Aviation Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Type (Commercial Aircraft, Military Aircraft, General Aviation), and Geography.

Market Snapshot

Aviation Market Summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Aviation Market

The aviation market is anticipated to register a CAGR of more than 3%, during the forecast period.

  • Increasing defense expenditure, mostly from the developing countries, may drive the procurement of military aircraft, thereby propelling the growth of the aviation market in the coming years.
  • Lower air fares, growing living standards, and a growing middle-class in large, emerging markets, like China and India, are the hmajor contributors to increased air travel. This has made the airlines operating in the regions to establish new routes and serve more passengers, by procuring new aircraft, thereby adding more seats.
  • Replacement of aging commercial aircraft and the procurement of new generation commercial aircraft are the main factors driving the growth of the market.

Scope of the Report

The aviation market study includes:

 

Type
Commercial Aircraft
Passengers
Freight
Military Aircraft
Combat Aircraft
Non-combat Aircraft
General Aviation
Helicopter
Piston Fixed Wing
Turboprop
Business Jet
Geography
North America
Air Passenger Traffic (2015-2018)
Airline Fleet Expansion and the Introduction of New Routes
Investments on Airport Infrastructure
Defense Expenditure Analysis and the Military Aircraft Procurement
By Country
US
Canada
Europe
Air Passenger Traffic (2015-2018)
Airline Fleet Expansion and the Introduction of New Routes
Investments on Airport Infrastructure
Defense Expenditure Analysis and the Military Aircraft Procurement
By Country
UK
France
Germany
Italy
Rest of Europe
Asia-Pacific
Air Passenger Traffic (2015-2018)
Airline Fleet Expansion and the Introduction of New Routes
Investments on Airport Infrastructure
Defense Expenditure Analysis and the Military Aircraft Procurement
By Country
India
China
Japan
South Korea
Rest of Asia-Pacific
Latin America
Air Passenger Traffic (2015-2018)
Airline fleet Expansion and the Introduction of New Routes
Investments on Airport Infrastructure
Defense Expenditure Analysis and the Military Aircraft Procurement
By Country
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa
Air Passenger Traffic (2015-2018)
Airline Fleet Expansion and the Introduction of New Routes
Investments on Airport Infrastructure
Defense Expenditure Analysis and the Military Aircraft Procurement
By Country
Saudi Arabia
UAE
South Africa
Qatar
Rest of Middle East & Africa

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Key Market Trends

The Market in the Asia-Pacific Region is Expected to Grow, with a High CAGR, during the Forecast Period

In 2018, North America accounted for the highest market share across all the regions in the world. The revenues from the region are predominantly due to the United States, which has the highest aircraft fleet in the world. North America iswas followed closely by Asia-Pacifc, in terms of revenue share, in 2018. Revenues from Asia-Pacific are projected to grow with a high growth rate, during the foecast period, as the emerging economies in the region, like India and China, are experiencing a huge surge in their respective aviation markets, due to an increased demand for air travel in the countries.

Aviation Market Geography

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Commercial Aviation to Dominate the Market in the Coming Years

The commercial aircraft segment dominates the aviation market, accounting for more than half of the market revenues, as of 2018. The commercial segment is expected to continue to dominate the market during the forecast period, due to the rising demand for new aircraft to cater to the increasing air travel. Additionally, several airlines are replacing their ageing fleet with newer generation fuel-efficient aircraft. The military aircraft segment is anticipated to grow, however, slower than the commercial aircraft segment, as most of the new aircraft order finalizations for the military take few years before getting the final approval for the procurement. The declining military expenditures from some countries also hampered the growth of the military aircraft segment, to some extent.

Aviation Market Segmentation

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Competitive Landscape

In the aviation market, four OEMs accounted for close to 60% of the market revenue share in 2018. Lockheed Martin, Boeing, Airbus, and Textron were the major share holdersn of the market revenue, in the aviation market. The rivalry between Boeing and Airbus continued, mainly in the commercial aviation sector. These two companies, along with Lockheed Martin, have maintained their market dominance for a little over a decade now. Commercial aviation is expected to see new innovations getting implemented in aircraft design, which are expected to change the meaning of safety, comfort, and efficiency for, both, passengers and commercial aircraft manufacturers, as per the records of the patent database. Companies are looking forward to grab the opportunities offered by the new technological innovations, thereby increasing their respective market shares.

Major Players

  1. Boeing
  2. Airbus SE
  3. Lockheed Martin Corporation
  4. Bombardier Inc.
  5. Textron Inc.

* Complete list of players covered available in the table of contents below

Aviation Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Commercial Aircraft

        1. 5.1.1.1 Passengers

        2. 5.1.1.2 Freight

      2. 5.1.2 Military Aircraft

        1. 5.1.2.1 Combat Aircraft

        2. 5.1.2.2 Non-combat Aircraft

      3. 5.1.3 General Aviation

        1. 5.1.3.1 Helicopter

        2. 5.1.3.2 Piston Fixed Wing

        3. 5.1.3.3 Turboprop

        4. 5.1.3.4 Business Jet

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 Air Passenger Traffic (2015-2018)

        2. 5.2.1.2 Airline Fleet Expansion and the Introduction of New Routes

        3. 5.2.1.3 Investments on Airport Infrastructure

        4. 5.2.1.4 Defense Expenditure Analysis and the Military Aircraft Procurement

        5. 5.2.1.5 By Country

          1. 5.2.1.5.1 US

          2. 5.2.1.5.2 Canada

      2. 5.2.2 Europe

        1. 5.2.2.1 Air Passenger Traffic (2015-2018)

        2. 5.2.2.2 Airline Fleet Expansion and the Introduction of New Routes

        3. 5.2.2.3 Investments on Airport Infrastructure

        4. 5.2.2.4 Defense Expenditure Analysis and the Military Aircraft Procurement

        5. 5.2.2.5 By Country

          1. 5.2.2.5.1 UK

          2. 5.2.2.5.2 France

          3. 5.2.2.5.3 Germany

          4. 5.2.2.5.4 Italy

          5. 5.2.2.5.5 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 Air Passenger Traffic (2015-2018)

        2. 5.2.3.2 Airline Fleet Expansion and the Introduction of New Routes

        3. 5.2.3.3 Investments on Airport Infrastructure

        4. 5.2.3.4 Defense Expenditure Analysis and the Military Aircraft Procurement

        5. 5.2.3.5 By Country

          1. 5.2.3.5.1 India

          2. 5.2.3.5.2 China

          3. 5.2.3.5.3 Japan

          4. 5.2.3.5.4 South Korea

          5. 5.2.3.5.5 Rest of Asia-Pacific

      4. 5.2.4 Latin America

        1. 5.2.4.1 Air Passenger Traffic (2015-2018)

        2. 5.2.4.2 Airline fleet Expansion and the Introduction of New Routes

        3. 5.2.4.3 Investments on Airport Infrastructure

        4. 5.2.4.4 Defense Expenditure Analysis and the Military Aircraft Procurement

        5. 5.2.4.5 By Country

          1. 5.2.4.5.1 Brazil

          2. 5.2.4.5.2 Mexico

          3. 5.2.4.5.3 Argentina

          4. 5.2.4.5.4 Rest of Latin America

      5. 5.2.5 Middle East & Africa

        1. 5.2.5.1 Air Passenger Traffic (2015-2018)

        2. 5.2.5.2 Airline Fleet Expansion and the Introduction of New Routes

        3. 5.2.5.3 Investments on Airport Infrastructure

        4. 5.2.5.4 Defense Expenditure Analysis and the Military Aircraft Procurement

        5. 5.2.5.5 By Country

          1. 5.2.5.5.1 Saudi Arabia

          2. 5.2.5.5.2 UAE

          3. 5.2.5.5.3 South Africa

          4. 5.2.5.5.4 Qatar

          5. 5.2.5.5.5 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Vendor Market Share

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Bombardier Inc.

      2. 6.4.2 Embraer SA

      3. 6.4.3 Boeing

      4. 6.4.4 Airbus SE

      5. 6.4.5 Textron Inc.

      6. 6.4.6 Lockheed Martin Corporation

      7. 6.4.7 PILATUS AIRCRAFT LTD

      8. 6.4.8 Leonardo SpA

      9. 6.4.9 Honda Aircraft Company

      10. 6.4.10 Piper Aircraft Inc.

      11. 6.4.11 General Dynamics Corporation

      12. 6.4.12 Dassault Aviation*

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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