Harrisburg, NC -- (SBWire) -- 10/14/2020 --Commercial Aircraft Global Market Report 2020-30: Covid 19 Impact And Recovery Including: 1) By Type: Passenger Aircrafts; Commercial Helicopters; Commercial Gliders And Drones; Aircraft Turbines; Aircraft Engines; Rocket Engines 2) By Engine Type: Turbofan; Turboprop; Turboshaft 3) By Size: Wide-Body; Narrow-Body; Regional; Others 4) By End-User: Government; Private Sector 5) By Operation: Autonomous Aircraft; Manual Covering: Airbus; The Boeing Company; United Technologies Corporation; Bombardier Inc.; Embraer SA
North America was the largest region in the global commercial aircraft market, accounting for 60% of the market in 2019. Asia Pacific was the second largest region accounting for 15% of the global commercial aircraft market. Eastern Europe was the smallest region in the global commercial aircraft market.
Aircraft fleets in mature markets around the world are aging rapidly and with growing demand from airlines and fleet operators for fuel-efficient aircrafts, manufacturing companies are offering advanced aircrafts for passenger transportation. These advanced aircrafts are equipped with advanced avionics, superior cabin designs and noise reduction capabilities that increase the fuel efficiency and performance of aircrafts. Higher hydraulic operating pressure (5000 psi) systems, variable frequency power generators, Brake to Vacate technology and high-efficiency air filters are new technologies being integrated in aircrafts. Some of the new aircraft offerings include Airbus A320 neo, A330 neo, Boeings 787, 737 MAX, 777x and Bombardiers C-series.
Major players in the Commercial Aircrafts market are Airbus; The Boeing Company; United Technologies Corporation; Bombardier Inc.; Embraer SA.
Revenue expectations for the industry have been adjusted from forecast growth to a forecast decline of 12.2% in 2020, as a result of lower downstream demand resulting from less air travel. For more detail, please see the Current Performance chapter.
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The research report is a compilation of key data with regards to the competitive landscape of this vertical and the multiple regions where the business has successfully established its position.
Some of the key developments in the global commercial aircraft market are given below:
The global commercial aircraft market is mainly dominated by Boeing Company and Airbus SE. In December 2019, United Airlines Holdings Inc., one of the top airlines across the globe, placed a huge order of aircrafts with Airbus SE. United Airline places their first long-range A321neo jets with Airbus. The valuation of the deal is worth over US$7 billion.
In November 2019, Emirates Airline and Boeing Company together a issued a statement in which they announced the Emirates have agreed upon purchasing 30 787-9 Dreamliner aircrafts. The value of the deal is expected to be around US$8.8 billion.
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The single aisle aircraft segment will account for a share of over 56% of the global commercial aircraft market over 2018-2028. The segment attracts investments from all regions primarily owing to the increasing operations of short-haul flight routes by LCCs. The single aisle aircraft segment in Asia-Pacific will account for a share of about 43% over the forecast period, whereas in the European and North American markets, it is anticipated to hold about 20.3% and 18.4% shares respectively. Similarly, in Middle East the segment will account for 8% of the market, while in Latin America and Africa, it is expected to hold 7.9% and 1.8%, respectively.
Wide-body Aircraft Falling Behind in the Commercial Aircraft Market
Wide body aircraft are no longer as popular as they once were in the commercial aircraft market and are rapidly losing their appeal on account of numerous factors detailed in the report. Wide body aircraft are predicted to record a sluggish CAGR of less than 3.5% during the period from 2017 to 2022, necessitating appropriate strategies to be successful in this segment of the commercial aircraft market. Key stakeholders in the commercial aircraft market would be advised to focus their attention on the highly populous and fast-growing APEJ region as the continent can safely be considered the saving grace of the wide-body aircraft segment.
Regional Jets Hold Marginal Opportunity in the Commercial Aircraft Market
Regional jets have a revenue share slightly lower than that of wide-body aircraft in the commercial aircraft market. Nonetheless, companies should not ignore this segment entirely as an absolute dollar opportunity of just under US$ 10 billion is waiting to be tapped in this segment of the commercial aircraft market. Along with North America, regional jets have strong appeal in Europe and companies are recommended to take this into account while devising their long-term strategies.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluates key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Commercial Aircraft Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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How we have factored the effect of Covid-19 in our report:
All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
Commercial Aircraft Market to Witness the Highest Growth Globally in Coming Years 2020-2030