Aerospace & aviation is a dynamic industry that is influenced by several macroeconomic indicators such as GDP, fuel price to name a few. The global aircraft manufacturing market is expected to expand ~1.5x times between 2017 and 2025, worth USD 63.82 billion by 2025. The three key macro-environment dimensions that drive airplane demand forecasts:
- The underlying demand for air travel
- The regulatory, infrastructure, and technology environment
- The strategies and products that airlines offer in the marketplace
The global aircraft manufacturing market size is anticipated to witness steady growth over the forecast period. The aircraft manufacturing industry analysis shows that the market was valued at USD 43.94 billion in 2017 and is projected to showcase healthy growth over the forecast period. Favorable economic growth across the world coupled with government support for the development of the aviation industry are some of the key factors supporting the growth of the global aircraft manufacturing market size.
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An increasing number of passengers is the key factor for increasing demand for civil aircraft. Continued strong consumer spending has bolstered air travel, and industrial production has recovered, lifting air cargo and some segments of business travel. The growth of the middle-class group coupled with rising travel & tourism is a major factor to propel the global aircraft manufacturing market size growth.
The aviation industry, since the past few years, has been performing consistently well with the increase in air traffic growth to 6% in 2017 as compared with the historic rate of 5% growth. This incredible growth rate can be attributed to factors such as the rising standard of living of consumers, especially the middle-class population from Asia Pacific, and competitive airfare prices to name a few. Also, increased spending on travel and tourism in major economies is also acting as a supplement to the growth of the aerospace industry.
In addition to air travel demand fundamentals, the aircraft manufacturing industry is also shaped by factors such as the regulatory environment, infrastructure requirements, and technology development. Several key elements in this arena are market liberalization, airport infrastructure development, and environmental regulations. Evolving airline business strategies and product offerings are bringing more value to travelers in numerous ways. These developments have increased consumer inclination as they now have to pay for only the services they want. An analysis of the above factors has led us to believe that the global aircraft manufacturing market is poised to grow substantially over the next few years. An increasing number of orders for the market leaders including Airbus and Boeing with a backlog production of the next 10 years is expected to boost global aircraft manufacturing market size.
In terms of market competition, the aircraft manufacturing industry analysis is divided into aircraft manufacturers and parts & components manufacturers. The global aircraft manufacturing market share is presently dominated by top manufacturers such as Boeing and Airbus. The rise in demand for defense aircraft has also led to significant growth in sales of manufacturers such as Lockheed Martin Corporation. Strong growth trends in the global aircraft manufacturing industry are projected to be continued as the sales of these manufacturers is increasing over the years.
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Key segments of the global aircraft manufacturing market
Product Type Overview, 2013-2025 (USD Million)
- Ultra-Light aircraft
- Passenger aircraft
- Unmanned aerial vehicle & drones
- Blimps (Airship)
Application Overview, 2013-2025 (USD Million)
- Military & defense
- Commercial (Freight)
- Others (Agriculture, Experiments & prototypes)
Regional Overview, 2013-2025 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Central & South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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