Commercial Aircraft Market 2019 Global Industry Share, Trends, Segmentation & Forecast To 2022
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The market growth is driven by various factors such as - increasing number of air passengers, improvements in commercial aviation network, development of eco-friendly and fuel-efficient aircraft, rise in tourism, and economic development. A large number of initiatives have been undertaken by governments from various countries including India, China, UK, Russia, and Brazil to improve the aviation network infrastructure such as, flexible regulations for the development of commercial aircraft, lowering the taxes, and investments in R&D. However, congestion & delay in air traffic, lack of security, and threat of terrorism tend to hinder the growth in commercial aircraft market worldwide.
Some of the Major Market Players Are:
•Airbus Group SE
•The Boeing Company
•Commercial Aircraft Corporation of China, Ltd.
•Public Joint Stock Company United Aircraft Corporation
•United Technologies Corporation
•Lockheed Martin Corporation
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In 2014, commercial aircraft with turbofan engine segment accounted for about 59% of the total market. It is expected to dictate the analysis period with a CAGR of 5.9%, owing to its eco-friendly and low-noise design. Geographically, Asia-Pacific market dominated the global commercial aircraft market in 2014. It is expected to continue its dominance with a CAGR of 6.4% due to an increase in the number of air passengers, significant growth in GDP of prominent countries in Asia-Pacific, supportive government initiatives, and a possible increase in demand for wide-body aircraft.
However, the maximum share in the revenue generation came from narrow-body commercial aircraft segment in 2014. While the wide-body commercial aircraft segment is anticipated to grow at a CAGR of 6.2%, the narrow-body commercial aircraft segment accounted for around 50% of total market in 2014, due to its short-haul transport and cost-saving design.
Promising Regions & Countries Mentioned In The Commercial Aircraft Market Report:
•North America ( United States)
•Europe ( Germany, France, UK)
•Asia-Pacific ( China, Japan, India)
•Latin America ( Brazil)
•The Middle East & Africa
Among the verticals, government sector generated the maximum revenue in the commercial aircraft market- around 56% of total revenue in 2014; and is expected to dominate the market with a CAGR of 5.1%. However, private sector may grow at a faster CAGR of 6.6% by 2022 due to lower fuel prices, increasing number of air passengers for domestic as well as international air travel, and privatization of airports.
Commercial Aircraft Market: https://www.alliedmarketresearch.com/press-release/commercial-aircraft-market.html
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