Market Size of Asia-Pacific Commercial Aircraft Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 13.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Commercial Aircraft Market Analysis
The Asian-Pacific commercial aircraft market is projected to register a CAGR of more than 13% during the forecast period.
Post COVID-19 pandemic, the effect is expected to continue even during the forecast period. Passenger traffic is expected to recover completely in three-four years. However, the large-scale backlog with aircraft OEMs is expected to drive the market during the forecast period. In addition, passenger traffic numbers are expected to recover by 2024. Thus, the commercial aviation industry outlook for the latter half of the forecast period is positive.
The aviation industry's growth is projected to be the highest in Asia-Pacific, as the region is a significant hub for the aviation industry. The emerging economies in the region, like India and China, are experiencing a massive surge in their respective civil aviation markets due to an increased demand for air travel in these countries. Hence, the revenues from Asia-Pacific are projected to witness a high growth rate during the forecast period.
Furthermore, the demand for narrow-body aircraft is expected to recover faster than for wide-body aircraft, as domestic demand is expected to return to pre-COVID-19 levels earlier than the international passenger demand.
