Press release
Commercial Aircraft Market CAGR to be at 5.3% from 2024 to 2033 | $260 billion Industry Revenue by 2033
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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 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 industry, due to high demand for commercial aircraft for air travel by passengers.
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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.
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.
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Leading 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
Know More- https://www.einpresswire.com/article/770305026/commercial-aircraft-market-projected-expansion-to-192-76-billion-market-value-by-2030-a-4-23-cagr-from-2021-to-2030
Read More Reports :
Commercial Avionics Systems Market :
https://www.globenewswire.com/en/news-release/2022/06/20/2465136/0/en/Commercial-Avionics-Systems-Market-to-Garner-54-4-Billion-by-2030-Says-Allied-Market-Research.html
Zero-Emission Aircraft Market :
https://www.prnewswire.com/news-releases/zero-emission-aircraft-market-to-reach-191-97-bn-globally-by-2040-at-20-7-cagr-allied-market-research-301331380.html
Aircraft Window Frame Market :
https://www.globenewswire.com/en/news-release/2022/10/11/2531418/0/en/Aircraft-Window-Frame-Market-to-Garner-250-5-Million-by-2031-Allied-Market-Research.html
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