North America Commercial Aircraft Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The North America Commercial Aircraft market is segmented by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, and Regional Aircraft), by Engine Type (Turbofan and Turboprop), by Application (Passenger Aircraft and Freighter), and by Geography (The United States and Canada). The report offers the market size and forecasts in value (USD million) for all the above segments.

Market Snapshot

North America Commercial Aircraft Market Growth
Study Period: 2018-2027
Base Year: 2021
CAGR: 11.8 %
North America Commercial Aircraft Market Key Players

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Market Overview

The North America Commercial Aircraft Market is poised to grow up to USD XX Billion by 2027, registering a CAGR of XX% during the forecast period (2022 – 2027).

The COVID-19 pandemic had a huge negative impact on the commercial aircraft market. Owing to the halt in global transportation. Also, the stringent lockdowns enforced across the world have significantly ruined the economic conditions of the commercial aircraft market. 

According to the research by International Air Transport Association (IATA), the United States witnessed a total decrease of 69% in passenger traffic due to the pandemic, resulting in a total loss of USD 130 Billion for the airlines operating in this country. Similarly, Canada experienced a net loss of USD 10 Billion in revenue for the aviation industry in 2021.

However, with the increasing number of orders for major manufacturers kike Boeing, along with the rising trend to use smaller commercial aircrafts like Cessna and Beechcraft, the demand for commercial aircrafts in the region are expected to increase over the forecast period, reviving the market. 

Scope of the Report

The North American Commercial aircraft market encompasses the aircrafts used for the commercial passenger transport used by airlines. The market is segmented by aircraft type into narrow-body aircraft, wide-body aircraft, and regional aircraft. The market is further segmented by engine type into turbofan and turboprop. The market is also segmented by Application into passenger aircraft and freighter, along with market study across various countries. The report also offers market size and forecast in value (USD Billion) for all the above segments.

Aircraft Type
Narrow-Body Aircraft
Wide-Body Aircraft
Regional Aircraft
Engine Type
Turbofan
Turboprop
Application
Passenger Aircraft
Freighter
Geography
United States
Canada

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Key Market Trends

The Passenger Aircraft Segment is Expected to Witness Highest Growth Rate During the Forecast Period

The COVID-19 pandemic had a severe negative impact on the passenger aircraft segment of the market in 2020. According to the global air passenger traffic showed steady growth until 2019 with a growth of approximately 4.1% compared to 2018. In 2020, the market witnessed a huge slump due to the pandemic. However, according to research and estimates by Airbus, air traffic is expected to claw back significantly to recover to pre-COVID levels between the years 2023 and 2025 of the forecast period. With the estimated exponential growth of the aviation industry during the forecast period, the large-scale international plane manufacturers have been receiving huge orders for passenger aircrafts to be delivered over a long time period to the airlines. For instance, in November 2021, Airbus announced that it had received an order for 225 jets in the company’s first major deal after the COVID-19 outbreak. The deal was for A321Neo aircrafts estimated to be worth billions of USD from a private equity firm in the United States. Similarly, Canada has also been investing in increasing the availability of a fleet of aircrafts to be able to cater to the projected increase in demand during the forecast period. As a result, in March 2022, Air Canada announced the acquisition of 26 new Airbus A321Neo extra-long-range aircrafts. With this expansion, the company expects to add more fleet to cover the entire North American region along with select trans-Atlantic points, offering a sufficient range and advanced fuel efficiency for the carrier. Deliveries for these aircrafts are expected to begin in the first quarter of 2024, further driving the market growth during the forecast period.

North America Commercial Aircraft Market Share

The United States is Expected to Lead the Market

Despite the pandemic and shutdown of global air transportation, the major airlines across the United States have managed to stay afloat, without taking drastic measures to survive the economic slump. With the market conditions forecast to revive gradually during the forecast period, these airlines have executed necessary actions to keep the market stable and were very effective to pick back up when the restrictions were eased in 2021. For instance, United Airlines has taken a different stance compared to its network competitors. The airline has not announced significant fleet retirements and has maintained a robust order book, with over 800 aircraft in its fleet and over 300 aircraft on order as of Q4 2020. The airline also announced new long-haul international and domestic routes. Southwest Airlines also announced plans to modernize its fleet by replacing its old 737 aircraft with the latest MAX variants. ​In March 2021, United Airlines placed an order for 25 Boeing 737 MAX aircraft. On the other hand, Alaska Airlines retired about 30 aircraft from its fleet in 2020, while Spirit Airlines kept most of its fleet grounded in 2020. The demand for air cargo increased in the United States in 2020. Correspondingly, the air cargo carriers in the country ordered new aircraft to expand their fleet. In January 2021, DHL Express increased the number of 777Fs it had on firm orders with Boeing by eight units and added options for four more. Likewise, in July 2020, FedEx Express agreed to purchase 50 additional 767-300F aircraft from Boeing as it continues to modernize its aircraft fleet. In addition to the 50 confirmed orders, FedEx also has options to purchase a total of 50 767F aircraft. As of February 2022, FedEx also plans to procure freighter planes as the e-commerce sector soars in the country post-pandemic. As per this plan, the company is in talks with Boeing to buy next-generation freighters to cater to the increasing demand, thereby driving the market growth in the United States.

North America Commercial Aircraft Market Size

Competitive Landscape

The North American commercial aircraft market is a highly consolidated market with prominent players dominating the industry and catering to its needs. With major aircraft manufacturers headquartered in the United States and Canadian regions, there is intense competitive rivalry within the North American region. The Boeing Company, Lockheed Martin, Textron Aviation, and Diamond Aircraft Industries Inc. are some of the world’s largest aircraft manufacturers in the North American region, catering to the commercial aircraft market. These companies are on a spree of expansions and product updates with an aim to gain the highest market share in the region. For instance, in January 2022, Boeing announced a new company expansion project to offset the existing competition. As part of a competitive expansion project, Boeing is planning to invest a total of USD 2.5 Million involving a 20,000 sq foot expansion to the company’s existing facility.

Recent Development

In April 2022, Textron Aviation announced a new order for up to 30 Cessna Citation CJ3+ light jets via a purchase agreement with Exclusive Jets LLC. This new purchase is expected to increase the company’s market share and position in private commercial aviation in the North American region.

In November 2021, Akasa Air, a brand of SNV Aviation, placed an order for 72 Boeing 737 MAX family aircraft (Boeing 737-8 and Boeing 737-8-200). The order was valued at approximately USD 9 billion.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    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 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 Aircraft Type

      1. 5.1.1 Narrow-Body Aircraft

      2. 5.1.2 Wide-Body Aircraft

      3. 5.1.3 Regional Aircraft

    2. 5.2 Engine Type

      1. 5.2.1 Turbofan

      2. 5.2.2 Turboprop

    3. 5.3 Application

      1. 5.3.1 Passenger Aircraft

      2. 5.3.2 Freighter

    4. 5.4 Geography

      1. 5.4.1 United States

      2. 5.4.2 Canada

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles*

      1. 6.2.1 Airbus SE

      2. 6.2.2 The Boeing Company

      3. 6.2.3 Lockheed Martin Corporation

      4. 6.2.4 Embraer S.A.

      5. 6.2.5 Dassault Aviation S.A.

      6. 6.2.6 Diamond Aircraft Industries Inc.

      7. 6.2.7 Textron Aviation

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Frequently Asked Questions

The North America Commercial Aircraft Market market is studied from 2018 - 2027.

The North America Commercial Aircraft Market is growing at a CAGR of 11.8% over the next 5 years.

The Boeing Company , Lockheed Martin Corporation, Gulfstream Aerospace Corporation (General Dynamics Corporation) , Airbus S.E., Textron Aviation Inc. are the major companies operating in North America Commercial Aircraft Market.

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