Market Size of APAC Aviation Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 88.35 Billion |
| Market Size (2029) | USD 102.27 Billion |
| CAGR (2024 - 2029) | 2.97 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific Aviation Market Analysis
The APAC Aviation Market size is estimated at USD 88.35 billion in 2024, and is expected to reach USD 102.27 billion by 2029, growing at a CAGR of 2.97% during the forecast period (2024-2029).
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In the Asia-Pacific region, the COVID-19 pandemic has resulted in a decline in sales of aircraft in the commercial and general aviation segments in 2020. In the commercial sector, the international passenger traffic continued to remain low in 2021. Nevertheless, the domestic passenger traffic has been robustly growing in various countries since late 2020. A similar trend was witnessed in the general aviation sector in 2021 as the aircraft movement significantly increased compared to 2020.
During the forecast period, the revival of the aviation industry in Asia-Pacific is expected to be faster than the other regions in the world, as several airlines in the region have plans to procure new aircraft over the next five years. The domestic passenger traffic is rapidly growing in the region, and the domestic airlines are rapidly increasing their fleet of aircraft and expanding their route network to capture the market opportunities. By the end of the forecast period, China and India are expected to be among the top aviation markets in the world.
The military spending of the countries in the region has been increasing robustly over the past few years due to the ongoing geopolitical tensions between various years countries. This is propelling the investments towards procurement of new generation aircraft for combat and non-combat applications to enhance their aerial capabilities.
With the strong demand for the tourism sector in the region, as well as the increasing number of high-net-worth individuals in the region, there is a growing demand for leisure and business travel, which is subsequently driving the demand for business jets and helicopters from charter and other aircraft operators in the country.
Several countries in the region are also currently developing indigenous newer generation aircraft across the commercial and military segments. This move is expected to enhance the manufacturing capabilities and the market share of the players during the forecast period.
