Specialized Freight Trucking Global Market Report 2023– By Type (Automobiles And Heavy Equipment, Bulk Liquids, Dry Bulk Materials, Forest Products, Refrigerated Goods), By Application (Oil & Gas, Industrial & Manufacturing, Energy & Mining, Food & Beverages, Pharmaceuticals & Healthcare, Other Applications), By Size (Heavy Trucks, Medium Trucks, Light Trucks)– Market Size, Trends, And Global Forecast 2023-2032

A commercial vehicle is a vehicle with a license to transport goods or materials rather than people. A commercial vehicle is used for commercial or business purposes. The main types in the commercial vehicle market include light commercial vehicles, heavy trucks, buses, and coaches. Light commercial vehicles refer to vehicles that are no more than 3.5 metric tons. The various fuel types are gasoline, diesel, and other fuel types. The various propulsion types include IC engines and electric vehicles. Commercial vehicles are used in mining and construction, logistics, passenger transportation, and other applications. The global commercial vehicle market is segmented - 1) By Type: Light Commercial Vehicle, Heavy Trucks, Buses And Coaches 2) By Fuel Type: Gasoline, Diesel, Other Fuel Types 3) By Application: Mining & Construction, Logistics, Passenger Transportation, Other Applications 4) By Propulsion Type: IC Engine, Electric Vehicle The global commercial vehicle market size grew from $819.24 billion in 2022 to $908.43 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The commercial vehicle market is expected to grow to $1345.23 billion in 2027 at a CAGR of 10.3%. Advances in technology are expected to be a continued driver of market growth in the forecast period. The commercial vehicle industry has experienced many technological advances in the last decade, and this trend is expected to intensify. According to Forbes, the ten new features in 2020 include autonomous driving; driver override systems; biometric vehicle access; comprehensive vehicle tracking; active window displays; remote vehicle shutdown; active health monitoring; four-cylinder supercars; smart and personalized in-car marketing; and reconfigurable body panels. These innovations are expected to drive the commercial vehicle market during the forecast period. Major companies in the commercial vehicles market include Volkswagen AG, Daimler AG, Toyota Motor Corp, Peugeot, General Motors Co, Ford Motor Co, SAIC, Motor Co Ltd., Volvo AB, Bayerische Motoren Werke AG, and Kia Motors Corp. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the commercial vehicle market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries imposed lockdowns. The outbreak continues to hurt businesses throughout 2020 and into 2021. However, it is expected that the commercial vehicle market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Major commercial vehicle manufacturers are investing in driverless car technologies to reduce traffic congestion, prevent accidents and save fuel. Driverless commercial vehicles can sense their surrounding environment and navigate through an area without the involvement of humans using radar, GPS, and computer vision technology. With this technology becoming realistic, many companies are expected to be part of the production and design of driverless vehicles. Companies such as UPS and Amazon are testing driverless commercial vehicles to improve operational efficiencies and reduce costs. North America was the largest region in the commercial vehicles market in 2022. Asia-Pacific was the second-largest region in the commercial vehicle market. The regions covered in the commercial vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the motorcycle, bicycles, and parts market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The commercial vehicle market consists of sales of trucks, buses, trailers, taxis, heavy equipment, trailers, and travel trailers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The commercial vehicles market research report is one of a series of new reports from The Business Research Company that provides commercial vehicle market statistics, including commercial vehicle industry, global commercial vehicle market size, regional shares, competitors with a commercial vehicle market share, detailed commercial vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the commercial vehicle industry. This commercial vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Mobility aids and transportation equipment are medical devices used to transport patients or medical products from one place to another. The main types of mobility aids and transportation equipment are electrically powered wheelchairs, manual wheelchairs, walking aids, mobility scooters, stretchers, and stair lifts. A walking aid is one of the devices a patient issued to improve their walking pattern, balance, or safety while mobilizing independently. The age group involved are mobility aids for children and mobility aids for the elderly. The various end-users are hospitals, clinics, and households. The global mobility aids and transportation equipment market is segmented - 1) By Type: Electrically Powered Wheelchairs, Manual Wheelchairs, Walking Aids, Mobility Scooters, Stretchers, Stair Lifts 2) By End User: Hospital, Clinic, Household 3) By Age Group: Mobility Aids for Children, Mobility Aids for Elderly The global mobility aids and transportation equipment market size will grow from $2.94 billion in 2022 to $3.18 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the mobility aids and transportation equipment is expected to grow to $4.12 billion in 2027 at a CAGR of 6.7%. A large aging population will give an impetus to the mobility aids & transportation equipment market. Elderly populations suffer from age-related diseases resulting in impaired mobility. The risk from rheumatoid arthritis and osteoporosis is more in the geriatric population. According to WHO, the worldwide geriatric population will double by 2050 from 12% to 22%, propelling the mobility aids & transportation equipment market growth. Major players in the mobility aids and transportation equipment market are Medline Industries, Hoveround Corporation, Sunrise Medical LLC., OttoBock Healthcare GmbH, Medline Industries, GF Health Products Inc., Invacare Corporation, LEVO AG, Permobil AB, and Hill-Rom Holdings Inc. Insurance companies have attempted to control the costs of health care by shifting more of the responsibility to the individual. In In 2020, the out-of-pocket has increased maximum to $8,200 for individual plans and $16,400 for family plans. Insurance companies are attempting to discourage overuse by making subscribers more price-sensitive through high deductibles, co-pays, and co-insurance (the portion of the health care bill for which the subscriber is responsible after the deductibles have been met). Japanese automakers introduced a single-seat self-driving car to aid and assist people who find walking or using public transit difficult. This self-driving car is smartphone or tablet enabled – pick a destination on the map and the pathfinding system in the vehicle will take care of the rest. It is equipped with a navigation system which will help to get from point A to B, a gyro sensor helps the car to remain stable on uneven surfaces, 2D and 3D laser sensors will be used to judge distance from items and stereo cameras will be used to detect obstacles in its path. The car is designed to maneuver easily through city streets, pavements, and footpaths. Sensors and guidance systems will help the vehicle to navigate around bumps, potholes, and pedestrians. The Australian Road Rules (ARRs) regulate the use of 'motorized wheelchairs' on roads or road-related areas such as footpaths. A motorized wheelchair, which is not able to travel faster than 10 km/h on level ground, is recognized under the ARRs as a pedestrian. This means that users are subject to the general road rules applied to pedestrians. A motorized wheelchair that can travel faster than 10 km/h on level ground is treated as a vehicle, which means that the person using the device is treated as a driver, who is subject to all of the road rules applying to drivers of vehicles. In June 2021, a consortium of private equity firms acquired Medline for the deal of the $34 billion amount. This acquisition is to accelerate international expansion and strengthen its global supply chain. Medline is a US-based healthcare company. Asia-Pacific was the largest region in global mobility aids and transportation equipment market in 2022. North America was the second-largest region in global mobility aids and transportation equipment market share. The regions covered in the mobility aids and transportation equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the mobility aids and transportation equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The mobility aids and transportation equipment market consist of sales of electrically powered wheelchairs, manual wheelchairs, walking aids, mobility scooters, stretchers, and stair lifts. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The mobility aids and transportation equipment market research report is one of a series of new reports from The Business Research Company that provides mobility aids and transportation equipment market statistics, including mobility aids and transportation equipment industry global market size, regional shares, competitors with a mobility aids and transportation equipment market share, detailed mobility aids and transportation equipment market segments, market trends and opportunities, and any further data you may need to thrive in the mobility aids and transportation equipment industry. This mobility aids and transportation equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electric motor is defined as an electric machine that converts electrical energy into mechanical energy and supplies power to the devices. It works on the principles of electromagnetism with properties such as durability, high efficiency, low energy consumption, and low maintenance. The main types of electric motors are alternate current (AC) motor, direct current (DC) motor, and hermetic motor. A hermetic motor contains both the compressor and the motor within a single outer welded steel shell. The motor and compressor are connected directly on the same shaft, with the motor located within the refrigeration circuit. As a result, the need for a shaft seal and the resulting refrigerant leakage problem was eliminated. Welding or brazing is used to connect all refrigerant pipelines to the outer steel shell. The voltage of an electric motor ranges from 9v and below, 10-20 v, 21-60 v, 60 v, and above, and various output power are integral horsepower (IHP) and fractional horsepower (FHP). The different speeds of the electric motor are low-speed (less than 1,000 rpm), medium-speed (1,001 to 25,000 rpm), high-speed (25,001 to 75,000 rpm), ultra-high-speed (greater than 75,001 rpm) that are used for industrial machinery, motor vehicle, HVAC equipment, aerospace and transportation, household appliances, other commercial applications. The global electric motors market is segmented – 1) By Type: Alternate Current (AC) Motor, Direct Current (AC) Motor, Hermetic Motor 2) By Output Power: Integral Horsepower (IHP), Fractional Horsepower (FHP) 3) By Voltage Range: 9v & Below, 10-20 v, 21-60 v, 60 v And Above 4) By Application: Industrial Machinery, Motor Vehicle, HVAC Equipment, Aerospace & Transportation, Household Appliances, Other Commercial Applications 5) By Speed: Low-Speed (less than 1,000 rpm), Medium-Speed (1,001 to 25,000 rpm), High-Speed (25,001 to 75,000 rpm), Ultra-High Speed (greater than 75,001 rpm) The global electric motors market size will grow from $97.15 billion in 2022 to $102.68 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global electric motors market size is expected to grow to $123.54 billion in 2027 at a CAGR of 4.7%. An increase in the sale of electric vehicles is expected to propel the growth of the electric motors market. An electric vehicle (EV) is a vehicle that is entirely or partially powered by electricity. The growing popularity of electric vehicles drives the demand for electric to drive the wheels. For instance, according to the 2020 International Energy Agency (IEA) report, a France-based independent intergovernmental organization, 10 million electric vehicles were in circulation worldwide, up 43% from 2019. Additionally, it is estimated that by 2040, electric vehicle sales will account for 58% of all passenger car sales worldwide, up from an estimated 28% in 2030. Therefore, the growing demand for electric vehicles (EVs) is driving the growth of the electric motors market going forward. Major players in the electric motors market are ABB Ltd., ARC Systems, Inc., Asmo Co., Ltd., Brook Crompton UK Ltd., Emerson Electric Co., Regal Beloit Corporation, Rockwell Automation Inc., Siemens AG, Ametek, Inc., and Baldor Electric Company, Inc. Increased tariffs on raw materials such as steel and aluminum will restrain the market for motor manufacturing in the forecast period. Steel and aluminum are predominantly used in the manufacture of components for motors. Increasing import tariffs on raw materials such as steel hindered the market for household fans. For instance, in February 2020, the USA administration decided to raise tariffs on derivative steel and aluminum imports by 25% and 10%, respectively. Motor manufacturing companies are increasingly manufacturing IoT-enabled smart motors. These motors are equipped with sensors that monitor and track the motor’s health and performance. Sensors are connected to a control database that continuously collects data, and uses artificial intelligence (AI) to learn normal behavior and sends an alert upon detecting any deviation from normal behavior. Smart motors offer several benefits such as increased lifespan of equipment and improved safety. In November 2021, Renault Group, a France-based automotive company acquired Whylot for an undisclosed amount. Through this acquisition, Renault Group aims to to develop and industrialise an innovative axial-flow automotive e-motor and a breakthrough technology for electrified applications. Whylot, a France-based company specializing in innovative electric motors. Asia-Pacific was the largest region in the electric motors market in 2022. Western Europe was the second-largest region in the global electric motors market share. The regions covered in the global electric motors market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric motors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The electric motors market consists of sales of rotor, bearings, stator, air gap, windings, commutator, and other electric motors. Devices that use electric motors consist of fans, blowers, household appliances, disk drives, batteries and power tools, machine tools, domestic appliances, HVAC applications, electric cars, and automated robots. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric motors market research report is one of a series of new reports from The Business Research Company that provides electric motors market statistics, including electric motors industry global market size, regional shares, competitors with an electric motors market share, detailed electric motors market segments, market trends and opportunities, and any further data you may need to thrive in the electric motors industry. These electric motors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

A machine is an equipment with several moving parts that are mechanically, electrically, or electronically operated to perform a specific task. The main types of machinery are automatic and semi-automatic. Automatic machinery refers to machinery that works automatically without human intervention. The specificities are small, medium, and large. The various applications are automotive, precision engineering, transport, and other applications. The global machinery market is segmented - 1) By Type: Automatic, Semi-Automatic 2) By Capacity: Small, Medium, Large 3) By Application: Automotive, Precision Engineering, Transport, Other Applications Subsegments Covered: Construction Machinery, Agricultural Implement, Mining And Oil And Gas Field Machinery, Woodworking And Paper Machinery, Other Industrial Machinery, Printing Machinery And Equipment, Semiconductor Machinery, Food Product Machinery, Other Commercial And Service Industry Machinery, Photographic And Photocopying Equipment, Optical Instrument And Lens, HVAC And Commercial And Industrial Refrigeration Equipment, Commercial Fan And Air Purification Equipment, Heating Equipment (except Warm Air Furnaces), Special Die And Tool, Die Set, Jig, And Fixture, Machine Tool, Industrial Mold, Rolling Mill And Other Metalworking Machinery, Cutting Tool And Machine Tool Accessory, Commercial Internal Combustion Engines, Turbine And Turbine Generator Set Units, Mechanical Power Transmission Equipment, Speed Changer, Industrial High-Speed Drive, And Gear The global machinery market size grew from $3,542.77 billion in 2022 to $3,810.37 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global machinery market is expected to grow to $4,928.07 billion in 2027 at a CAGR of 6.6%. Rapid advances in technology are expected to drive innovation in machinery manufacturing, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used in manufacturing thus resulting in higher productivity, lower operating costs, and higher margins. For instance, according to a global survey by The Economist Intelligence Unit, about 90% of corporate executives felt that artificial intelligence (AI) will have a positive impact on a company’s growth and 86% of respondents considered that AI will help improve productivity. Lower operating costs lead to higher margins, this allows companies to increase product portfolios and enter new markets by making investments made through cost savings. IoT applications are also being integrated into these devices to enable services such as remote monitoring, and central feedback systems and to offer other services. Mobile applications, advanced sensors, and embedded software also created new opportunities for companies in this market. These factors are expected to drive the machinery manufacturing market during the forecast period. Major companies in the machinery market include Caterpillar Inc., Deere & Company, Hitachi Ltd., Mitsubishi Heavy Industries Ltd., Komatsu Ltd., Johnson Controls International plc, Gree Electric Appliances Inc., Midea Group co Ltd., Canon Inc., and Tetra Laval International S.A. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the machinery manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing activity declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Machinery manufacturers depend heavily on the supply of raw materials, parts, and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of raw materials and components. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the machinery manufacturing market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. HVAC systems are being integrated with building automation systems for the overall management of a building to maximize energy efficiency. BAS receives analog or digital inputs from the sensors installed in HVAC and the integrated system is managed by a single dashboard accessed from a computer. These integrated systems improve building performance, save energy, and shrink the environmental footprint. HVAC systems account for 60-70% of the total energy consumption of a typical commercial building, thus integrated systems enable commercial establishments to reduce power consumption. For example, advanced BAS technology integrates lighting, water, elevators, security, and HVAC systems into a single automated platform. An integrated lighting and HVAC system automatically controls the lighting and temperature to ideal levels, thus reducing energy consumption and costs. GE and Trane are offering solutions that integrate HVAC with BAS. The Asia-Pacific was the largest region in the machinery market in 2022. Western Europe was the second largest region in the machinery market. The regions covered in the this machinery market analyis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the machinery market include Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The machinery market consists of sales of industrial and commercial machinery such as farm machinery and equipment, construction machinery, oil and gas field and underground mining machinery and equipment, food and beverage manufacturing machinery, semiconductor manufacturing machinery, sawmill and woodworking machinery (except handheld), printing and binding machinery and equipment, photographic and photocopying equipment, automatic vending machinery, commercial laundry and dry-cleaning machinery, office machinery, automotive maintenance equipment (except mechanics' hand tools), commercial-type cooking equipment and machinery for making paper products, textiles, plastic products, rubber products and optical instruments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. the value of goods in this market includes related services sold by the creators of the goods. The machinery market is segmented into agriculture, construction, and mining machinery; industrial machinery; commercial and service industry machinery; ventilation, heating, air-conditioning, and commercial refrigeration equipment; metalworking machinery; engine, turbine, and power transmission equipment; and other general purpose machinery. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The machinery market research report is one of a series of new reports from The Business Research Company that provides machinery market statistics, including machinery industry global market size, regional shares, competitors with a machinery market share, detailed machinery market segments, market trends, and opportunities, and any further data you may need to thrive in the machinery industry. This machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Passenger air transport service refers to a mode of transportation for people that uses aircraft, such as planes and helicopters, to provide air transportation services for passengers, including scheduled and non-scheduled air carriers, to facilitate fast travel with improved security and to be used in emergency operations. The main types in the passenger air transport market are domestic air passengers and international air passengers. Domestic air passenger services are provided for domestic passengers by air transport. The market is segmented by class into business class and economy class and by end-use into private and commercial. The global passenger air transport market is segmented - 1) By Type: Domestic Air Passengers, International Air Passengers 2) By Class: Business Class, Economy Class 3) By End-Use: Private, Commercial The global passenger air transport market size grew from $573.6 billion in 2022 to $834.2 billion in 2023 at a compound annual growth rate (CAGR) of 45.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The passenger air transport market is expected to grow to $1053.34 billion in 2027 at a CAGR of 6.0%. The increase in global tourism is expected to fuel the growth of the passenger air transport market in the forecast period. Global tourism is probably the largest movement of goods, services, and people, and it is a major force for economic growth and socio-political transition. According to the United Nations World Tourism Organization (UNWTO), 1.5 billion international tourist arrivals were recorded in 2019, globally. A 4% increase on the previous year is also forecast for 2020 and is expected to cross US$ 23 million by 2023. Therefore, the increase in global tourism drives the growth of the passenger air transport market. Major companies in the passenger air transport services market include The Emirates Group, American Airlines Group Inc., Delta Air Lines Inc., United Airlines Inc., China Southern Airlines, Japan Airlines Co Ltd., Ryanair DAC, Air France–KLM, and Qatar Airways Company Q.C.S.C The use of analytics is rapidly growing in the aviation industry to capture critical insights from customer and operations data. It allows airlines to offer personalised 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, the commercial airline is looking to enhance customer satisfaction levels by analysing parameters such as ticket sales, passenger profile, and purchase history. For instance, Chicago-based United Airlines analyses 150 variables in a customer profile to offer a more personalised offer. Southwest Airlines, Delta Airlines, and United Airlines are major companies using analytics in the aviation industry. Asia-Pacific was the largest region in the passenger air services transport market in 2022. North America was the second largest region in the passenger air transport services market. The regions covered in the passenger air transport services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the passenger air transport services market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The passenger air transport services market includes revenues earned by entities that transport passengers from one location to another in a short period of time while also improving security. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The passenger air transport market research report is one of a series of new reports from The Business Research Company that provides passenger air transport market statistics, including global passenger air transport market size, regional passenger air transport market shares, competitors with a passenger air transport market share, detailed passenger air transport services market segments, passenger air transport market trends and opportunities, and any further data you may need to thrive in the passenger air transport industry. This passenger air transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Chartered air transport is a mode of transportation that uses aircraft, such as planes and helicopters, to provide chartered (non-scheduled) air transportation services for passengers and/or cargo for a fee per mile or hour for the charter of the aircraft, which includes renting an aircraft for a tour. The main types in the chartered air transportation market are passenger charter air transport, freight charter air transport, and other chartered air transport. Passenger chartered air transport uses aeroplanes and helicopters to provide chartered (non-scheduled) air transportation services for passengers. The market is also segmented by application into private charter, affinity, single entity, and public charter, and by end-use into wealthy individuals, sports teams, and large corporations. The global chartered air transport market is segmented - 1) By Type: Passenger Chartered Air Transport, Freight Chartered Air Transport, Other Chartered Air Transport 2) By Application: Private Charter, Affinity, Single Entity, Public Charter 3) By End Use: Wealthy Individuals, Sports Teams, Large Corportations The global chartered air transport market grew from $79.16 billion in 2022 to $85.9 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The chartered air transport market is expected to grow to $115.78 billion in 2027 at a CAGR of 7.7%. Technology is expected to be a continued driver of the chartered air transportation services market's growth during the forecast period. Sectors such as transportation services will benefit from the greater efficiencies offered by technological advances. Technologies such as aircraft telematics relay engine information via satellite to manufacturers and maintenance teams on the ground to minimise time on the tarmac, reducing flight turnaround times and increasing the efficiencies of airlines. Several technologies such as big data, machine learning, and predictive analytics are also being used to increase efficiencies and align business strategies. Big data uses a combination of real-time information, historical trends, and clever algorithms to translate car speeds, weather conditions, and sources of acceleration and deceleration for road operators. Adoption of technology will drive the chartered air transport industry going forward. Major companies in the chartered air transport market include Atlas Air Worldwide Holdings, TUI Airways, NetJets, Garuda Indonesia, Air Transport Services Group, Jet edge International, Air Partner, Gama Aviation, and Thai Airways International Public Co. Ltd. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the chartered air transport market in 2020. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of "lock down" and the outbreak harmed businesses throughout 2020 and 2021. However, it is expected that the market will recover from the shock. Airlines are actively making use of wearable technology to enhance operational efficiency, maintenance, and to provide add-on entertainment to passengers. Wearable technology includes the use of smartphones, personal electronic devices, smart glasses, smartwatches, near-field communication (NFC), and Bluetooth technology to improve and simplify the passenger experience. These technologies help passengers improve safety and efficiency, and receive updates and information related to their flight. They are capable of helping pilots, crew members, and maintenance teams monitor gas concentrations, levels of noise, and temperature to avoid mishaps. Smartwatches allow passengers to upload their ticket-related information on these devices. About 77% of the 6,000-plus passengers surveyed in a study said they would be comfortable with the use of wearable technology to help them during their journey. Some companies making use of such wearable technologies include Virgin Atlantic, Japan Airlines, EasyJet, and British Airways. North America was the largest region in the chartered air transport services market in 2022. Asia-Pacific was the second largest region in the chartered air transport market. The regions covered in the chartered air transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the chartered air transport market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The chartered air transport market includes revenues earned by entities by ensuring that their cargo has exclusive use of the entire sailing or flight, with guaranteed security and departure/arrival times. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The chartered air transport market research report is one of a series of new reports from The Business Research Company that provides chartered air transport market statistics, including chartered air transports industry, global chartered air transport market size, regional chartered air transport shares, competitors with a chartered air transport market share, detailed chartered air transport market segments, chartered air transport market trends and opportunities, and any further data you may need to thrive in the chartered air transport services industry. This chartered air transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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