Chicago, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Markets N Research has recently released expansive research on Global Airline Industry Market with 220+ market data Tables, Pie Chart, and Graphs & Figures spread through Pages and easy to understand detailed analysis. The report endows with wide-ranging statistical analysis of the market’s continuous developments, capacity, production, production value, cost/profit, supply/demand and import/export. This market report provides best solutions for strategy development and implementation depending on client’s needs to extract tangible results. This market research report serves the clients by providing data and information on their business scenario with which they can stay ahead of the competition in today's rapidly changing business environment.
As per the report titled "Airline Industry Market Size, Share & COVID-19 Impact Analysis, By Commercial Airlines (Passenger Aircraft and Freight Aircraft), By Destination (Domestic and International), and Regional Forecasts, 2023-2030" observes that the market size in 2022 stood at USD 513.5 billion and USD 635.8 billion in 2030. The market is expected to exhibit a CAGR of 3.10% during the forecast period.
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Airline Industry Market Analysis:
Due to rising disposable income, a rapidly expanding middle class, and rising travel demand, it is anticipated that the global airline industry market will expand during the coming years. Additionally, the cost of jet fuel is anticipated to be relatively steady during the forecast, enabling airlines to impose surcharges and generate extra money from the transportation of passengers and cargo. International trade in manufactured goods, notably in the components sector, which makes up a sizeable portion of current cross-border trade, depends on air transportation. This year, international trade transported by air will be worth $7.5 trillion, an increase of 15% from 2019, and it will increase by an additional 7.2 percent in 2022. Thus, increasing tourist spending on air travel—which reached $354 billion in 2021—is another factor driving industry expansion.
Report Scope:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023 to 2030 CAGR | 3.10 % |
| 2030 Value Projection | 635.8 billion |
| Base Year | 2022 |
| Market Size in 2022 | 513.5 billion |
| Historical Data for | 2016 - 2021 |
| Segments covered | By Commercial Airlines, By Destination, and By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
List Of Key Companies Profiled:
- Air France-KLM S.A.
- American Airlines Group Inc.
- Ana Holdings Inc.
- British Airways Plc
- Delta Air Lines, Inc.
- Deutsche Lufthansa AG
- Hainan Airlines Co., Ltd.
- Japan Airlines Co., Ltd.
- LATAM Airlines Group S.A.
- Qantas Airways Limited
- Ryanair DAC
- Singapore Airlines
- Southwest Airlines Co.
- Thai Airways International PCL
- United Airlines Holdings, Inc.
- WestJet Airlines Ltd
US Civil Air Patrol Established a Partnership with Textron Aviation (CAP):
In June 2020, the US Civil Air Patrol (CAP) announced an agreement with Textron Aviation. 17 Cessna piston-engine aircraft, including 11 Skyhawk 172S, 5 Skylane 182T, and 1 Turbo Stationair HD T206HD, to be delivered under the terms of the contract. These aircraft will be used, among other things, for homeland security and disaster relief operations.
Major Players Develop Acquisition Plans to Boost Brand Image:
The leading businesses in the airline industry market plan acquisitions to improve their brand recognition globally. For instance, in October 2022, Alaska Airlines placed an order for 52 Boeing 737 MAX planes as part of a fleet-expansion strategy. The airline industry anticipates having an entirely Boeing mainline fleet by the end of 2023.
Recent Development:
- September 2022: The US Navy has awarded Lockheed Martin a firm-fixed contract to build 12 Sikorsky MH-60R Seahawk helicopters for the Royal Australian Navy. The OEM will deliver these 12 helicopters sometime between mid-2025 and mid-2026.
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Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- MNR research methodology
Driving Factors:
- Quick and Efficient Services will Enable the Airline Industry to Create Impressive Income
The significant increase in travel, e-commerce, and logistical transportation over the past few years has significantly impacted the airline industry market. Easy access to locations and the absence of physical obstacles are key factors propelling the airline industry market. Airlines can travel to and operate in remote areas inaccessible by other forms of transportation. Airlines don't need any new infrastructure, like train tracks or highways, to reach their destination. Therefore, they can take the shortest path possible. Additionally, airline industries are essential to the nation's security because modern planes are so important to warfare because they can travel long distances quickly.
- Increased Use of Software and Hardware Solutions for Health Monitoring could Lead to Enormous Industry Potential
In the coming years, the airline industry will heavily rely on digital solutions like the Internet of Things and big data analytics. The increased cooperation across hardware, software, and integration suppliers to meet business objectives and deliver unbroken services globally may create new market opportunities. In the coming years, deploying AI-based check-in counters at airports and appropriate health screening technology will also improve the industry's growth prospects. Additionally, with big data analytics and the internet of things, airports and airline companies can lower the fixed costs associated with their locations, assisting governments in doing the same while ensuring smooth operations. Over the projected period, these factors are anticipated to improve the growth potential for the airline industry market.
Restraining Factors:
- Need for Significant Infrastructure Improvements could Impede the Expansion of the Market
Significant investments are needed to build airports, airbases, and aircraft, among other necessities. A further factor that is expected to limit market growth in the near future is the need for a highly qualified, experienced, and competent workforce for aircraft maintenance. Additionally, due to the extremely low carrying capacity and high transit costs of aircraft, the airline industry market expansion may be hampered.
Challenging Factors:
- Impact of COVID-19 Limited the Market Expansion
The COVID-19 pandemic's protracted instability has significantly impacted the aviation sector market since it has created issues with cash flow, supply chain obstacles, and chronically low demand for aircraft makers globally. The dramatic fall in demand for passenger air travel due to the COVID-19 epidemic is another important factor imperiling the survival of various enterprises in the aviation sector market. As a result, all international air travel has been halted because of the COVID-19 pandemic outbreak. This will ultimately lead to a decline in the airline industry's market revenue during the epidemic.
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Global Airline Industry Market Segmentations:
Global Airline Industry Market By Commercial Airlines:
- Passenger Aircraft
- Freight Aircraft
Global Airline Industry Market By Destination:
- Domestic
- International
Global Airline Industry Market Regional Insights:
The Asia Pacific is projected to hold the largest airline industry market share over the forecast period. The significant increase in air traffic, supportive government measures, and the expanding tourism sector in Asia, particularly in India, Thailand, Singapore, and Japan, are the main drivers of the Asia-Pacific airline market's substantial expansion. The Asia-Pacific airline industry market is also benefiting from some of the major investments and advances in the Asian airline industry market. On the other hand, the North American airline industry market is anticipated to grow significantly over the forecast period. The rise in high-net-worth people (HNWIs), along with continuous research and development efforts focused on producing light aircrafts, are expected to support the North American airline industry market during the projection period.
Further Report Findings:
- The market in the Asia Pacific is expected to gain a huge portion of the global airline industry market share in the coming years. Due to a rise in demand for air travel, the region's growing economies, like China and India, are seeing a significant increase in their respective civil aviation markets.
- Due to strong local demand, which is assisting the airlines' financial recovery, China is leading in the revival of commercial aviation worldwide.
- In North America, the growth in this region is primarily driven by a large aircraft fleet, a high number of aircraft operators, and a desire for development in the airline industry market are all present in the United States.
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Key questions answered in this report:
- What is the size of the Airline Industry market and what is its expected growth rate?
- What are the primary driving factors that push the Airline Industry market forward?
- What are the Airline Industry Industry's top companies?
- What are the different categories that the Airline Industry Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Airline Industry market sample report and company profiles?
Key Offerings:
- Airline Industry Market Share, Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis By Commercial Airlines, By Destination, and By Geography
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Table of Content:
Chapter 1: Preface
Chapter 2: Report Summary
Chapter 3: COVID 19 Impact Analysis
Chapter 4: Global Airline Industry Market, By Commercial Airlines Segment Analysis
Chapter 5: Global Airline Industry Market, By Destination Segment Analysis
Chapter 6: Airline Industry Market – Regional Analysis, 2022 – 2030
Chapter 7: Airline Industry Market – Industry Analysis
Chapter 8: Competitive Landscape
Chapter 9: Company Profiles
Chapter 10: Research Methodology
Chapter 11: Questionnaire
Chapter 12: Related Reports
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Key Insights from Primary Research/Key Insights & Findings from the report:
- As per the analysis shared by our primary respondents, the Airline Industry market is expected to grow annually at a CAGR of around 3.10%.
- Through primary research, it was established that the Airline Industry market was valued at around USD 513.5 billion in 2022.
- The Airline Industry market is segmented based on Commercial Airlines: passenger aircraft and freight aircraft. The freight aircraft category was predicted to show maximum market share in the year 2022.
- The key factor driving the market is Quick and Efficient Services.
- The “Asia Pacific” region will lead the global Airline Industry market during the forecast period 2022 to 2030.
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