Albany, NY -- (SBWIRE) -- 09/14/2016 -- The competition in the global commercial aircraft market is analyzed on the basis of two main components of its landscape, engine manufacturers and aircraft manufacturers, finds a recent study by Transparency Market Research (TMR). Boeing Co. and Airbus S.A.S. have emerged as the key aircraft manufacturers across the world. In 2012, both manufacturers held a collective share of more than 80% in the overall market. GE Aviation, Rolls Royce, and Pratt and Whitney are the leading engine manufacturers for commercial aircraft.

With the significant increase in the air traffic, aircraft manufacturers are aggressively focusing on innovations and technological advancements at present, in order to meet the heightened demand for highly efficient aircraft. Over the coming years, these manufacturers will need to shift their focus towards providing better after-sales and aircraft maintenance services to airlines, in a bid to reduce their operational costs, enabling them to offer price competitive services to consumers. This, in turn, will help manufacturers strengthen their relationship with airlines, which are their main clients, notes the study.

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As per TMR, the global market for commercial aircraft offered an opportunity worth US$217.3 bn in 2015. Expanding at a CAGR of 5.0% during the period from 2013 to 2019, it is likely to reach a value US$265.7 bn by the end of the forecast period. Regional jets generated a revenue of US$46.9 bn in 2012. The segment has been witnessing higher demand than other types of commercial aircraft in the recent times.

Asia Pacific to Acquire Dominance in Global Commercial Aircraft Market

In this study, Asia Pacific, Europe, North America, and the Rest of the World have been identified as the key geographical segments of the global commercial aircraft market. The demand for commercial aircraft has increased substantially in Asia Pacific over the last few years due to the rising count of air passengers in emerging economies such as India, Bangkok, Singapore, and Indonesia.

The trend is likely to remain the same over the forecast period, ensuring the dominance of Asia Pacific over other regional markets. Analysts estimate a total of US$105.03 bn to be generated in terms of revenue in Asia Pacific by 2019. Europe is also projected to record healthy growth in its market for commercial aircraft, states the report.

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Rising Number of Air Passengers to Boost Demand for Highly Efficient Commercial Aircraft

"Thanks to the remarkable surge in the number of air passengers, the market for commercial aircraft has gained substantial momentum across the world," says an analyst at TMR. According to the International Air Transport Association (IATA), by the end of 2016, the count of air passengers is likely to reach 3.6 billion with nearly 330 million new travelers using international services and 500 million new passengers traveling on domestic routes.

In order to accommodate expected passenger growth, a number of developments, such as the expansion of existing routes and construction of new routes, are on the horizon. This, in turn, is expected to fuel the demand for advanced and highly efficient aircraft in the near future. The rise in tourism and the growth in disposable income of people is also projected to increase air traffic in the coming years, reflecting positively on the global market for commercial aircraft, reports the study.

Delayed Deliveries due to Ramp-up in Aircraft Manufacturing May Hamper Market's Growth

While the global commercial aircraft market is projected to rise steadily, the delayed deliveries due to the ramp-up in aircraft manufacturing and, consecutively, in the overall supply chain may hamper the growth of this market to some extent. However, the increasing focus of companies towards diversifying aviation fuel supply is anticipated to create new opportunities for aircraft manufacturers.

The study presented here is based on a report by Transparency Market Research (TMR) titled "Commercial Aircraft Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019."