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Aviation Market Size, Share, Growth & Industry Trends [2031]
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Aviation Market Size, Share, Growth & Industry Trends [2031]

Segments - Aviation Market by Type (Commercial Aviation, Military Aviation, and General Aviation) and Geography (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Raksha Sharma
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Fact-checked by : Indranil Bose
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Editor : Shruti Bhat

Upcoming | Report ID :AD-1158 | 4.5 Rating | 83 Reviews | 166 Pages | Format : PDF Excel PPT

Report Description


The aviation market size was valued at USD 196.47 billion in 2022 and is projected to reach USD 379.85 billion by 2031, expanding at a CAGR of 7.6% during the forecast period, 2023 – 2031. The growth of the market is attributed to globalization, rising population and increased demand for air travel.

The aviation market encloses the sales of rotary-wing and fixed-wing aircraft across the military, commercial, and general aviation sectors. The market offers an overview of variation in defense spending, air passenger traffic, aircraft orders and deliveries, the introduction of new routes, and investments by major countries into the aviation sector.

Aviation Market Outlook

The Covid-19 pandemic had an adverse impact on the aviation market. The commercial sector, passenger traffic plummeted drastically in 2020, and it is expected to take 2-3 years to recover completely.

The airlines' subsequent losses have resulted in the cancellation or deferral of aircraft orders, thereby reducing the demand; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.

  • Globalisation and rising population are expected to create lucrative opportunities to boost the market during the forecast period

  • The newer generation aircraft offer better fuel efficiency and safety for commercial and general aviation customers and better situational awareness and tactical advantage for military customers are the key factors propelling the market growth.

  • high jet fuel prices and sluggish economic growth are anticipated to impede the market in coming years

  • R&D investment and technological advancement in aviation market are expected to offer lucrative opportunities for the market players.

Scope of the Report

The report on aviation market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Aviation Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Type (Commercial Aviation, Military Aviation, and General Aviation)

Geography

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

The Boeing Company, Airbus SE, Lockheed Martin Corporation, Textron Inc., and Embraer S.A

Market Segment insights

The commercial aviation segment is projected to constitute a large market share

Based on type, the aviation market is segregated into commercial aviation, military aviation, and general aviation.

The commercial aviation segment is expected to account for a key share of the market during the forecast period owing to major commercial aircraft OEMs, like Airbus and Boeing, are currently increasing their aircraft production and delivery rates; however, military aviation segment is anticipated to expand at a rapid pace during the forecast period owing to increased demand for cargo operations, forcing several freighter operators to create new aircraft.

Aviation Market Type

Asia Pacific is expected to dominate the market

In terms of geography, the market is broadly classified into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is anticipated to expand at a robust CAGR during the forecast period.

Increased demand for air travel in these countries is expected to drive the market growth in near future. Furthermore, the governments are modernizing their aircraft fleets due to the growth in territorial disputes and instability in the region.

Aviation Market Region

Segments

The aviation market has been segmented on the basis of:-

Type

  • Commercial Aviation
  • Military Aviation
  • General Aviation

Geography

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Companies

  • The Boeing Company
  • Airbus SE
  • Lockheed Martin Corporation
  • Textron Inc.
  • Embraer S.A

Competitive Landscape

Key players competing in the aviation market include The Boeing Company, Airbus SE, Lockheed Martin Corporation, Textron Inc., and Embraer S.A.

Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance,

  • In January 2021, FedEx Express declared an order for 12 Boeing 767 freighters and 12 Boeing 777 freighters. The total value of the order is USD 6.6 billion at list prices.

  • In June 2020, the US Civil Air Patrol (CAP) declared that it had selected Textron Aviation to provide 17 Cessna piston engine aircraft consisting of 11 Skyhawk 172S, five Skylane 182T, and one Turbo Stationair HD T206HD aircraft. The aircraft is supposed to be used for disaster relief, search and rescue, and homeland security missions and others.

  • In April 2020, Lockheed Martin declared that it was awarded a USD 4.7 billion contract modification for 78 F-35 Lightning II Joint Strike Fighters. The contract includes 48 conventional takeoff and landing F-35As for the US Air Force, 14 short takeoff and vertical landing F-35Bs for the Marine Corps, and 16 carrier-borne F-35C stealth fighters.

    Aviation Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Aviation Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Aviation Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Aviation Market - Supply Chain
  4.5. Global Aviation Market Forecast
     4.5.1. Aviation Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Aviation Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Aviation Market Absolute $ Opportunity
5. Global Aviation Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Aviation Market Size and Volume Forecast by Types
     5.3.1. Commercial Aviation Military Aviation General Aviation
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Aviation Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Aviation Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Aviation Demand Share Forecast, 2019-2026
7. North America Aviation Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Aviation Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Aviation Market Size and Volume Forecast by Types
     7.4.1. Commercial Aviation Military Aviation General Aviation
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Aviation Demand Share Forecast, 2019-2026
8. Latin America Aviation Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Aviation Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Aviation Market Size and Volume Forecast by Types
     8.4.1. Commercial Aviation Military Aviation General Aviation
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Aviation Demand Share Forecast, 2019-2026
9. Europe Aviation Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Aviation Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Aviation Market Size and Volume Forecast by Types
     9.4.1. Commercial Aviation Military Aviation General Aviation
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Aviation Demand Share Forecast, 2019-2026
10. Asia Pacific Aviation Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Aviation Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Aviation Market Size and Volume Forecast by Types
     10.4.1. Commercial Aviation Military Aviation General Aviation
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Aviation Demand Share Forecast, 2019-2026
11. Middle East & Africa Aviation Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Aviation Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Aviation Market Size and Volume Forecast by Types
     11.4.1. Commercial Aviation Military Aviation General Aviation
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Aviation Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Aviation Market: Market Share Analysis
  12.2. Aviation Distributors and Customers
  12.3. Aviation Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. The Boeing Company Airbus SE Lockheed Martin Corporation Textron Inc.  

Methodology

Our Clients

FedEx Logistics
General Mills
Pfizer
Nestle SA
The John Holland Group
General Electric
Honda Motor Co. Ltd.
Siemens Healthcare