PORTLAND, OR, April 14, 2023 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, worldwide Aircraft manufacturing market $296.6 billion was generated in 2021, and is estimated to reach $476.4 billion by 2031, witnessing a CAGR of 5% from 2022 to 2031. The report provides detailed analysis of market trends, top segments, key investment regions, landscape chains, change. , and competitive landscape. The report is a useful source of information for leading market players, new entrants, investors and stakeholders to formulate future strategies and take steps to strengthen their position in the market.
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Aircraft Manufacturers Market Report Coverage and Details:
|Market size in 2021||$296.6 billion|
|Market size in 2031||$476.4 billion|
|Number of pages in the report||300|
|Sections covered||Aircraft type, application and area|
|Drivers||Favorable initiative of Govt|
|Demand for air travel has increased|
|Technological advances in aircraft manufacturing|
|opportunities||With the increase in trade between nations and the rise of LCC (Low Cost Carriers) the demand for cargo services is soaring|
|Restrictions||High production costs and environmental regulations|
- The outbreak of the Covid-19 pandemic has had a negative impact on the growth of the aircraft manufacturing market.
- The aviation industry was one of the worst affected sectors as there were travel restrictions, border closures, and declining demand for air travel, leading to a sharp decline in orders for new aircraft. Many airlines postponed or canceled plans to upgrade their fleets.
- As a result, major aircraft manufacturers such as Boeing and Airbus faced challenges such as disruptions to their supply chains, product lines and revenues.
- After the epidemic, the market has improved.
The report provides detailed segmentation of the global aircraft manufacturing market based on aircraft type, application and region. The report provides analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants to determine the sub-segments to achieve growth in the coming years.
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Based on aircraft type, the passenger aircraft segment accounted for the largest share in 2021, accounting for nearly two-fifths of the global aircraft manufacturing market and would dominate the market in terms of revenue by 2031. The military aircraft segment, however, is speculative. Witness the fastest CAGR of 7.2% during the forecast period. The report also discusses the helicopter and commercial aircraft segments.
In terms of application, the military and defense segment captured the largest market share of nearly half of the global aircraft manufacturing market in 2021 and is expected to lead the trail during the forecast period. However, the other segment is likely to achieve the fastest CAGR of 7.1% by 2031. The report also discusses the civilian and cargo segments.
By region, the North American market was the largest in 2021, accounting for nearly one-third of the global aircraft manufacturing market and is likely to maintain its dominance over the forecast period. However, the market in LAMEA is expected to reveal the highest CAGR of 7.0% from 2022 to 2031. Other regions analyzed in the study include Asia-Pacific and Europe.
Major players in the global aircraft manufacturing market analyzed in the research include Airbus, Commercial Aircraft Corporation of China, Ltd., Lockheed Martin Corporation, Embraer, Dassault Aviation, Textron Inc., Boeing, Leonardo S.p.A., General Dynamics Corporation, and Raytheon Technology Corporation. .
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The report analyzes these key players in the global aircraft manufacturing market. These players have adopted various strategies such as expansions, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining business performance, operating segments, product portfolio, and development by each market player.
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