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Domestic Aviation Market Report 2023 - Share Analysis, Leading Players, Growth, Trends, And Forecast To 2032
Domestic Aviation Market Analysis
The Business Research Company's Domestic Aviation Global Market Report 2023 identifies increasing tourism industry as the major driver for the domestic aviation market's growth in the forecast period. 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.
The global domestic aviation market size is expected to grow from $932.68 billion in 2022 to $961.68 billion in 2023 at a compound annual growth rate (CAGR) of 3.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The domestic aviation market size is expected to grow to $1,084.18 billion in 2027 at a CAGR of 3.0%.
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Major competitors in the domestic aviation market are Singapore Airlines, Air New Zealand, Qantas, Qatar Airways, Virgin Australia, Emirates, All Nippon Airways.
A key trend in the domestic aviation market includes technological advancement. Major companies operating in the domestic aviation market are focused on developing technological solutions to strengthen their position in the market. For instance, in February 2022, Garmin Limited, a US-based company delivering innovative GPS-enabled technology featured an expanded engine monitoring capability that is now available for select Pilatus PC-12/47 and PC-12/45 aircraft with the addition of the TXi Engine Indication System display. Additionally, Garmin has also received Federal Aviation Administration (FAA) Supplemental Type Certification (STC) for the GFC 600 autopilot in Pilatus PC-12/47 aircraft. With this installation, the system now offers additional operational features and capabilities, such as autopilot-coupled VNAV descents, fully coupled missed approaches, and Smart GlideTM safety technology, which can automatically engage the autopilot and pitch for the aircraft's best glide speed while guiding the aircraft within range of the chosen airport so the pilot can execute an approach and landing in the event of an engine failure.
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The domestic aviation market is segmented -
1) By Type: Commercial Aircrafts, Other Types
2) By Engine Type: Turbofan, Turboprop, Turboshaft
3) By End-User: Government, Commercial, Private
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the domestic aviation market.
The Business Research Company's "Global Domestic Aviation Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Domestic Aviation Market Include:
1. Executive Summary
2. Domestic Aviation Market Characteristics
3. Domestic Aviation Market Trends And Strategies
4. Domestic Aviation Market - Macro Economic Scenario
5. Domestic Aviation Market Size And Growth
…
26. Africa Domestic Aviation Market
27. Domestic Aviation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Domestic Aviation Market
29. Domestic Aviation Market Future Outlook and Potential Analysis
30. Appendix
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