Global Aircraft Manufacturing Market Share Is Expected to Grow At A CAGR Value Of Around 3.01% By 2028

13-Jul-2022 | Facts and Factors

According to Facts and Factors, The global aircraft manufacturing market size was valued at USD 395.50 million in 2021 and is predicted to increase at a CAGR of 3.01% to USD 479.09 million by 2028. The study examines the market in terms of revenue in each of the major regions, which are classified into countries.

Increased usage of aircraft for military and civil aviation, economic expansion in developed and developing countries and rising per capita income may drive the aircraft market, which would, in turn, fuel the aircraft manufacturing industry over the projection period. The number of passengers traveling by civil aircraft is increasing as a result of rising disposable income, which has a favorable impact on the aircraft manufacturing business. Increased investment in defense aircraft is likely to boost market expansion as the travel and tourist industry grows.

Browse the full “Aircraft Manufacturing Market Size, Share, Growth Analysis Report By Product Type (Gliders, Helicopters, Ultra-Light Aircraft, Passenger Aircraft, Unmanned Aerial Vehicles & Drones, Blimps (Airship)), By Application (Military & Defense, Civil, Commercial (Freight), Others), and By Region - Global Industry Insights, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028" report at https://www.fnfresearch.com/aircraft-manufacturing-market

However, the current economic crisis and rising unemployment rates may have a detrimental impact on market growth. Initially, aircraft production necessitates a large investment, which may stifle market expansion. On the other hand, technological advancements in aircraft production increased R&D efforts, and the expanding usage of cargo aircraft by the E-commerce industry is expected to drive significant market expansion in the future years.

Rising aircraft usage for military and civil aviation, economic expansion in developed and developing countries, and increases in disposable income may all drive the aircraft market, boosting the aircraft manufacturing industry's growth. Furthermore, market growth may be fuelled by novel technology breakthroughs aimed at improving aircraft production. Economic uncertainty and political instability, on the other hand, may stifle market expansion. On the other hand, the e-commerce industry's increased usage of aircraft for business and delivery may open up lucrative market potential. However, rapid economic expansion and greater air travel in emerging nations, as well as the necessity to replace older aircraft with new, more fuel-efficient aircraft in developed markets, have boosted demand for industry products significantly.

Segmental Overview

Due to the growing number of passengers and the growth of the travel and tourism industry, the passenger aircraft category is predicted to contribute the highest market share in the global aircraft manufacturing market. Due to the employment of these aircraft for various purposes in the defense sector, unmanned aerial vehicles & drones are likely to grow in popularity in the future years. In 2021, the civil category topped the market, and it is expected to continue to rise in the coming years, owing to rising consumer spending on air travel and an increase in the number of business passengers.

In 2021, the commercial segment is predicted to have the biggest revenue share and lead the market for the next few years. Increased passenger and freight traffic on a global basis can be ascribed to this huge segment share. Furthermore, the segment's growth is predicted to be fuelled by expanding demand for cargo services, as well as increased worldwide trade. Furthermore, the rise of LCCs (low-cost carriers) is likely to offer the market considerable growth potential. Following in the footsteps of low-cost carriers, other airlines are implementing comparable business models to secure their long-term survival in the face of rising competition in the aircraft building industry. The military and defense sectors will grow at the fastest rate in the business.

Regional Overview

In the global market, North America will account for the greatest revenue share. The increased demand for new generation airplanes is responsible for this large market share. Furthermore, the presence of a large industrial player in the region is projected to open up new market prospects. Major aircraft and component makers, such as Boeing, are anticipated to participate, bringing in funds. The upgrading of aeroplane fleets, as well as the region's airlines' ambitions for destination expansion, are likely to propel the aeroplane manufacturing market forward. Furthermore, market growth is likely to be fuelled by increased passenger travel to and from the United States. As a result, these elements are encouraging the growth of the industry across North America.

Report Scope

Some of the major companies operating in the aircraft manufacturing market are Airbus Group SE, The Boeing Company, Bombardier Inc., Commercial Aircraft Corporation of China, Ltd., Embraer S.A., Public Joint Stock Company United Aircraft Corporation, GE Aviation, United Technologies Corporation, Lockheed Martin Corporation, Leonardo-Finmeccanica S.p.a, and among others.

The global aircraft manufacturing market is segmented as follows:

By Product Type

• Gliders
• Helicopters
• Ultra-Light Aircraft
• Passenger Aircraft
• Unmanned Aerial Vehicle & Drones
• Blimps (Airship)

By Application

• Military & Defence
• Civil
• Commercial (Freight)
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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