Press release
Market Trend Insights: The Impact of Recent Innovations on the Commercial Aircraft Market
Commercial Aircraft
Forecasted Market Value of the Commercial Aircraft Industry by 2030
The commercial aircraft market is projected to reach a valuation of $274.06 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.9%. This steady rise is largely driven by the increased production of next-generation, fuel-efficient planes and a surge in demand for regional and narrow-body jets, which are favored due to optimized air routes. Investments in sustainable aviation technologies, such as hybrid and electric aircraft concepts, are also propelling growth. Furthermore, the expansion of low-cost carriers is boosting order volumes, while advancements in digital maintenance solutions are improving manufacturer-supported MRO (maintenance, repair, and overhaul) services. Key trends shaping the market include the adoption of advanced MRO technologies, predictive maintenance, a rise in regional travel, the use of lightweight composite materials, growth in cargo aircraft services, and widespread acceptance of fuel-efficient airplanes.
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Important Industry Players Leading the Commercial Aircraft Market
The commercial aircraft industry is dominated by several prominent companies, including Boeing, Airbus, Embraer, Bombardier, Textron Aviation, United Aircraft Corporation, Dassault Aviation, Leonardo S.p.A., Mitsubishi Heavy Industries, COMAC (Commercial Aircraft Corporation of China), Gulfstream Aerospace, Pilatus Aircraft, Cessna Aircraft Company, Sukhoi Civil Aircraft, ATR (Aerei da Trasporto Regionale), Antonov Company, AVIC (Aviation Industry Corporation of China), Kawasaki Heavy Industries, Hindustan Aeronautics Limited (HAL), Saab AB, De Havilland Aircraft of Canada, Viking Air, Embraer Commercial Aviation, Irkut Corporation, Boeing Defense Space & Security, Fokker Technologies, Israel Aerospace Industries, and Korea Aerospace Industries.
Recent Strategic Moves in the Sector
In February 2024, Canadian aerospace firm De Havilland Canada acquired the US-based Field Aviation Company Inc. for an undisclosed sum. This acquisition is intended to bolster De Havilland Canada's manufacturing capabilities and strengthen its engineering and avionics design expertise. The deal is strategically aimed at enhancing the in-house supply chain and ensuring timely delivery of parts to meet the rising demands of global customers. Field Aviation Company specializes in modifying and missionizing commercial aircraft, making it a valuable addition to De Havilland's operations.
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Emerging Trends Reshaping the Commercial Aircraft Market
Industry leaders are increasingly focusing on developing home-built aircraft to reduce foreign reliance and gain a competitive advantage. Home-built aircraft are domestically manufactured and can be constructed from scratch, based on plans, or assembled from kits, reflecting a push toward greater self-sufficiency. For example, in May 2023, China's Commercial Aviation Corp. of China (COMAC) introduced the COMAC C919, a narrow-body airliner. Though similar in size and range to the Airbus A320 and Boeing 737, the C919 has secured just over 1,000 orders from various operators and companies. This aircraft represents the largest commercial airplane ever produced in China and marks a significant milestone as COMAC aims to challenge the longstanding Airbus-Boeing dominance.
How the Commercial Aircraft Market Is Organized by Segments
The commercial aircraft market is classified into several key segments to capture its diverse offerings:
1) By Type: Passenger Aircraft, Commercial Helicopters, Commercial Gliders and Drones, Aircraft Turbines, Aircraft Engines
2) By Engine Type: Turbofan, Turboprop, Turboshaft
3) By Size: Wide-Body, Narrow-Body, Regional, Others
4) By End-User: Government, Private Sector
5) By Operation: Autonomous Aircraft, Manual
Further detailed subsegments include:
- Passenger Aircraft: Narrow-Body, Wide-Body, Regional
- Commercial Helicopters: Single-Engine, Multi-Engine, Utility
- Commercial Gliders and Drones: Unmanned Aerial Vehicles (UAVs), Commercial Gliders
- Aircraft Turbines: Turbojet, Turbofan, Turboprop Engines
- Aircraft Engines: Jet, Reciprocating, Electric Aircraft Engines
This detailed segmentation helps stakeholders understand the breadth of the market and identify specific areas of interest for investment or development.
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