Southeast Asia Aviation Market Size (2024 - 2029)

The market size of Southeast Asia's aviation sector is expected to grow significantly in the coming years. This anticipated growth is despite the significant impact of the COVID-19 pandemic on the commercial aviation segment, which saw a drastic reduction in the need for commercial aircraft due to global transportation halts and lockdowns. However, the market is expected to recover, with passenger traffic projected to return to pre-pandemic levels, thereby driving market investments and revenue influx. On the other hand, the military aviation segment has remained resilient amid the pandemic, with its market size further bolstered by rising global defense expenditure and regional tensions.

Market Size of Southeast Asia Aviation Industry

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Southeast Asia Aviation Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 36.06 Billion
Market Size (2029) USD 45.68 Billion
CAGR (2024 - 2029) 4.84 %
Market Concentration Low

Major Players

Southeast Asia Aviation Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Southeast Asia Aviation Market Analysis

The Southeast Asia Aviation Market size is estimated at USD 36.06 billion in 2024, and is expected to reach USD 45.68 billion by 2029, growing at a CAGR of 4.84% during the forecast period (2024-2029).

The expanding middle-income demographic in Southeast Asia and the surge in economic advancements have led to a rise in the accessibility and need for air transportation. This region has become a favored tourist hotspot, drawing in millions annually. The upsurge in tourism has contributed to the escalation of air traveler numbers in the area.

The aviation market in Southeast Asia is characterized by intense competition, wherein full-service and low-cost carriers vie for a portion of the market. This competitive environment places significant financial strain on airlines, necessitating stringent adherence to safety protocols amidst challenges such as airspace coordination and governmental regulations.

Focus on indigenous manufacturing by various countries in the region is also likely to boost the armed forces' procurement of various advanced aircraft and rotorcraft, which is expected to be one of the market growth drivers during the forecast period.

Southeast Asia Aviation Industry Segmentation

The report considers revenues from new aircraft deliveries and affiliate service contracts. Similarly, the report analyses investments in new airports, aircraft procurement programs, defense spending, and various business expansions by multiple companies.

The Southeast Asian aviation market is segmented by type and geography. By type, the market is segmented into commercial, military, and general aviation. The report also offers the market size and forecasts for five countries across the region. The market sizing and forecasts have been provided in value (USD).

Type
Commercial Aircraft
Passenger Aircraft
Freighter Aircraft
Military Aircraft
Combat Aircraft
Non-combat Aircraft
General Aviation
Helicopter
Turboprop Aircraft
Business Jets
Country
Singapore
Indonesia
Thailand
Philippines
Malaysia
Rest of Southeast Asia

Southeast Asia Aviation Market Size Summary

The Southeast Asia Aviation Market is projected to grow significantly in the coming years. The growth is attributed to the recovery of the commercial aviation segment, which was severely impacted by the COVID-19 pandemic. The International Air Transport Association (IATA) anticipates passenger traffic to return to pre-pandemic levels by 2024, leading to substantial market investments and revenue influx. Furthermore, the military aviation segment has remained resilient due to the consistent increase in global defense expenditure and geopolitical tensions in the South China Sea. Trends in the Southeast Asia Aviation Market indicate that the commercial aircraft segment is expected to lead the market due to an untapped passenger market and increasing internet usage. The growth in passenger traffic is primarily driven by an increase in disposable income levels and growth in the tourism sector in various countries like Indonesia, Thailand, the Philippines, and Singapore. Airlines are planning aircraft deliveries as part of their expansion and fleet modernization plans, which is expected to propel the growth of the segment. Moreover, Singapore is anticipated to experience significant growth during the forecast period due to its status as a major aviation hub in Southeast Asia. The country's own airline, Singapore Airlines, is one of the leading carriers operating in the region, driving a significant passenger influx into the country. The country is also upgrading its defense capabilities, creating numerous market growth opportunities.

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Southeast Asia Aviation Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Commercial Aircraft

        1. 2.1.1.1 Passenger Aircraft

        2. 2.1.1.2 Freighter Aircraft

      2. 2.1.2 Military Aircraft

        1. 2.1.2.1 Combat Aircraft

        2. 2.1.2.2 Non-combat Aircraft

      3. 2.1.3 General Aviation

        1. 2.1.3.1 Helicopter

        2. 2.1.3.2 Turboprop Aircraft

        3. 2.1.3.3 Business Jets

    2. 2.2 Country

      1. 2.2.1 Singapore

      2. 2.2.2 Indonesia

      3. 2.2.3 Thailand

      4. 2.2.4 Philippines

      5. 2.2.5 Malaysia

      6. 2.2.6 Rest of Southeast Asia

Southeast Asia Aviation Market Size FAQs

The Southeast Asia Aviation Market size is expected to reach USD 36.06 billion in 2024 and grow at a CAGR of 4.84% to reach USD 45.68 billion by 2029.

In 2024, the Southeast Asia Aviation Market size is expected to reach USD 36.06 billion.

Southeast Asia Aviation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)