraft segment. This series includes two variations: 777-8 and 777-9. A total of 320 Boeing 777X aircraft are scheduled for delivery by November 2021, with flights expected to commence by 2024.
However, the expansion of the commercial aircraft sector faces challenges related to air traffic congestion and delays. The growing popularity of air travel, with approximately 4.6 billion scheduled passengers in 2019, reflects a nearly 130% increase since 2004. The Federal Aviation Administration (FAA) oversees approximately 16,405,000 flights per year and monitors over 10,000,000 scheduled passenger flights, as reported by the Air Traffic Organization (ATO).
Air traffic congestion and delays remain a primary constraint on the sector's growth. Delays occur when demand for airports or airspace surpasses available capacity. Addressing this issue involves increasing capacity through measures such as enhancing travel routes and improving air traffic control systems, which are the focus of major aviation service providers.
Competitive Landscape
Key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.
Company Profiles: Detailed analysis of the major companies present in the global commercial aircraft market.
- Company Details
- Products & Services
- Financial (As Reported)
- Recent Development
- Key Management Personnel
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- Boeing.
- Airbus Group, Inc.
- Embraer S.A.
- Bombardier Inc.
- Commercial Aircraft Corporation of China, Ltd
- United Aircraft Corporation
- Mitsubishi Aircraft Corporation
- Dassault Aviation
- Beechcraft Corporation
- Pilatus Aircraft Ltd
Report Scope:
Strategic Recommendations
- Key Focus Areas
- Target Regions & Countries
- Target Aircraft Type
- Target Engine Type
Voice of Customer
- Factors Influencing Purchase Decision
- Brand Awareness
- Brand Satisfaction Level
Commercial Aircraft Market, By Aircraft Type:
- Narrow-Body Aircraft
- Hydrogen fuel Wide-body Aircraft
- Power to liquid fuel Regional Aircraft
Commercial Aircraft Market, By Engine Type:
- Turbofan
- Turboprop
Commercial Aircraft Market, By Application Type:
- Passenger Aircraft
- Freighter Aircraft
Commercial Aircraft Market, By End User:
- Government
- Private
Commercial Aircraft Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe & CIS
- Germany
- Russia
- France
- Spain
- Italy
- United Kingdom
- Switzerland
- Netherland
- Norway
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Indonesia
- Thailand
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- South America
- Argentina
- Brazil
- Colombia
For more information about this report visit https://www.researchandmarkets.com/r/ropg6v
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