Rising Air Passenger Traffic Fuels Growth In The Aircraft Manufacturing Market: Key Factor Driving The Growth In The Aircraft Manufacturing Market

The Aircraft Manufacturing Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Aircraft Manufacturing Market Size During the Forecast Period?
In recent years, the size of the aircraft manufacturing market has seen robust growth. It is projected to increase from $451.77 billion in 2024 to $478.65 billion in 2025, experiencing a compound annual growth rate (CAGR) of 5.9%. Factors contributing to this growth during the historic period include the expansion of commercial air travel, the globalization of air transport, replacement cycles, the emergence of low-cost carriers, and environmental regulations.

Expectations indicate a robust expansion in the aircraft manufacturing market over the upcoming years, with projections suggesting a growth to $607.65 billion in 2029, reflecting a compound annual growth rate (CAGR) of 6.1%. Factors contributing to this growth during the forecast period include the rising demand for sustainable aviation options, accelerated growth in emerging markets, urban air mobility (am), strategic partnerships and international collaboration, all with an emphasis on enhancing passenger experience. The forecast period will also witness major trends such as digitalization and the integration of Industry 4.0, as well as technological breakthroughs in electric and hybrid aircraft. Along with these, the advent of advanced avionics and connectivity, and an increased demand for fuel efficiency will promote the market for electric and hybrid aircraft.

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What Are the High-Growth Segments in the Aircraft Manufacturing Market?
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

Subsegments:
1) By Gliders: Sailplanes, Motor Gliders, Thermal Gliders
2) By Helicopters: Light Helicopters, Medium Helicopters, Heavy Lift Helicopters, Military Helicopters
3) By Ultra-Light: Fixed-Wing Ultra-Light Aircraft, Powered Paragliders, Trikes and Powered Hang Gliders
4) By Passenger Aircraft: Regional Jets, Narrow-Body Aircraft, Wide-Body Aircraft, Business Jets
5) By Unmanned Aerial Vehicles and Drones: Fixed-Wing Drones, Multi-Rotor Drones, Hybrid Drones, Military UAVs
6) By Blimps (Airship): Rigid Airships, Semi-Rigid Airships, Non-Rigid Airships (Blimps), Advertising and Surveillance Airships

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What Key Drivers Are Expected to Influence Future Aircraft Manufacturing Market Growth?
The surge in air passenger traffic is set to boost the expansion of the aircraft manufacturing industry in the future. Air passenger traffic, calculated as the total count of passengers transported by airlines or airports over a certain duration, serves as a vital indicator for air travel demand. It is influenced by economic circumstances, consumer choices, travel restrictions, and airline competitiveness. The growing demand for air trips and escalating passenger traffic offer opportunities for the aircraft manufacturing sector to expand as airlines need additional aircraft to boost their fleets and introduce new routes and services, triggering a rise in new aircraft orders. For example, as reported by the International Air Transport Association, a Canada-based trade association, traffic surged by 41.6% in 2023 compared to 2022. By December 2023, international traffic had inflated by 24.2% compared to December 2022. Hence, mounting air passenger traffic will propel the future growth of the aircraft manufacturing industry.

Which Companies Hold the Largest Share Across Different Aircraft Manufacturing Market Segments?
Major companies operating in the aircraft manufacturing market include 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, Arianespace SA, Piper Aircraft Inc., Diamond Aircraft Industries GmbH, Antonov State Company, Hindustan Aeronautics Limited, Pilatus Aircraft Ltd., ATR - GIE Avions de Transport Régional

What Trends Are Driving Growth in The Aircraft Manufacturing Market?
Leading businesses in the aircraft manufacturing market are striving for superiority by producing innovative solutions such as electric aircraft manufacturing units. These are air vehicles that operate on electric propulsion systems, which depend on electric engines for propulsive force. For example, Beta Technologies, an American aerospace organization, inaugurated an advanced electric aircraft manufacturing plant at Patrick Leahy Burlington International Airport in October 2023. The facility spans 188,500 square feet, operating on net-zero principles with sustainable tech incorporation, and is set to produce BETA's comprehensive electric aircraft range including the ALIA CTOL and ALIA VTOL, aimed at both military and commercial market sectors. The facility's eco-friendly attributes encompass geothermal wells, solar panels fitted on the roof, and an emphasis on efficiency framed around human-oriented design. BETA's well-rounded manufacturing methodology includes both vertical integration and teaming with leading aerospace providers, aiming to build up to 300 aircraft every year.

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What Are the Emerging Geographies for The Aircraft Manufacturing Market Growth?
North America was the largest region in the aircraft manufacturing market in 2024. 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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Aircraft Manufacturing Market?
2. What is the CAGR expected in the Aircraft Manufacturing Market?
3. What Are the Key Innovations Transforming the Aircraft Manufacturing Industry?
4. Which Region Is Leading the Aircraft Manufacturing Market?

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