Portland, OR, April 14, 2023 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, the global aircraft manufacturing market generated USD 296.6 billion in 2021 and is expected to reach USD 476.4 billion by 2031, witnessing a CAGR of 5% from 2022 to 2031. The report offers detailed analysis of changing market trends, top segments , key investment pockets, value chains, regional landscape and competitive scenario. The report is a useful source of information for leading market players, new entrants, investors, and stakeholders in developing strategies for the future and taking steps to strengthen their position in the market.
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Aircraft Manufacturers Market Report and Details:
|Market size in 2021||$296.6 billion|
|Market Size in 2031||$476.4 billion|
|Number of pages in the report||300|
|Covered segments||Aircraft type, application and region|
|Drivers||Favorable government initiatives|
|Growth in demand for air travel|
|Technological advances in aircraft manufacturing|
|Opportunities||The growing demand for cargo services along with the increase in trade between nations and the emergence of LCCs (Low Cost Carriers)|
|Limits||High production costs and environmental regulations|
- The outbreak of the COVID-19 pandemic has negatively affected the growth of the aircraft manufacturing market.
- The airline industry was one of the hardest hit sectors as there were travel bans, border closures and reduced demand for air travel, leading to a sharp drop in new aircraft orders. Many airlines have delayed or canceled plans to renew their fleets.
- Consequently, major aircraft manufacturers such as Boeing and Airbus faced challenges such as disruptions to their supply chains, production lines and revenues.
- The market recovered after the pandemic.
The report offers detailed segmentation of the global aircraft manufacturing market based on aircraft type, application, and region. The report provides analysis of each segment and sub-segment with the help of tables and figures. This analysis helps the market players, investors and new entrants in determining the sub-segments to use to achieve growth in the coming years.
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On the basis of aircraft type, the passenger aircraft segment held the largest share in 2021, accounting for nearly two-fifths of the global aircraft manufacturing market and will dominate the market in terms of revenue by 2031. However, the military aircraft segment is estimated to witness the fastest CAGR of 7.2% during the forecast period. The report also discusses the helicopter and commercial aircraft segments.
In terms of application, the military and defense segment accounted for the largest market share of nearly half of the global aircraft manufacturing market in 2021 and is expected to lead the trail during the forecast period. However, the other segment is likely to achieve the fastest CAGR of 7.1% by 2031. The report also discusses the civil and freight segments.
On the basis of region, the North American market was the largest in 2021, accounting for nearly one-third of the global aircraft manufacturing market and is likely to maintain its dominance over the forecast period. However, the market in LAMEA is expected to exhibit the highest CAGR of 7.0% from 2022 to 2031. Other regions analyzed in the study include Asia Pacific and Europe.
Leading players in the global aircraft manufacturing market analyzed in the research include Airbus, Commercial Aircraft Corporation of China, Ltd., Lockheed Martin Corporation, Embraer, Dassault Aviation, Textron Inc., Boeing, Leonardo SPA, General Dynamics Corporation and Raytheon Technologies Corporation.
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The report analyzes these key players in the global aircraft manufacturing market. These players have adopted various strategies such as expansion, new product launches, partnerships and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio and development of each market player.
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