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The North American Aviation Market is Segmented by Type (Commercial Aircraft, Military Aircraft, and General Aviation) and Geography.
The North American aviation market is anticipated to register a CAGR of over 2.5% during the forecast period.
The scope of the North American aviation market report includes:
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Airlines based in the United States and Canada have placed orders for several hundred aircraft, which are scheduled to be delivered between 2020 and 2025. American Airlines, Delta Air Lines, United Airlines, Air Canada, and Southwest Airlines are some of the prominent airlines based in North America. As of September 2019, Delta Air Lines placed an order for a total of 95 A220 aircraft, of which 12 A220 aircraft were delivered by May 2019 and the remaining are scheduled to be delivered before 2022. Frontier Airlines has over 175 A320 family aircraft on orders. In June 2019, the airline announced its intent to convert 18 Airbus A320neo family aircraft on order to 18 Airbus A321XLR aircraft. Likewise, United Airlines plans to replace some of its aging Boeing 757s and 767s with newer generation aircraft, like Boeing 787 or long-range A321LR. The growth in the air passenger traffic, high aircraft order backlog, and the demand from airlines to replace their aging fleet are some of the main growth drivers for the segment in the region. However, the economic slowdown and the outbreak of COVID-19 and its impacts, such as the global lockdown, are anticipated to affect the airline revenues and purchasing capacities, which may, in turn, affect the segment’s growth during the forecast period.
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The total number of air passengers carried in the United States increased from 849 million in 2017 to 889 million in 2018. In order to cater to the growing demand for air travel, airlines in this region are introducing new routes every year to increase connectivity that demands a significant fleet capacity increase. The grounding of the Boeing 737MAX aircraft from March 2019 and several airlines canceling their orders for the aircraft subsequently have significantly impacted the revenues of Boeing, a local player in this region, as the aircraft was the fastest-selling airplane in the company’s history. In the defense sector, the United States is expected to deliver steady growth over the next decade, as it is planning to replace its aging fighter jets with advanced jets. The US Marine Corps has plans to procure about 340 F-35B and 80 F-35C models that can replace the AV-8B Harrier II and the aging F/A-18 Hornet jets. New aircraft orders by the defense forces may continue to drive the growth of the aviation market in this region. In general aviation, business jets are expected to experience high demand due to high business activity in the country. Also, charter services are expanding their destinations from the United States, which is attributing to the growth of the market. The purchase of new business jet models that can offer more comfort, range, and space, at lower costs is driving the market growth in the country.
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The prominent players in the market are The Boeing Company, Airbus SE, Lockheed Martin Corporation, General Dynamics Corporation, and Textron Inc. The aviation market in North America is highly competitive due to the presence of several aircraft manufacturing giants. Also, as he majority of the aircraft manufacturing is concentrated in this region, several global aerospace suppliers have manufacturing, sales, and support facilities based in this region. The adoption of innovative methods, increasing products and service offerings, efficient workforce, strategic acquisitions and mergers, tapping into new markets, and competitive pricing are some of the growth strategies adopted by the established players to increase their dominance in the aviation market. Several North America-based aerospace manufacturers are collaborating with companies based in other parts of the world to share their expertise and technical know-how in developing new technologies and products.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 Commercial Aircraft
188.8.131.52 Passenger Aircraft
5.1.2 Military Aircraft
184.108.40.206 Combat Aircraft
220.127.116.11 Non-combat Aircraft
5.1.3 General Aviation
18.104.22.168 Piston Fixed-wing
22.214.171.124 Business Jet
5.2.1 North America
126.96.36.199 United States
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Lockheed Martin Corporation
6.2.2 The Boeing Company
6.2.3 Textron Inc.
6.2.4 Airbus SE
6.2.5 General Dynamics Corporation
6.2.6 Embraer SA
6.2.7 Bombardier Inc.
6.2.8 Pilatus Aircraft Ltd
6.2.9 Honda Aircraft Company
6.2.10 Piper Aircraft Inc.
6.2.11 Air Tractor Inc.
6.2.12 Viking Air Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS