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Commercial Aircraft Market Segmented By Narrow body aircrafts, Wide body aircrafts, Regional jets, Turboprop aircrafts in North America, Latin America, Europe, Japan, APEJ, MEA
Commercial aircraft are those aircraft that ferry millions of passengers from one corner of the globe to the other in a matter of hours or those that transport huge volumes of cargo. Commercial aviation boomed after the Second World War with the beginnings largely attributed to ex-military aircraft being crudely modified to transport cargo or passengers. Modern day commercial aircraft have come a long way since and thus Persistence Market Research felt the need to research the commercial aircraft market in its upcoming report. The commercial aircraft market is expected to surge past a value of US$ 330 billion by the end of the forecast period.
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Narrow body aircraft had a revenue share approaching half of the commercial aircraft market in 2017 and are unlikely to cede this commanding position anytime soon. A greater growth trend in the aviation industry seems to be ferrying fewer passengers from tier 2 and tier 3 cities as opposed to carrying larger numbers from centrally located metropolitan hubs. Narrow body aircraft are predicted to be the biggest beneficiary of this and the North America narrow body aircraft market is poised to be worth approx. US$ 45 billion by the end of 2022.
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Get a Customized VersionWide body aircraft are no longer as popular as they once were in the commercial aircraft market and are rapidly losing their appeal on account of numerous factors detailed in the report. Wide body aircraft are predicted to record a sluggish CAGR of less than 3.5% during the period from 2017 to 2022, necessitating appropriate strategies to be successful in this segment of the commercial aircraft market.
Key stakeholders in the commercial aircraft market would be advised to focus their attention on the highly populous and fast-growing APEJ region as the continent can safely be considered the saving grace of the wide-body aircraft segment.
Regional jets have a revenue share slightly lower than that of wide-body aircraft in the commercial aircraft market. Nonetheless, companies should not ignore this segment entirely as an absolute dollar opportunity of just under US$ 10 billion is waiting to be tapped in this segment of the commercial aircraft market. Along with North America, regional jets have strong appeal in Europe and companies are recommended to take this into account while devising their long-term strategies.
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The two regions that undoubtedly hold the greatest potential in the commercial aircraft market are North America and APEJ. While the former has a well-developed road infrastructure, it has minimal rail connectivity and a vast landscape, compelling travelers to fly if they need to travel from coast to coast.
The companies profiled by Persistence Market Research in the commercial aircraft market report are The Boeing Co., Airbus SE, Embraer SA, Bombardier, Textron, Dassault Aviation, General Dynamics Corporation, Piaggio Aero Industries, Pilatus Aircraft Ltd., and Avions de transport regional.
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