Global Air Transport Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
16 Jun, 2021
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.
Global Air Transport Market Size And Drivers:
The global air transport market is expected to grow from $571.2 billion in 2020 to $648.7 billion in 2021 at a compound annual growth rate (CAGR) of 13%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $832.9 billion in 2025 at a CAGR of 6%. Growing use of analytics in the aviation industry is the main driver of the market.
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Trends In 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 its customers by using data analytics tools at every customer touch point. 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 and passenger profile and purchase history. For instance, Chicago-based United Airlines analyzes 150 variables in a customer profile to offer a more personalized offer.
Global Air Transport Market Segments:
The global air transport market is further segmented based on type, distance and geography.
By Type: Passenger Air Transport, Chartered Air Transport, Air Cargo Services
By Distance: Long-Distance, Short-Distance
Sub segments Covered: Domestic Air Passengers, International Air Passengers, Passenger Chartered Air Transport, Freight Chartered Air Transport, Others - Chartered Air Transportation, Air Mail, Air Freight
By Geography: The global air transport market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global air transport market, accounting for 32% of the market in 2020.
Read More On The Report For The Global Air Transport Market At:https://www.thebusinessresearchcompany.com/report/air-transport-global-market-report-2020-30-covid-19-impact-and-recovery
Air Transport Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides air transport market overviews, analyzes and forecasts market size and growth for the global air transport market, air transport market share, air transport market players, air transport market segments and geographies, air transport market’s 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.