Global Commercial Aircraft Market Forecast 2023-2032: Estimated Market Size And Growth Rate
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Commercial Aircraft Global Market Report 2023, the worldwide commercial aircraft market is set to increase from $173.36 billion in 2022 to $177.25 billion in 2023, with a 2.2% CAGR. By 2027, it’s projected to reach $240.43 billion, growing at a 7.9% CAGR.
North America held the largest commercial aircraft market share and was the fastest-growing region in 2022.
Commercial Aircraft Market Driver
Expanding legal permissions for commercial drone usage offers new revenue opportunities for aircraft manufacturers. The US Federal Aviation Authority, for instance, eased drone regulations, eliminating costly and time-consuming waivers, thus promoting commercial drone adoption. This regulatory shift is anticipated to boost the commercial drone market worldwide as other countries align with FAA rules. Coupled with the introduction of robust commercial drones like those from DJI, and public drone sales, this is expected to accelerate growth in the commercial aircraft manufacturing market’s drone segment.
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Key Commercial Aircraft Market Segments
The global commercial aircraft market is segmented –
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
Commercial Aircraft Market Prominent Players
Major players in the commercial aircraft market are Airbus Group SE, Raytheon Technologies Corporation, The Boeing Company, General Electric Company, General Dynamics, Safran SA, Northrop Grumman Corp, Lockheed Martin Corporation, IHI Corp, and Bombardier Inc.
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Prominent Commercial Aircraft Market Trend
Aircraft makers employ AI and machine learning to enhance safety, quality, and manufacturing efficiency. These algorithms gather data from machine and human interfaces, facilitating informed decisions through data analysis. Such technologies streamline production and cut expenses. GE Aviation, for instance, employs machine learning for engine fault detection, extending component life and reducing maintenance expenses. Boeing utilizes machine learning algorithms for aircraft design and factory automation.
The Commercial Aircraft Global Market Report 2023 provides comprehensive insights on the commercial aircraft market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the commercial aircraft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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