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Domestic Aviation Global Market Report 2024 - By Report, Size, Trends, Key Factors, Forecast To 2033
The Business Research Company presents an extensive market research report on the Domestic Aviation Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The domestic aviation market size has grown steadily in recent years. It will grow from $961.96 billion in 2023 to $995.08 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to economic growth, airline deregulation, urbanization and population growth, infrastructure development, tourism promotion..
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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Key Market 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.
Market Drivers:
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.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/domestic-aviation-global-market-report
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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