The domestic aviation market size is expected to see steady growth in the next few years. It will grow to $1160.69 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. The growth in the forecast period can be attributed to economic recovery post-pandemic, sustainable aviation initiatives, business travel recovery, digital transformation, shifts in consumer behavior.. Major trends in the forecast period include evolving consumer expectations, government support and policies, airfare competition and pricing, customized passenger services, rise in short-haul flights.
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Segmentation & Regional Insights
The domestic aviation market covered in this report is segmented –
1) By Type: Commercial Aircrafts, Other Types
2) By Engine Type: Turbofan, Turboprop, Turboshaft
3) By End-User: Government, Commercial, Private
North America was the largest region in the domestic aviation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the domestic aviation 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
The increasing tourism industry is expected to boost the growth of the domestic aviation market going forward. The tourism sector also referred to as the travel sector, is associated with the idea of people traveling to other places, domestically or abroad, for leisure, social, or business reasons. After COVID-19 restrictions, tourists are free to move from one destination to another and hence, the frequency of taking flights has drastically increased. For instance, in June 2022, according to the report published by the World Tourism Organization, a Spain-based United Nations agency responsible for the promotion of responsible, sustainable, and universally accessible tourism reported in Q1 2022, international travel increased by 182% year over year, with 117 million visitors arriving in other countries compared to forty-one million in Q1 2021. Therefore, the increasing tourism industry is driving the domestic aviation market.
Key Industry Players
Major companies operating in the domestic aviation market report are Singapore Airlines Ltd., Air New Zealand Limited, Queensland and Northern Territory Aerial Services Ltd. (Qantas), Qatar Airways, Virgin Australia International Airlines Pty. Ltd., The Emirates Group, All Nippon Airways, EVA Airways Corporation, American Airlines, SpiceJet Ltd., The Boeing Company, Airbus SE, Lockheed Martin Corporation, Textron Inc., Embraer S.A., United Airlines Holdings Inc., Delta Air Lines Inc., Southwest Airlines Co., Air India Limited, LATAM Airlines Brasil, Gol Linhas Aéreas Inteligentes S.A, Azul Systems Inc., Air China Limited, Hainan Airlines Holding Co. Ltd., Spring Airlines Co. Ltd., Juneyao Air, Shenzhen Airlines Co. Ltd., Xiamen Airlines Co. Ltd., Lucky Air Co. Ltd., Tianjin Airlines Company Limited, Beijing Capital Airlines Co. Ltd.
The domestic aviation market report table of contents includes:
1. Executive Summary
2. Domestic Aviation Market Characteristics
3. Domestic Aviation Market Trends And Strategies
4. Domestic Aviation Market – Macro Economic Scenario
5. Global Domestic Aviation Market Size and Growth
…………….
31. Global Domestic Aviation Market Competitive Benchmarking
32. Global Domestic Aviation Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Domestic Aviation Market
34. Domestic Aviation Market Future Outlook and Potential Analysis
35. Appendix
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