Market Trends of north america commercial aircraft cabin lighting Industry
The aviation industry's growth is fueled by the recovery of air travel and the high volume of aircraft orders placed by various airlines
- Ongoing political tensions between China and the United States have impacted Boeing, and it now plans to remarket some B737 MAX jets earmarked for Chinese customers. Boeing is encountering a challenging predicament since Chinese airlines have stopped placing orders for its aircraft. However, the Boeing delivery center, located in Zhoushan, China, is fully prepared and anticipated to recommence the delivery of 737 MAX aircraft. It is worth noting that the Zhoushan facility has the capacity to house up to 100 aircraft every year.
- Year-to-date, Airbus accumulated 1,044 net new orders (1,080 gross orders), compared to 259 net new orders (442 gross orders) in the first half of 2022. In 2022, Airbus booked 820 net new orders (1,078 gross orders), surpassing both 2021 gross orders and net new orders. In 2022, Airbus won the orders crown for the fourth consecutive year by a fairly slim margin of just 46 aircraft compared to Boeing. In 2021, Airbus booked a total of 771 gross orders and received 264 cancellations, for a total of 507 net new orders. In June 2023, Airbus booked orders for a whopping 902 aircraft for 12 different customers and reported two A321neo cancellations, for a total of 900 net new orders.
- Year-to-date, Boeing has accumulated 415 net new orders (527 gross orders), compared to 186 net new orders (286 gross orders) in the first six months of last year. In 2022, Boeing booked 774 net new orders (935 gross orders), up from 479 net new orders (909 gross orders) in 2021. As of June 2023, Boeing booked orders from nine customers for a total of 304 jets (gross orders). However, the company also reported 16 777X cancellations, resulting in 288 net new orders.
Understand The Key Trends Shaping This Market
Download Sample
Consistent growth in air travel is the driving factor for air passenger traffic in North America
- North America's vast landmass and diverse destinations make it a popular choice for millions of passengers who choose to fly both domestically and internationally. Factors such as a growing economy, increased affordability of air travel, and a rising middle class have contributed to a significant uptick in air passenger traffic. Air passenger traffic in the United States reached 1.04 billion in 2022, up by 7% compared to 2021 and 12% compared to 2019. In 2022, from January through December, US airlines carried 853 million passengers, up from 658 million in 2021 and 388 million in 2020. The total number of passengers carried by airlines in Canada reached 107 million in 2022, surpassing the levels in 2021 by 6%. In 2022, Mexico had 100 million air passenger traffic, representing a 7% growth compared to its 2021 traffic levels. North America has benefitted from fewer and shorter-lasting travel restrictions than many other countries and regions. This has boosted domestic travel in the large home market, as well as international travel. Net profits in the region are expected to rise from USD 9.9 billion in 2022 to USD 11.4 billion in 2023.
- To cater to the demand driven by air passenger traffic, various airlines in the region are planning to procure new aircraft. For instance, around one-third of global aircraft deliveries in 2023 were anticipated to be received by various carriers in North America. Although the region’s aircraft deliveries were already above 2019 levels in 2022, they were expected to grow by an additional 72 units in 2023. Overall, with consistent air travel, the region's air passenger traffic is expected to increase by 1.7 billion in 2030 compared to 1.2 billion recorded in 2022.
Understand The Key Trends Shaping This Market
Download Sample
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Airlines are placing huge orders for new fuel-efficient aircraft, and the expansion of LCCs is contributing to the growth of the market
- Commercial aircraft orders that are being placed with major OEMs are the primary drivers of revenue for the aircraft manufacturers in this market
- The growing demand for air travel and the allocation of funds toward airport infrastructure are the key driving factors behind the growth of the region's aviation industry
- Rising economic stability, particularly in the United States, is expected to support North America's GDP per capita growth
- The aircraft backlog in North America is primarily driven by the increasing demand for smaller and more efficient aircraft by various airlines
- Airlines are expected to reduce the overall aircraft weight by adopting fuel-efficient measures, driving the segment's demand
