Coronavirus Outbreak: Domestic Aviation Market Fights Back with Well-defined Business Strategies by Singapore Airlines, Air New Zealand, Qantas, Qatar Airways, Virgin Australia, Emirates, All Nippon Airways, EVA Air

Air transport is the fastest mode of transport compared to road, rail and marine transport. Due to the increasing demand for faster transport of perishable pharmaceutical products, the aviation industry has witnessed a significant growth in the recent years. Domestic flight means where the departure and arrival take place in the same country. In aviation industry different types of aircraft such as passenger, freight, hybrid and private jets are used to transport the goods or people.

The global domestic aviation market is expected to witness significant growth during the forecast period (2020-2027). The growth of the domestic aviation market is majorly attributed to the improving standard of living of standard in emerging economies such as China and India. Moreover the GPD per capita income around the globe is also expected to propel the growth of the market in the coming years.

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The major factors restraining the growth of the global domestic aviation market are higher air fares and effect of contagious diseases such as COVID-19. Many countries have banned domestic air travel as a precautionary measure to prevent the spread of COVID-19. For instance, according to the Directorate General of Civil Aviation of India all domestic air flights were suspended till 3 May, 2020 due to COVID-19. The domestic air flights were banned from 20 March in India. COVID-19 is expected to have the long term implications on the global domestic aviation market.

Statistics:

North America held dominant position in the global domestic aviation market in 2019, accounting for 43.7% share in terms of value, followed by Europe and Asia Pacific, respectively

North America held dominant position in the global domestic aviation market in 2019, and is projected to retain its dominance throughout the forecast period owing to the presence of the largest commercial airline company and the highest number of air fleets.

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According to CMI analysis, the American Airline is the largest airline in the world based upon the revenue. In 2018, the American Airline generated a revenue of US$ 44.5 billion and had a fleet of 917 aircraft as of 2018. According to same analysis, the Asia Pacific region is expected to show highest growth during the forecast period owing to the emerging economies such as China and India. Moreover, according to a report by the India Brand Equity Foundation, India is expected to become the 3rd largest aviation market by the end of 2020.

Surge in demand for commercial aircraft across the globe is expected to drive the growth of the Domestic Aviation Market during the forecast period

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Based on type, the commercial aircraft segment is expected dominate the global domestic aviation market during the forecast period. This is owing to the rising demand of new aircraft to cater the increasing demand of air travel. Also aviation companies are replacing older aircraft by the new advanced aircraft. For instance, Indigo airline signed a agreement to buy 300 new aircraft from Airbus SE in October, 2019. Moreover, United Airlines made a US$ 6 Billion deal with Airbus SE to buy 50 Long Range Airbus A321XLR Aircraft. Companies around the globe are purchasing aircraft to cater the increasing air travel demand. Owing to all these reasons the global domestic aviation Market is anticipated to show the significant growth during the forecast period.

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