Commercial Aircraft Market Size, Share, and Growth Trends : Rising Demand in Global Air Travel and Fleet Expansion Forecast, 2020-2030

Allied Market Research recently published a report, titled, "Commercial Aircraft Market by Size (Narrow Body, Wide Body, Regional & Business Jet, and Freighter), by Application (Passenger, Cargo): Global Opportunity Analysis and Industry Forecast, 2020-2030." As per the report, The global commercial aircraft market size was valued at $128.21 billion in 2020, and is projected to reach $192.76 billion by 2030, growing at a CAGR of 4.23% from 2021 to 2030.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/1706

Drivers, restraints, and opportunities

Surge in demand for fuel-efficient aircraft, use of lightweight carbon composites for manufacturing aircraft, and rise in number of airline passenger have boosted the growth of the global commercial aircraft market. However, surge in terrorism, congestion and delay in air traffic, and dearth of security hinder the market growth. On the contrary, rapid adoption of innovative technologies and increased demand for air travel across the globe would unlock lucrative opportunities in the future.

The narrow body segment dominated the market

By size, the narrow body segment held the lion's share in 2020, accounting for nearly two-thirds of the global commercial aircraft market, due to high demand and purchase of narrow body commercial aircraft by hundreds of airlines across the globe. However, the freighter segment is projected to portray the highest CAGR of 5.8% during the forecast period, due to rise in import-export of items via airways.

The cargo segment to register the highest CAGR through 2030

By application, the cargo segment is anticipated to register the highest CAGR of 5.5% from 2021 to 2030, due to rise in adoption of commercial aircraft for transporting tons of e-commerce items. However, the passenger segment held the lion's share in 2020, contributing to nearly 90% of the global commercial aircraft market, due to high demand for commercial aircraft for air travel by passengers.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/commercial-aircraft-market/purchase-options

Asia-Pacific, followed by North America, held the lion's share

By region, the global commercial aircraft market across Asia-Pacific held the largest share in 2020, accounting for nearly one-third of the market. In addition, the region is anticipated to register the highest CAGR of 5.2% during the forecast period, due to rise in air passenger traffic across Asian nations. The market across North America is expected to register a CAGR of 3.2% during the forecast period.

Covid-19 scenario :

The Covid-19 pandemic severely affected the aviation industry due to sudden and strict ban on international flights and ban on import-export of non-essential items.

The sudden fall in air travel and nationwide lockdown forced manufacturers to shut down their operations partially or completely.

However, as the world slowly recovers from the pandemic and demand for air travel increases, the market would soon get back on track.

Key market players

Lockheed Martin Corporation
Textron Inc.
Raytheon Technologies Corporation
Airbus Group
The Boeing Company
Dassault Aviation
Commercial Aircraft Corporation of China, Ltd
General Dynamics Corporation
Embraer S.A.
General Electric

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/1706

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

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