Aircraft Manufacturing Market to Record 5.8% CAGR Growth Through 2029 | Global Analysis Report

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Aircraft Manufacturing Market Outlook: How is the Market Expected to Grow by 2025?
The market size for aircraft manufacturing has seen robust growth in the past few years. The market, which is forecasted to increase from $451.77 billion in 2024 to $475.69 billion in 2025, is projected to have a compound annual growth rate (CAGR) of 5.3%. Factors such as the expansion of commercial air travel, the globalization of air transport, replacement cycles, the emergence of low-cost carriers, and environmental regulations have contributed to the historical growth.

Aircraft Manufacturing Market Forecast: What Size Will It Reach By 2029?
The market size of aircraft manufacturing is anticipated to witness a robust growth in the coming years, expanding to $596.47 billion in 2029 with a compounded annual growth rate of 5.8%. This escalation during the forecast period can be credited to an increasing demand for eco-friendly aviation, a swift expansion in emerging markets, urban air mobility (am), strategic partnerships, and global cooperation, with a primary focus on enhancing passenger experience. Noteworthy trends expected during this forecast period involve digitalization paired with Industry 4.0, revolutionary innovation in electric and hybrid aircraft technology, technological progression, a surging demand for fuel-efficient aircraft, the expanding market for electric and hybrid aircraft along with the implementation of superior avionics and connectivity.

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Which Key Market Drivers Will Shape Aircraft Manufacturing Industry Trends in 2025-2029?
The growth of the aircraft manufacturing market is predicted to be driven by the rise in air passenger traffic. The number of passengers serviced by airlines or airports over a specified time period is used to determine air passenger traffic. This critical gauge of air travel demand is determined by factors such as economic climates, consumer inclinations, travel restrictions, and competition amongst airlines. The escalating demand for air travel paired with surging passenger traffic presents opportunities for the aircraft manufacturing sector to flourish. This is because airlines necessitate additional aircraft to enlarge their fleets and to provide new routes and services, which drives the need for new aircraft orders. For instance, the International Air Transport Association, a Canada-based trade association, reported in January 2024, that there was a 41.6% increase in traffic compared to 2022 and by December 2023, international traffic had surged by 24.2% compared to December 2022. Hence, it can be inferred that the aircraft manufacturing market will be propelled by growing air passenger traffic in the future.

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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

Which Global Trends Are Driving Aircraft Manufacturing Market Expansion?
Dominant businesses in the airplane production sector are concentrating their efforts on innovating new solutions like electric aircraft assembly plants for a competitive advantage. Electrically propelled motors power these electric aircraft, which are airborne vehicles. As an example, the American aerospace firm Beta Technologies unveiled a cutting-edge electric aircraft manufacturing center at the Patrick Leahy Burlington International Airport in October 2023. This 188,500-square-foot facility, designed to be net-zero and incorporate sustainable technology, will produce all-electric aircraft for BETA, namely the ALIA CTOL and ALIA VTOL, for both the military and commercial sectors. The facilities are packed with sustainable features like geothermal wells and rooftop solar panels, with an emphasis on efficiency and a people-oriented design. BETA's even-handed manufacturing strategy blends both vertical integration and cooperation with leading aerospace suppliers, aiming to build up to 300 aircraft every year.

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Who Are the Fastest-Growing Companies in the Aircraft Manufacturing Industry?
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 Is the Regional Outlook for the Aircraft Manufacturing Market by 2029?
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.

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