Global Commercial Aircraft Market size is projected to be valued $346 Billion by 2024; with a CAGR of 4.3% from 2017 to 2025. Changing living standard of individuals and rising disposable income are projected to fuel the market for commercial aircraft in the near future. In addition, the market is expected to show high boom in the coming years driven by some major factors such as, the critical status of intellectual property safety & security in sectors such as avionics and aircraft engine.
Increasing number of air travelers, improving commercial aviation network, growing tourism and improving economic conditions, and surge in demand for environmental friendly and fuel-efficient aircraft are some of the major factors driving the market growth. On the other hand, factors such as lack of security and delay in timings are the major factors hindering the market growth. Developing economies are expected to provide continuous opportunities for the commercial aircrafts market.
The global commercial aircraft market has been segmented into jet engine, components, aircraft type, and geography. On the basis of jet engine, the market has been segmented as turbofan and turboprop. On the basis of component, market has been divided into engine, airframes, systems, avionics, interior and landing gear. Similarly, on the basis of aircraft type, the market has been segmented as large widebody, medium widebody, small widebody, narrow body, regional jets, and business jets.
Based on geography, global commercial aircraft market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key players operating in the market are GE Aviation, American Champion Aircraft Corporation, MD Helicopters Inc., Airbus S.A.S., BAE Systems, Defense and Space Co., The Boeing Company, Kawasaki Heavy Industries, CFM International, Inc., and Pratt & Whitney International Aero Engines, among others.
The report covers
Scope of the Global Commercial Aircraft Market
Jet Engine Segments
Aircraft Type Segments