Global Commercial Aircraft Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
15 Jul, 2021
The commercial aircraft market consists of sales of commercial aircraft including helicopters, gliders and drones, aircraft parts by entities (organizations, sole traders and partnerships) that produce civilian and commercial aircraft including helicopters, gliders and drones, aircraft parts such as aircraft turbines, aircraft engines and rocket engines for commercial purposes. The market includes MRO (Maintenance Repair and Overhaul) services provided by manufacturers during the aircraft’s warranty period.
Global Commercial Aircraft Market Size And Drivers:
The global commercial aircraft market is expected to grow from $207.84 billion in 2020 to $231.68 billion in 2021 at a compound annual growth rate (CAGR) of 11.5%. 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 $310.41 billion in 2025 at a CAGR of 8%. Legal authority allowing the use of drones for commercial use is being extended more widely increasing a potential revenue channel for aircraft manufacturers.
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Trends In The Global Commercial Aircraft Market
Aircraft manufacturers are using machine-learning techniques such as artificial intelligence (AI) to improve aircraft safety and quality, and to improve manufacturing productivity. Machine learning algorithms collect data from machine-to-machine and machine-to-human interfaces and use data analytics to drive effective decision making. These technologies optimize manufacturing operations and lower costs. For example, GE Aviation uses machine learning and data analytics to identify faults in engines, which increases components' lives and reduces maintenance costs. Boeing has successfully built machine-learning algorithms to design aircraft and automate factory operations.
Global Commercial Aircraft Market Segments:
The global commercial aircraft market is further segmented based on type, engine type, size, end user, operation and geography.
By Type: Passenger Aircrafts, Commercial Helicopters, Commercial Gliders and Drones, Aircraft Turbines, Aircraft Engines, Rocket Engines
By Engine Type: Turbofan, Turboprop, Turboshaft
By Size: Wide-Body, Narrow-Body, Regional, Others
By End-User: Government, Private Sector
By Operation: Autonomous Aircraft, Manual
By Geography: The global commercial aircraft market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global commercial aircraft market, accounting for 61% of the market in 2020.
Read More On The Report For The Global Commercial Aircraft Market At:https://www.thebusinessresearchcompany.com/report/commercial-aircraft-global-market-report-2020-30-covid-19-impact-and-recovery
Commercial Aircraft Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides commercial aircraft market overviews, analyzes and forecasts market size and growth for the global commercial aircraft market, commercial aircraft market share, commercial aircraft market players, commercial aircraft market segments and geographies, commercial aircraft market’s leading competitors’ revenues, profiles and market shares. The commercial aircraft market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.