Commercial Aircraft Market to be Dominated by narrow-body aircraft through 2030
Rising focus on the global
connectivity, advancement in aviation technology and increasing demand for passenger
and new generation aircraft is driving the Commercial Aircraft market.
According to the TechSci
Research report, "Commercial Aircraft Market-Global Industry Size,
Share, Trends, Competition, Opportunity and Forecast, 2018-2030F", the
market is anticipated to escalate with the rapid CAGR in the upcoming years. Commercial aeroplanes are
transporters of both passengers and freight. General aviation and scheduled
airline services are both possible on commercial aircraft. Consumer
electronics, the government, and the food industry are just a few of the many sectors
that can move freight, passengers, and business travellers using commercial
planes. Commercial aircraft play a significant role in the global aviation
system, in addition to contributing to long-term advances in the economy,
society, and environment.
The global market for
commercial aircraft is expanding because of numerous causes. The increase in
air traffic over the past few years has been one of the main factors fueling
market expansion. Developing nations make significant contributions in these
areas, which helps the global market grow. Launching new air routes has played
a significant role in the growth of the worldwide market by enhancing
connectivity around the world. It is making the airline firms to increase the
number of their aircraft. As a result, the demand for the acquisition of the
newest commercial aircraft is increasing. Additionally, the population of the
middle class has grown significantly in recent years. This is expected to fuel
the growth of the global market along with the increasing trend and rising
popularity of international travel.
A330-900 wide-body aircraft will be
delivered to Taiwanese airline STARLUX Airlines in February 2022, according to
an announcement from Airbus. The aircraft is the first of 26 wide-body aircraft
the company will purchase. Eight A330neo and eighteen A350 aircraft also have
been ordered by the airline.
A commercial aircraft lessor
named Azorra placed a second order for 20 E-Jet E2s with Embraer in January
2022, according to an announcement made by Embraer.
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The
global commercial aircraft market can be segmented based on aircraft type, engine
type, application type, by end user and by region. In the aircraft type segment,
the narrow-body aircraft category had the biggest market share. Owing to its benefits
such as cheap operating costs and fuel economy on short-haul routes, newer
generation narrow-body aircraft have seen a huge increase in demand in recent
years. Additionally, as domestic passenger demand is expected to rebound more
quickly than global passenger demand, there is likely to be a continued high
demand for narrow-body aircraft. On the basis of engine type, the market is
segmented in two parts: TurboFan and second is Turboprop. Aerial vehicles can
quickly reach high speeds thanks to their big fans, which are built to rotate
at a fast pace. This is one of the turbofan engine's main driver of its
widespread use. On the basis of application, the market is further bifurcated into
passenger and freight aircraft. Among this, passenger aircraft is expected to have
the largest share owing to global connectivity and less travel time from one
place to another.
Some of the major players operating in the
Global Commercial Aircraft Market include:
- Boeing
- Airbus Group, Inc.
- Embraer S.A.
- Bombardier Inc.
- Commercial Aircraft
Corporation of China, Ltd.
- United Aircraft
Corporation
- Mitsubishi Aircraft
Corporation
- Dassault Aviation
- Beechcraft
Corporation
- Pilatus Aircraft Ltd.
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“OEMs of aircraft are making significant investments
in the R&D of cutting-edge technologies. The aircraft manufacturing sector
is also moving toward electric design of aircraft. The e-commerce sector's expanding usage
of cargo aircraft is also expected to fuel the industry's expansion. Thus,
it will increase the demand of commercial aircraft and will raise the
competition among competitors”, -.
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Global Commercial Aircraft Market, By Aircraft Type (Narrow-Body Aircraft, Wide-body
Aircraft, Regional Aircraft), By Engine Type (Turbofan, Turboprop), By
Application (Passenger Aircraft, Freighter Aircraft), By End Use (Government, Private),
By region, Competition Forecast & Opportunities, 2018- 2030F, has evaluated
the future growth potential of Global Commercial Aircraft Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Global Commercial Aircraft Market.
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