North American Aviation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers North American Airlines Industry Share & Analysis. The Market is segmented Type (Commercial Aircraft (Passenger Aircraft and Freighter Aircraft), Military aircraft (Combat Aircraft and Non-Combat Aircraft), and General aviation (Helicopter, Piston-Fixed Wing Aircraft, Turboprop Aircraft, and Business Jet)) and Geography (United States and Canada). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

North America Aviation Market Size

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North America Aviation Market Summary
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Study Period 2024 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 81.77 Billion
Market Size (2029) USD 94.34 Billion
CAGR (2024 - 2029) 2.90 %

Major Players

North America Aviation Market  Major Players

*Disclaimer: Major Players sorted in no particular order

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North America Aviation Market Analysis

The North America Aviation Market size is estimated at USD 81.77 billion in 2024, and is expected to reach USD 94.34 billion by 2029, growing at a CAGR of 2.9% during the forecast period (2024-2029).

  • The North American Aviation Market was negatively impacted by the COVID-19 pandemic, resulting in a significant decrease in air passenger traffic and a reduction in commercial aircraft operations due to stringent government regulations implemented by the United States and Canada to contain the spread of the virus. However, post-pandemic, the region is experiencing growth as the demand for aviation operations is increasing, resulting in higher air passenger traffic and overall market expansion during the forecast period.
  • The presence of multiple aircraft original equipment manufacturers (OEMs) has led to the maturation of the aviation industry in the North American region. Additionally, the defense sector has benefited greatly from government investments in advanced research and development capabilities for fighter jets and helicopters. The procurement of advanced fighter jets, helicopters, and transport and trainer aircraft from regional players has also contributed significantly to market growth.
  • Moreover, the growth of the general aviation market in North America is expected to be supported by the increasing focus on enhancing private airport infrastructure, along with favorable regulatory changes during the forecast period.

North America Aviation Market Trends

By Type, The Commercial Aircraft Segment is Expected to Witness Significant Increase During the Forecast Period

  • The commercial aircraft segment is expected to experience significant growth during the forecast period, primarily driven by the demand for narrow-body aircraft due to the growing number of domestic passengers in North America. The International Air Transport Association (IATA) predicts that North American carriers will outperform other regions, supported by the rapid recovery of the United States domestic market. 
  • Data from the Bureau of Transportation Statistics (BTS) showed that airlines in the United States carried 674 million passengers in 2021, an increase of 82.5% from the previous year. The opening of the United States market to vaccinated travelers has also contributed to the recovery of international markets.
  • Passenger traffic is gradually recovering from the pandemic's impact and is projected to reach pre-pandemic levels by end of 2023. The International Air Transport Association (IATA) reported that as of December 2021, there were 231 narrow-body and 41 wide-body aircraft deliveries in the region and 361 narrow-body and 52 wide-body aircraft delivered in 2022. Airlines in the region have restructured and implemented strong strategies and have orders for several hundred aircraft scheduled for delivery during the forecast period. Major airlines such as American Airlines, Delta Air Lines, and United Airlines have large-scale aircraft deliveries planned in 2023, while cargo carriers such as Air Canada are expanding and modernizing their fleets aggressively.
  • Overall, these developments are expected to drive growth in the commercial aircraft market during the forecast period.
North America Aviation Market, By Type, CAG (%), 2023-2028

The United States Is Expected To Witness Significant Growth During The Forecast period

  • The United States is expected to witness significant growth during the forecast period, as it is one of the largest aviation markets in the world. According to data from the Bureau of Transportation Statistics, airlines in the United States carried 674 million passengers in 2021, an 82.5% increase from 2020, when 369 million passengers were carried. However, overall passenger traffic in 2021 was 27.3% lower than in 2019. 
  • To cater to the increasing air passenger demand, various airline companies in the United States are upgrading and modifying their fleets and procuring aircraft with advanced capabilities. For example, in February 2022, American Airlines announced that they ordered 30 new 737 Max 8 jets from Boeing. This indicates the growing demand for commercial aircraft, which is expected to aid the growth of the aviation market in the country.
  • Apart from commercial aviation, the United States has the largest expenditure on the armed forces. According to the Stockholm International Peace Research Institute (SIPRI), the military expenditure of the United States increased by almost 2.9% in 2021 to reach USD 801 billion, making it the largest defense spending country in the world, representing 38% of global spending. In the defense sector, the United States is expected to deliver steady growth over the next decade as it plans to replace its aging fighter jets with advanced models. The United States Marine Corps is also planning to procure about 340 F-35B and 80 F-35C models to replace the AV-8B Harrier II and the aging F/A-18 Hornet jets.
  • The onset of the COVID-19 pandemic increased the demand for business aviation. Although overall flight activity dropped in 2020, business aviation flight activity began to recover from May 2020 and significantly increased in 2021 following the easing of social restrictions. Business jet utilization in the United States increased by 42% in 2021 compared to 2020. Furthermore, charter services are expanding their destinations from the United States and offering flights at competitive prices to attract passengers during the pandemic.
  • In summary, such advancements are expected to lead to growth in the market during the forecast period.
North America Aviation Market - CAGR (%), By Country, 2023 - 2028

North America Aviation Industry Overview

The North American aviation market is home to many significant players, including The Boeing Company, Airbus SE, Lockheed Martin Corporation, General Dynamics Corporation, and Textron Inc., among others. The presence of these aircraft manufacturing giants makes the market highly competitive. Additionally, most of the world's aircraft manufacturing is concentrated in this region, making it a hub for global aerospace suppliers with manufacturing, sales, and support facilities.

To maintain their dominance in the region's aviation market, established players adopt several growth strategies, such as adopting innovative methods, increasing product and service offerings, efficient workforce, strategic acquisitions of supply chain players, mergers, tapping into new markets, and competitive pricing. Collaboration and partnership are also essential growth strategies adopted by North American aerospace manufacturers. Many of them collaborate with companies based in other parts of the world to share expertise and technical know-how to develop innovative technologies and products.

For example, Boeing and Lockheed Martin have partnered with Bell to develop tiltrotor aircraft over the years. Such collaborations are expected to drive the growth of players in the market.

North America Aviation Market Leaders

  1. The Boeing Company

  2. Airbus SE

  3. Lockheed Martin Corporation

  4. General Dynamics Corporation

  5. Textron Inc

*Disclaimer: Major Players sorted in no particular order

North America Aviation Market Concentration
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North America Aviation Market News

November 2022: The United States Air Force announced that they were on track to reveal their latest stealth aircraft, the B-21 Raider, which has been developed by Northrop Grumman. The B-21 Raider will replace the existing B-1 and B-2 stealth aircraft and is expected to be operational by early 2023. The cost per aircraft is estimated at USD 2 billion.

April 2022: Exclusive Jets, LLC (operating as flyExclusive) was awarded an order for five Cessna CJ3+ light jets with an option to purchase an additional 25 aircraft. The delivery of the initial five aircraft is scheduled for 2023, while the option to purchase additional aircraft is planned to extend through 2025.

February 2022: American Airlines, based in the United States, announced purchasing 30 new 737 Max 8 jets from Boeing. The airline already has orders for 57 of the 737 Max 8 jets, with delivery expected through 2025. American Airlines is scheduled to receive 15 of the new jets in 2023, with the other 15 to be delivered in 2024.

North America Aviation Market Report - Table of Contents

  1. 1. Introduction

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 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 Industry Attractiveness - 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 Passenger Aircraft

        2. 5.1.1.2 Freighter Aircraft

      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 Aircraft

        3. 5.1.3.3 Turboprop Aircraft

        4. 5.1.3.4 Business Jet

    2. 5.2 Geography

      1. 5.2.1 United States

      2. 5.2.2 Canada

  6. 6. Competitive Landscape

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profile

      1. 6.2.1 Airbus SE

      2. 6.2.2 Lockheed Martin Corporation

      3. 6.2.3 The Boeing Company

      4. 6.2.4 General Dynamics Corporation

      5. 6.2.5 Textron Inc.

      6. 6.2.6 Embraer SA

      7. 6.2.7 Bombardier Inc.

      8. 6.2.8 Pilatus Aircraft Ltd

      9. 6.2.9 Leonardo SpA

      10. 6.2.10 Dassault Aviation SA

      11. 6.2.11 Piper Aircraft Inc.

      12. 6.2.12 Honda Aircraft Company

  7. 7. Market Opportunities and Future Trends

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North America Aviation Industry Segmentation

The North American aviation market encompasses the sales of fixed-wing aircraft and rotorcraft across the commercial, military, and general aviation sectors. The market offers an overview of air passenger traffic, aircraft orders and deliveries, defense spending analysis, the introduction of new routes, and investments by countries into the aviation sector in the region.

The North American aviation market has been segmented into type and geography. By type, the market has been segmented by commercial aircraft (passenger aircraft and freighter aircraft), military aircraft (combat aircraft and non-combat aircraft), and general aviation (helicopter, piston-fixed wing aircraft, turboprop aircraft, and business jet). By geography, the market has been segmented into the United States and Canada. 

The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Type
Commercial Aircraft
Passenger Aircraft
Freighter Aircraft
Military Aircraft
Combat Aircraft
Non-combat Aircraft
General Aviation
Helicopter
Piston Fixed-Wing Aircraft
Turboprop Aircraft
Business Jet
Geography
United States
Canada
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North America Aviation Market Research FAQs

The North America Aviation Market size is expected to reach USD 81.77 billion in 2024 and grow at a CAGR of 2.9% to reach USD 94.34 billion by 2029.

In 2024, the North America Aviation Market size is expected to reach USD 81.77 billion.

The Boeing Company, Airbus SE, Lockheed Martin Corporation, General Dynamics Corporation and Textron Inc are the major companies operating in the North America Aviation Market.

In 2023, the North America Aviation Market size was estimated at USD 79.47 billion. The report covers the North America Aviation Market historical market size for years: . The report also forecasts the North America Aviation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

North American Aviation Industry Report

Statistics for the 2024 North American Aviation market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North American Aviation analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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North American Aviation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)