Rising focus on the global connectivity, advancement in aviation technology and increasing demand for passenger and new generation aircraft is driving the Commercial Aircraft market.
According to the TechSci Research report, “Commercial Aircraft Market-Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2030F”, the market is anticipated to escalate with the rapid CAGR in the upcoming years. Commercial aeroplanes are transporters of both passengers and freight. General aviation and scheduled airline services are both possible on commercial aircraft. Consumer electronics, the government, and the food industry are just a few of the many sectors that can move freight, passengers, and business travellers using commercial planes. Commercial aircraft play a significant role in the global aviation system, in addition to contributing to long-term advances in the economy, society, and environment.
The global market for commercial aircraft is expanding because of numerous causes. The increase in air traffic over the past few years has been one of the main factors fueling market expansion. Developing nations make significant contributions in these areas, which helps the global market grow. Launching new air routes has played a significant role in the growth of the worldwide market by enhancing connectivity around the world. It is making the airline firms to increase the number of their aircraft. As a result, the demand for the acquisition of the newest commercial aircraft is increasing. Additionally, the population of the middle class has grown significantly in recent years. This is expected to fuel the growth of the global market along with the increasing trend and rising popularity of international travel.
A330-900 wide-body aircraft will be delivered to Taiwanese airline STARLUX Airlines in February 2022, according to an announcement from Airbus. The aircraft is the first of 26 wide-body aircraft the company will purchase. Eight A330neo and eighteen A350 aircraft also have been ordered by the airline.
A commercial aircraft lessor named Azorra placed a second order for 20 E-Jet E2s with Embraer in January 2022, according to an announcement made by Embraer.
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The global commercial aircraft market can be segmented based on aircraft type, engine type, application type, by end user and by region. In the aircraft type segment, the narrow-body aircraft category had the biggest market share. Owing to its benefits such as cheap operating costs and fuel economy on short-haul routes, newer generation narrow-body aircraft have seen a huge increase in demand in recent years. Additionally, as domestic passenger demand is expected to rebound more quickly than global passenger demand, there is likely to be a continued high demand for narrow-body aircraft. On the basis of engine type, the market is segmented in two parts: TurboFan and second is Turboprop. Aerial vehicles can quickly reach high speeds thanks to their big fans, which are built to rotate at a fast pace. This is one of the turbofan engine’s main driver of its widespread use. On the basis of application, the market is further bifurcated into passenger and freight aircraft. Among this, passenger aircraft is expected to have the largest share owing to global connectivity and less travel time from one place to another.
Some of the major players operating in the Global Commercial Aircraft Market include:
- 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.
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“OEMs of aircraft are making significant investments in the R&D of cutting-edge technologies. The aircraft manufacturing sector is also moving toward electric design of aircraft. The e-commerce sector’s expanding usage of cargo aircraft is also expected to fuel the industry’s expansion. Thus, it will increase the demand of commercial aircraft and will raise the competition among competitors”, -. said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Commercial Aircraft Market, By Aircraft Type (Narrow-Body Aircraft, Wide-body Aircraft, Regional Aircraft), By Engine Type (Turbofan, Turboprop), By Application (Passenger Aircraft, Freighter Aircraft), By End Use (Government, Private), By region, Competition Forecast & Opportunities, 2018- 2030F, has evaluated the future growth potential of Global Commercial Aircraft Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Commercial Aircraft Market.
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