Press release
Commercial Aircraft Market Trends, Demand, Share, Analysis 2024 To 2033
Commercial Aircraft Market
The Business Research Company offers in-depth market insights through Commercial Aircraft Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The commercial aircraft market size has grown exponentially in recent years. It will grow from $195.84 billion in 2023 to $248.11 billion in 2024 at a compound annual growth rate (CAGR) of 26.7%. The growth in the historic period can be attributed to growing air travel demand, economic conditions, airline profitability, geopolitical stability, environmental regulations.
The commercial aircraft market size is expected to see strong growth in the next few years. It will grow to $308.24 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to incresing sustainable aviation, urban air mobility, increased connectivity, health and safety considerations, government investments. Major trends in the forecast period include technology integration, technological advancements, transition to more fuel-efficient engines, growing demand for narrow-body aircraft, adoption of advanced materials.
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Market Segmentation:
The commercial aircraft market covered in this report is segmented -
1) By Type: Passenger Aircrafts, Commercial Helicopters, Commercial Gliders and Drones, Aircraft Turbines, Aircraft Engines, Rocket Engines
2) By Engine Type: Turbofan, Turboprop, Turboshaft
3) By Size: Wide-Body, Narrow-Body, Regional, Others
4) By End-User: Government, Private Sector
5) By Operation: Autonomous Aircraft, Manual
Major Driver - Expanding Legal Frameworks Boosting Commercial Drone Use
Legal authority allowing the use of drones for commercial use is being extended more widely, increasing a potential revenue channel for aircraft manufacturers. For example, the US Federal Aviation Authority issued a rule allowing the use of drones for commercial purposes under certain conditions without a special waiver that was expensive and time-consuming to obtain that severely restricted the use of drones. Relaxation of the regulations is expected to aid the market for commercial drones in the forecast period. Many other countries follow the FAA's regulatory lead to clear commercial drones for take-off not just in the USA but worldwide. Combined with the launch of reliable and stronger drones specifically for commercial use, such as the drones manufactured by a Chinese company, DJI, and public sales of commercial drones, these are expected to drive rapid growth in the drone segment of the commercial aircraft manufacturing market.
Competitive Landscape:
Major companies operating in the commercial aircraft market report are General Electric Company, The Boeing Company, Lockheed Martin Corporation, Airbus Group SE, General Dynamics, Xi'an Aircraft Corporation, Northrop Grumman Corp., Mitsubishi Heavy Industries Ltd., BAE Systems plc, Safran SA, Raytheon Technologies Corporation, Leonardo SpA, Textron Aviation Inc., Kawasaki Heavy Industries Ltd., Ishikawajima-Harima Heavy Industries Co. Ltd., Gulfstream Aerospace Corporation, Bombardier Inc., Dassault Aviation SA, United Aircraft Corporation, Shenyang Aircraft Corporation, Israel Aerospace Industries, Beijing Aircraft Design and Research Institute, Tianjin Aircraft Design Institute, Hindustan Aeronautics Limited (HAL), Pilatus Aircraft Ltd., Sukhoi Civil Aircraft Company, Piaggio Aero Industries S.p.A., Chengdu Aircraft Design Institute, Hangzhou Aircraft Manufacturing Co. Ltd., Shanghai Aircraft Design and Research Institute.
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Top Trend - Machine Learning In Aircraft Manufacturing
Aircraft manufacturers are using machine-learning techniques such as artificial intelligence (AI) to improve aircraft safety and quality and to improve manufacturing productivity. Machine learning algorithms collect data from machine-to-machine and machine-to-human interfaces and use data analytics to drive effective decision-making. These technologies optimize manufacturing operations and lower costs. For example, GE Aviation uses machine learning and data analytics to identify faults in engines, which increases component life and reduces maintenance costs. Boeing has successfully built machine-learning algorithms to design aircraft and automate factory operations.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Commercial Aircraft Market Characteristics
3. Commercial Aircraft Market Trends And Strategies
4. Commercial Aircraft Market - Macro Economic Scenario
5. Commercial Aircraft Market Size And Growth
…..
27. Commercial Aircraft Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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