The Passenger Aircrafts Market Is Estimated To Reach $103.61 Billion By 2027 At A CAGR Of 6.6% – Passenger Aircrafts Market Demand
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The increase in global tourism are expected to drive innovation in passenger aircrafts manufacturing, thus driving the market during the forecast period.
The global passenger aircrafts market is expected to grow from $79.14 billion in 2022 to $80.31 billion in 2023 at a compound annual growth rate (CAGR) of 1.5%. The global passenger aircrafts market size is expected to grow to $103.61 billion in 2027 at a CAGR of 6.6%.
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- By Type: Single-Aisle Aircraft, Twin-Aisle Aircraft, Regional Jets, Business Jets
- By Aircraft Type: Fixed-Wing Aircraft, Rotorcraft
- By Engine Type: Turbofan, Turboprop, Turboshaft
- By Carrier Type: Full-Service Carrier, Low-Cost Carrier
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global passenger aircrafts market in 2021.
Major Market Players in the passenger aircrafts market include The Boeing Company, Airbus SE, Embraer SA, Bombardier, Textron, Dassault Aviation, Piaggio Aero Industries, Pilatus Aircraft Ltd., Avions de transport regional.
The integration of blockchain technology into the aerospace sector is a key trend gaining popularity in the passenger aircraft market. Aerospace companies of all sizes and types understand that blockchain networks can enhance their activities and exchange information securely across multiple realms and touchpoints, from the airline ticket counter to the flight line. For instance, in February 2020, SITA, a Switzerland-based company that provides IT and telecommunication services to the air transport industry, launched a blockchain consortium to support the aviation industry in tracking aircraft components. The new consortium will be responsible for the servicing, repair, and overhaul (MRO) of aircraft components. PricewaterhouseCoopers (PWC), a USA-based professional services firm, reports that the use of blockchain could raise revenue in the aviation industry by as much as 4%, or US$ 40 billion, thus reducing MRO costs by about 5% or US$ 3.5 billion globally.
The Passenger Aircrafts Global Market Report 2023 provides a passenger aircrafts market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The passenger aircrafts market forecast analyzes passenger aircrafts market size, passenger aircrafts market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
A passenger aircraft is a type of commercial aircraft used to transport people from one place to another. The passenger aircraft include components such as a wing system, tail surfaces, movable surfaces, and a power plant. Passenger aircraft are mostly operated by airlines.
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