Air Transport Global Market Sees Growth Rate Of 16% Through 2026
21 Jun, 2022
The global air transport market size is expected to grow from $653.05 billion in 2021 to $728.61 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The air transport services market is then expected to grow to $1,332.45 billion in 2026 at a CAGR of 16.3%.
What is the Global Air Transport Market?
The air transport services market consists of sales of air transportation services and related goods by entities (organizations, sole traders, and partnerships) that use aircraft, such as airplanes and helicopters, to provide air transportation of passengers and/or cargo. The market includes services offered by both scheduled and nonscheduled air carriers. Revenues from the sales of auxiliary in-flight services such as meals, snacks, beverages, and duty-free shopping, provided by companies are also included in this market. Scenic and sightseeing air transportation and air courier services are not included in the air transport services market.
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What drives the Global Air Transport Market?
The use of analytics is rapidly growing in the aviation industry to capture critical insights from customers and operations data. It allows airlines to offer personalized services to their customers by using data analytics tools at every customer touchpoint. The growing use of analytics in the aviation industry is mainly a result of increasing competition between airlines. As a result, commercial airlines are looking to enhance customer satisfaction levels by analyzing parameters such as ticket sales passenger profile and purchase history. For instance, Chicago-based United Airlines analyzes 150 variables in a customer profile to offer a more personalized offer. Major companies using analytics in the aviation industry are Southwest Airlines, Delta Airlines, and United Airlines.
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Global Air Transport Market Segments
The global air transport market is segmented:
By Type: Passenger Air Transport, Chartered Air Transport, Air Cargo Services
By Distance: Long-Distance, Short-Distance
By End-Use: Private, Commercial
By Geography: The regions covered in the air transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Air Transport Global Market Report 2022provides market size and growth forecasts for the global air transport market, global air transport market share, air transport market segments and geographies, air transport market competitive landscape including leading competitors’ revenues, profiles and market shares. The air transport market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Air Transport Industry Playersinclude The Emirates Group, China Airlines, American Airlines Group Inc., Delta Air Lines Inc., United Airlines Inc., China Southern Airlines, Qatar Airways Company Q.C.S.C, Air France–KLM, and Lufthansa Group. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.