What Has Been the Growth of the Passenger Aircrafts Market So Far?
The passenger aircrafts market has seen considerable growth due to a variety of factors.
• The value of the passenger aircrafts industry has significantly expanded over recent times. A surge from $94.83 billion in 2024 to $100.12 billion in 2025 is foreseen, with a compound annual growth rate (CAGR) of 5.6%.
The growth observed in the historic era attributes to factors such as global economic development, the elevation in the middle-class population, expansion of the tourism sector, liberalization of air transportation, and efficiency enhancements.
What Will Be The Passenger Aircrafts Market Size In The Future?
The passenger aircrafts market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a steady expansion of the passenger aircrafts market in the coming years, with projections suggesting it will rise to $119.73 billion in 2029, registering an annual compounded growth of 4.6%.
Several factors are responsible for this anticipated growth during the forecast period, including urbanization and improved connectivity, increased demand from emerging markets, sustainability concerns, post-pandemic recovery of air travel, and technological innovations. The forecast period is also set to witness key trends such as the advent of electric and hybrid airplanes, enhanced onboard connectivity, an emphasis on health and sanitation measures, adaptive fleet strategies, and initiatives related to urban air mobility (UAM).
Which Factors Are Boosting Growth In The Passenger Aircrafts Market?
The predicted rise in worldwide tourism is likely to stimulate the expansion of the passenger airplane sector during the forecast timeframe. As one of the most substantial movements of goods, services, and individuals, global tourism plays a significant role in boosting economic growth and advancing socio-political changes. For example, the United Nations World Tourism Organization (UNWTO) reported that international tourist arrivals and global tourism in 2023 fared better than anticipated in 2022, due to strong pent-up demand and the easing or removal of travel limitations in many nations. Over 900 million tourists chose to travel internationally in 2022, a figure that doubled from 2021 and underscored how the growth of global tourism propels the expansion of the passenger aircraft market.
What are the Market Segments in the Passenger Aircrafts Market?
The passenger aircrafts market covered in this report is segmented –
1) By Type: Single-Aisle Aircraft, Twin-Aisle Aircraft, Regional Jets, Business Jets
2) By Aircraft Type: Fixed-Wing Aircraft, Rotorcraft
3) By Engine Type: Turbofan, Turboprop, Turboshaft
4) By Carrier Type: Full Service Carrier, Low-Cost Carrier
Subsegments:
1) By Single-Aisle Aircraft: Narrow-Body Aircraft, Short-Haul Aircraft
2) By Twin-Aisle Aircraft: Wide-Body Aircraft, Long-Haul Aircraft
3) By Regional Jets: Very Light Jets (VLJs), Regional Airliners
4) By Business Jets: Light Jets, Midsize Jets, Heavy Jets
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What Trends are Shaping the Passenger Aircrafts Market?
Leading enterprises in the passenger airplane sector are prioritizing the creation of technologically superior solutions like electric passenger aircraft to boost fuel efficiency, diminish emissions, and augment overall air travel sustainability. Electric passenger aircraft, which primarily rely on electric propulsion systems instead of traditional fossil fuels, are designed to minimize greenhouse gas emissions, decrease operational expenses, and champion eco-friendly aviation practices. For instance, in September 2024, the US-based aerospace firm Beta Technologies introduced the ALIA electric vertical takeoff and landing (eVTOL) aircraft for urban transportation. Key features encompass multiple rotors for increased safety and redundancy, a lift + cruise setup for peak performance, and a considerable noise reduction compared to regular planes, making them a perfect fit for urban air taxi services and other usage.
Who Are the Key Players in the Passenger Aircrafts Market?
Major companies operating in the passenger aircrafts market include:
• The Boeing Company
• Airbus SE
• Antonov Design Bureau
• Leonardo S.p.A.
• Textron Inc.
• Gulfstream Aerospace Corporation
• Dassault Aviation SA
• Bombardier Inc.
• Embraer SA
• Saab AB
• Cessna Aircraft Company
• Hindustan Aeronautics Limited (HAL)
• Irkut Corporation
• Piaggio Aero Industries S.p.A.
• Korea Aerospace Industries Ltd. (KAI)
• Pilatus Aircraft Ltd
• Commercial Aircraft Corporation of China Ltd. (COMAC)
• Piper Aircraft Inc.
• Quest Aircraft Company
• Sukhoi Civil Aircraft Company
• Viking Air Ltd.
• Ilyushin Aviation Complex - JSC
• Cirrus Aircraft Corporation
• De Havilland Aircraft of Canada Limited
• Diamond Aircraft Industries Inc.
• Honda Aircraft Company Ltd.
What are the Regional Insights into the Passenger Aircrafts Market?
North America was the largest region in the passenger aircrafts market in 2024. North America is expected to be the fastest-growing region in the global passenger aircrafts market share during the forecast period. The regions covered in the passenger aircrafts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
