Market Size of North America Aviation Industry
| 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
*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.
