Overview and Scope
The commercial aircraft refers to civilian and commercial aircraft used for commercial purposes such as passenger and cargo transportation. The main components of commercial aircraft include fuselage, wings, cockpit, engine, propeller, tail assembly, and landing gear.
Sizing and Forecast
The commercial aircraft market size has grown exponentially in recent years. It will grow from $195.84 billion in 2023 to $248.11 billion in 2024 at a compound annual growth rate (CAGR) of 26.7%. The growth in the historic period can be attributed to growing air travel demand, economic conditions, airline profitability, geopolitical stability, environmental regulations.
The commercial aircraft market size is expected to see strong growth in the next few years. It will grow to $308.24 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to incresing sustainable aviation, urban air mobility, increased connectivity, health and safety considerations, government investments. Major trends in the forecast period include technology integration, technological advancements, transition to more fuel-efficient engines, growing demand for narrow-body aircraft, adoption of advanced materials.
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Segmentation & Regional Insights
The commercial aircraft market covered in this report is segmented –
1) By Type: Passenger Aircrafts, Commercial Helicopters, Commercial Gliders and Drones, Aircraft Turbines, Aircraft Engines, Rocket Engines
2) By Engine Type: Turbofan, Turboprop, Turboshaft
3) By Size: Wide-Body, Narrow-Body, Regional, Others
4) By End-User: Government, Private Sector
5) By Operation: Autonomous Aircraft, Manual
North America was the largest region in the commercial aircraft market in 2023. North America is expected to be the fastest growing region in the forecast period. The regions covered in the commercial aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Legal authority allowing the use of drones for commercial use is being extended more widely, increasing a potential revenue channel for aircraft manufacturers. For example, the US Federal Aviation Authority issued a rule allowing the use of drones for commercial purposes under certain conditions without a special waiver that was expensive and time-consuming to obtain that severely restricted the use of drones. Relaxation of the regulations is expected to aid the market for commercial drones in the forecast period. Many other countries follow the FAA’s regulatory lead to clear commercial drones for take-off not just in the USA but worldwide. Combined with the launch of reliable and stronger drones specifically for commercial use, such as the drones manufactured by a Chinese company, DJI, and public sales of commercial drones, these are expected to drive rapid growth in the drone segment of the commercial aircraft manufacturing market.
Key Industry Players
Major companies operating in the commercial aircraft market report are General Electric Company, The Boeing Company, Lockheed Martin Corporation, Airbus Group SE, General Dynamics, Xi’an Aircraft Corporation, Northrop Grumman Corp., Mitsubishi Heavy Industries Ltd., BAE Systems PLC, Safran SA, Raytheon Technologies Corporation, Leonardo SpA, Textron Aviation Inc., Kawasaki Heavy Industries Ltd., Ishikawajima-Harima Heavy Industries Co. Ltd., Gulfstream Aerospace Corporation, Bombardier Inc., Dassault Aviation SA, United Aircraft Corporation, Shenyang Aircraft Corporation, Israel Aerospace Industries, Beijing Aircraft Design and Research Institute, Tianjin Aircraft Design Institute, Hindustan Aeronautics Limited (HAL), Pilatus Aircraft Ltd., Sukhoi Civil Aircraft Company, Piaggio Aero Industries S.p.A., Chengdu Aircraft Design Institute, Hangzhou Aircraft Manufacturing Co. Ltd., Shanghai Aircraft Design and Research Institute,
The commercial aircraft market report table of contents includes:
1. Executive Summary
2. Commercial Aircraft Market Characteristics
3. Commercial Aircraft Product/Service Analysis -Product/Service Examples
4. Commercial Aircraft Market Trends And Strategies
5. Commercial Aircraft Market – Macro Economic Scenario
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31. Belgium Commercial Aircraft Market
32. Denmark Commercial Aircraft Market
33. Finland Commercial Aircraft Market
34. Ireland Commercial Aircraft Market
35. Netherlands Commercial Aircraft Market
36.Appendix
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