Market Size of commercial aviation Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 198.72 Billion |
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Market Size (2030) | USD 293.59 Billion |
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Largest Share by Sub Aircraft Type | Passenger Aircraft |
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CAGR (2024 - 2030) | 6.72 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Commercial Aviation Market Analysis
The Commercial Aviation Market size is estimated at 198.72 billion USD in 2024, and is expected to reach 293.59 billion USD by 2030, growing at a CAGR of 6.72% during the forecast period (2024-2030).
198.7 B
Market Size in 2024 (USD)
293.6 B
Market Size in 2030 (USD)
8151
Total Deliveries in the Historic Period (2017-2023)
12864
Total Deliveries during the Forecast Period (2024-2030)
Largest Market by Sub-Aircraft Type
94.56 %
value share, Passenger Aircraft, 2023
The sub-aircraft type segment is dominated by passenger aircraft. Increasing air passenger traffic and the growth of the middle-class population in emerging countries are driving the market's growth.
Largest Market by Body Type
70.10 %
value share, Narrowbody Aircraft, 2023
A fleet of narrowbody aircraft adds flexibility in terms of fleet management and helps to reduce the operating costs of the airlines, thereby resulting in the rapid adoption of this aircraft.
Largest Market by Country
25.30 %
value share, United States, 2023
Increasing levels of air transportation and a rising number of commercial aircraft orders from major airlines are driving the market studied in the country to register a major revenue share during 2024-2030.
Largest Market by Region
35.53 %
value share, Asia-Pacific, 2023
The rise in the domestic and international air traffic levels in the region is driving the airlines to procure more aircraft, thereby resulting in the growth of the regional commercial aircraft market.
Leading Market Player
58.94 %
market share, Airbus SE, 2022
Airbus dominates the market at a global level with its extensive range of product offerings, including almost all types of commercial aircraft and freighter aircraft.
The growth in air passenger traffic and the increasing demand for fuel-efficient and modern aircraft are expected to boost the commercial aviation industry globally
- According to the UNWTO, tourism contributes 10% of the world's GDP, making it one of the main sources of income in the modern world, with 57% of cross-border travelers using aircraft. In the last 15 years, the number of passengers in commercial aviation has doubled.
- During the forecast period, a total of 14,080 commercial aircraft are expected to be delivered, some of which may replace the current fleet's more aged aircraft. The COVID-19 pandemic affected air passenger traffic globally in 2020, reducing flight activity and impacting airline cash flows. As a result, most airlines decided to cancel or defer their aircraft orders. However, the commercial aviation industry recovered gradually in 2022, which led to a significant increase in aircraft deliveries compared to 2021. Airlines are looking for aircraft with better fuel efficiency and range, and the development of newer aircraft may help OEMs attract more airline customers in the coming years.
- In terms of deliveries during 2017-2022, a total of 2,049 aircraft were procured by various airlines globally. Of these total 2,049 aircraft, passenger aircraft accounted for 96%, and freighter aircraft accounted for 4%.
- Since the domestic passenger demand is anticipated to return to pre-COVID-19 levels earlier than the international passenger demand, the market for narrowbody aircraft is anticipated to rebound faster than the demand for widebody aircraft. The 737 MAX's return to service in late 2020 may also support the expansion of the narrowbody segment. Such developments are expected to drive the demand in the market. A total of 13,812 passenger aircraft and 268 freighter aircraft are expected to be delivered globally during the forecast period.
Understand The Key Trends Shaping This Market
Asia-Pacfific is expected to be the most lucarative market in the commercial aviation
- North America is expected to be the second-highest-growing region after Asia-Pacific. In terms of aircraft deliveries, North America’s commercial aircraft accounted for almost 29% of the total commercial aircraft worldwide from 2017 to 2022. Aircraft deliveries are expected to rise by 57% from 2023 to 2030. North America may be accountable for 27% of total aircraft deliveries during the forecast period.
- Europe’s commercial aircraft accounted for 17% of the total commercial aircraft worldwide from 2017 to 2022. Air travel in South America contracted to 199.15 million air passengers in 2021 compared to 210.73 million passengers traveled in 2020. During the forecast period, Europe, Middle East & Africa, and South America may account for around 20%, 9%, and 3% of total aircraft deliveries, respectively.
- The COVID-19 pandemic greatly impacted the commercial aircraft market due to a halt in global transportation. The stringent lockdowns enforced worldwide also significantly impacted the economic conditions of the commercial aircraft market. Therefore, in 2021, international passenger demand was 75.5% lower than in 2019.
- Asia-Pacific (APAC) is projected to grow at a healthy rate between 2023 and 2030. Domestic passenger traffic has been steadily increasing in the APAC region, although the pandemic had a significant impact on the region’s aviation industry. In 2022, the APAC region contributed 38% of total air passenger traffic worldwide.
- The region’s rising per capita income due to economic and infrastructure growth contributed to the growth of air passenger numbers and supported the expansion of the regional and domestic airlines’ fleets. Narrowbody aircraft accounted for approximately 83% of total deliveries during the period.
