Aircraft Manufacturing Market Report 2024-2033: Size, Share, Growth, Trends, Key Players, Outlook

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Aircraft Manufacturing Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $588.06 billion In 2028 At A CAGR Of 6.3% :
The aircraft manufacturing market size has grown strongly in recent years. It will grow from $434.45 billion in 2023 to $461.34 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to commercial air travel growth, globalization of air transport, replacement cycles, rise of low-cost carriers, environmental regulations.

The aircraft manufacturing market size is expected to see strong growth in the next few years. It will grow to $588.06 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to demand for sustainable aviation, rapid growth in emerging markets, urban air mobility (am), strategic alliances and global collaboration, focus on passenger experience. Major trends in the forecast period include digitalization and industry 4.0, technological innovation in electric and hybrid aircraft, technological advancements, increased demand for fuel efficiency, growing market for electric and hybrid aircraft, integration of advanced avionics and connectivity.

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Aircraft Manufacturing Market Major Segments
The aircraft manufacturing market covered in this report is segmented -
1) By Product: Gliders, Helicopters, Ultra-Light, Passenger, Unmanned Aerial Vehicles and Drones, Blimps (Airship)
2) By Aircraft Type: Freighter Aircraft, Passenger Aircraft
3) By Application: Military And Defense, Civil, Commercial (Freight), Other Applications

Key Driver - Rising Air Passenger Traffic Fuels Growth In The Aircraft Manufacturing Market
The increasing air passenger traffic is expected to propel the growth of the aircraft manufacturing market going forward. Air passenger traffic is measured by the number of passengers carried by airlines or airports over a certain period. It is a key indicator of demand for air travel, influenced by economic conditions, consumer preferences, travel restrictions, and airline competition. The increasing demand for air travel and rising passenger traffic has created opportunities for the aircraft manufacturing industry to grow as airlines require more aircraft to expand their fleets and offer new routes and services, which drives demand for new aircraft orders. For instance, in December 2022, according to Eurostat's air transport statistics, a Luxembourg-based government agency, the number of passengers transported by air increased to 373 million in 2021, up from 216 million in 2020. Therefore, the rising air passenger traffic will drive the aircraft manufacturing market going forward.

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Prominent Trend - Electric Aviation Transforming The Aircraft Manufacturing Market

Major companies operating in the aircraft manufacturing market are focused on developing new solutions such as electric aircraft manufacturing plants to gain a competitive edge in the market. Electric aircraft are aerial vehicles powered by electric propulsion systems, relying on electric motors for thrust. For instance, in October 2023, Beta Technologies, a US-based aerospace company, launched a state-of-the-art electric aircraft production facility at the Patrick Leahy Burlington International Airport. The 188,500-square-foot facility, designed to be net-zero and equipped with sustainable technology, will manufacture BETA's all-electric aircraft, including the ALIA CTOL and the ALIA VTOL, targeting military and commercial markets. The facility's sustainable features include geothermal wells, roof-mounted solar panels, and a focus on efficiency and people-centric design. BETA's balanced manufacturing approach involves both vertical integration and collaboration with top aerospace suppliers, with plans to produce up to 300 aircraft annually.

Aircraft Manufacturing Market Players
Major companies operating in the aircraft manufacturing market report are The Boeing Company, Lockheed Martin Corporation, Airbus SE, General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems plc, Leonardo S.p.A., Textron Aviation Inc., Kawasaki Heavy Industries Aerospace Company, Commercial Aircraft Corporation of China Ltd. (COMAC), Gulfstream Aerospace Corporation, Dassault Aviation, Bombardier Inc., United Aircraft Corporation, Mitsubishi Aircraft Corporation, Embraer S.A., Saab AB, Irkut Corporation, Korea Aerospace Industries Ltd. (KAI), Sukhoi Company, Piaggio Aero Industries S.p.A., Arianespace SA, Piper Aircraft Inc., Fokker Technologies Holding B.V., Diamond Aircraft Industries GmbH, Antonov State Company, Hindustan Aeronautics Limited, Hawker Beechcraft Corporation, Pilatus Aircraft Ltd., ATR - GIE Avions de Transport Régional

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Largest And Fastest Growing Region In The Market
North America was the largest region in the aircraft manufacturing market in 2023. Asia-pacific is expected to be the fastest-growing region in the global aircraft manufacturing market report during the forecast period. The regions covered in the aircraft manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Aircraft Manufacturing Market Report Structure
3. Aircraft Manufacturing Market Trends And Strategies
4. Aircraft Manufacturing Market - Macro Economic Scenario
5. Aircraft Manufacturing Market Size And Growth
…..
27. Aircraft Manufacturing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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