Commercial Aircraft Market to Reach US$265.71 Billion by 2019 owing To Rising Demand for Narrow Body Aircrafts
Albany, NY -- (SBWIRE) -- 10/02/2015 -- A new report has been published by Transparency Market Research, titled "Commercial Aircraft Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019". TMR, a market intelligence company based in the U.S., states that the global commercial aircraft market was estimated at US$189.21 billion in 2012. It is expanding at a CAGR of 5.0% from 2013 to 2019 and is expected to reach US$265.71 billion by 2019.As per the TMR report, the commercial aircraft market is stimulated by rising demand for advanced and new aircraft owing to airlines' network expansion along with the growing demand for narrow body or single-aisle aircrafts.On the basis of components, the commercial aircraft market is segmented into airframe, avionics, engines, systems, landing gear, and interior. In 2012, among the various component types, the segment for jet engines held a substantial revenue share in the total market. Jet engines, which are utilized to power an aircraft, are segregated into turboprop and turbofan engines. Amongst these, the market for turbofan engines, which offer enhanced speed and efficiency at greater altitudes, is predicted to register stable growth in comparison with turboprop engines.
Browse the full Commercial Aircraft Market report at http://www.transparencymarketresearch.com/commercial-aircraft-market.html
According to this TMR report, in terms of aircraft type, the commercial aircraft market is segmented into medium wide-body, large wide-body, small wide-body, business jets, and regional jets. Narrow body aircraft and large wide-body aircraft are anticipated to surface as the major segments and will lead demand from the market for commercial aircraft. Demand for specific types of aircraft mainly depends upon the duration of the travel, which can be either long haul or short haul.The TMR report states that low cost carriers (LCC) prefer narrow body aircrafts, which function well on high-traffic and short routes, and are thus suited to catering to budget travelers. Domestic locations are usually connected by these routes for a given country. The aircrafts with a large wide-body are highly in demand in routes with higher traffic, usually connecting international destinations. Among the various types of aircrafts, regional jets were the most demanded along with turbofan engines, utilized for short haul travel, registering the greatest contribution to total revenue in 2012. This was majorly owing to the rise in domestic travel in countries such as the U.S., Canada, and Mexico.
As per this TMR research report, this market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America governed the global market for commercial aircraft in 2012, trailed by Europe, which held a 38% revenue share in the global market in 2012. Additionally, the region of Asia Pacific is anticipated to register the most rapid growth in comparison with other regions in the forecast horizon thanks to the emergence of low-cost airlines, the average middle-class individual's increased disposable income, and infrastructure expansion in countries such as Singapore, India, and China.Substituting current aircraft engines with new models that are more fuel-efficient owing to technological developments in engine manufacturing as well as design would promote the increase in demand for commercial aircraft in the forecast horizon. Nonetheless, restraints such as strict environmental regulations are hampering the growth of this market.Key players in the market include Airbus S.A.S, Boeing Company, Bombardier Inc., Rolls-Royce Holdings Plc., GE Aviation (General Electric Corporation), and Pratt and Whitney (United Technologies Corporation), among others.
Key Segments of the Commercial Aircraft Market
Commercial Aircraft Jet Engine Market, by Engine Type
Commercial Aircraft Market, by Component
Commercial Aircraft Market, by Aircraft Type
Commercial Aircraft Market, by Geography
Rest of the World (RoW)
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