Domestic Aviation Industry Growth Outlook: 3.6% CAGR and $1150.9 Billion by 2029

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What Is the Long-Term Growth Forecast for the Domestic Aviation Market Size 2025?
The size of the domestic aviation market has seen consistent growth over the recent years. The prediction is that it will expand from $973.87 billion in 2024 to $999.48 billion in 2025, with a compound annual growth rate (CAGR) of 2.6%. Factors contributing to the growth witnessed in the historical period include economic expansion, deregulation of airlines, urban development and population increase, infrastructure advancement, and the promotion of tourism.

What CAGR is Forecasted for the Domestic Aviation Market Through 2029?
Expectations are that the domestic aviation market will experience consistent expansion in the coming years, with a forecasted increment to $1150.9 billion in 2029, reflecting a compound annual growth rate (CAGR) of 3.6%. The prospective growth can be accredited to the economic rejuvenation following the pandemic, initiatives for sustainable aviation, resurgence in business travel, digital revolution, and changes in consumer attitudes. Significant trends expected during the forecast period encompass changing customer expectations, governmental backing and policies, airfare contest and pricing, personalized passenger services, and an increase in short-haul flights.

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What Are the Critical Factors Driving Domestic Aviation Market Development?
Moving forward, the escalating tourism industry is projected to bolster the expansion of the domestic aviation market. The tourism sector, often associated with individuals venturing to various locations both at home and abroad for recreational, social, or business pursuits, is showing signs of recovery post-COVID-19 limitations. With travel restrictions lifted, the propensity of tourists to fly from one location to another has seen a significant surge. For instance, a report by the World Tourism Organization - a Spain-based United Nations agency committed to promoting responsible, sustainable, and universally accessible tourism - revealed that international travel spiked by 182% year over year in Q1 2022. Around 117 million tourists arrived in foreign countries, a considerable increase from forty-one million in Q1 2021. Hence, the burgeoning tourism industry is serving as a catalyst for the domestic aviation market's growth.

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How Does the Domestic Aviation Market Break Down Across Major Segments?
The domestic aviation market covered in this report is segmented -

1) By Type: Commercial Aircrafts, Other Types
2) By Engine Type: Turbofan, Turboprop, Turboshaft
3) By End-User: Government, Commercial, Private

Subsegments:
1) By Commercial Aircrafts: Regional Jets, Narrow-Body Aircraft, Wide-Body Aircraft, Turboprop Aircraft
2) By Other Types: Private Jets, Helicopters, Cargo Aircraft, Air Ambulance Services

What Are the Major Trends Transforming the Domestic Aviation Industry?
The domestic aviation market is increasingly influenced by technological advancements, a trend that major companies in the sector are keen to harness in order to bolster their market positions. Garmin Limited, a US-based firm known for its innovative GPS-enabled technology, demonstrated this in February 2022 with its expanded engine monitoring capability tailored for selected Pilatus PC-12/47 and PC-12/45 aircraft through the TXi Engine Indication System display. Besides this, Garmin also obtained a Supplemental Type Certification (STC) from the Federal Aviation Administration (FAA) for their GFC 600 autopilot in Pilatus PC-12/47 aircraft. The innovative system provides several features and functionalities including autopilot-coupled VNAV descents, fully coupled missed approaches and Smart Glide safety technology. This technology can automatically engage the autopilot and guide the aircraft to its optimal glide speed while within range of a chosen airport, thus enabling the pilot to perform an approach and landing in case of engine failure.

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Which Players Are Driving Innovation in the Domestic Aviation Market?
Major companies operating in the domestic aviation market are Singapore Airlines Ltd., Air New Zealand Limited, Queensland and Northern Territory Aerial Services Ltd. (Qantas), Qatar Airways, Virgin Australia International Airlines Pty. Ltd., All Nippon Airways, American Airlines, SpiceJet Ltd., The Boeing Company, Airbus SE, Textron Inc., Embraer S.A., United Airlines Holdings Inc., Delta Air Lines Inc., Southwest Airlines Co., Air India Limited, LATAM Airlines Brasil, Gol Linhas Aéreas Inteligentes S.A, Air China Limited, Hainan Airlines Holding Co. Ltd., Spring Airlines Co. Ltd., Juneyao Air, Shenzhen Airlines Co. Ltd., Xiamen Airlines Co. Ltd., Lucky Air Co. Ltd., Tianjin Airlines Company Limited, Beijing Capital Airlines Co. Ltd.

Which Regions Are Driving Global Domestic Aviation Market Expansion?
North America was the largest region in the domestic aviation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the domestic aviation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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