The global aircraft manufacturing market size was US$ 413.52 billion in 2021. The global aircraft manufacturing market size is forecast to reach US$ 573.44 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.7% during the forecast period from 2022 to 2030.
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Aircraft Manufacturing refers to companies involved in the design and manufacture of aircraft prototypes, the assembly of complete aircraft, and the production of aircraft. Among these are blimps, gliders, helicopters, unmanned and robotic aircraft, target drones, and ultra-light aircraft.
Factors Influencing Market Growth
The growing affluence of air travel as a result of rising per capita incomes, growing airline infrastructure investment, increasing initiatives to connect outlying cities with air hubs, and the strong demand for planes in the commercial and military & defense sectors is forecast to drive the growth of the aircraft manufacturing industry.
The growing concern over environmental pollution and the need to improve fuel efficiency is fueling the global market growth.
With the increasing technological advances to reduce manufacturing costs and improve fuel efficiency, this factor is forecast to create lucrative opportunities for the global aircraft manufacturing industry during the forecast period.
Impact Analysis of COVID-19
The spread of COVID-19 indicates a slowdown in the aircraft manufacturing market growth. Due to significant disruptions in the supply chain and the slowdown in manufacturing activities. Due to imposed trade barriers and international border closures, the manufacturing process has slowed down. These disruptions in the supply chain, lockdowns, and low consumer and corporate spending have limited aircraft manufacturing. Furthermore, reduced flight activity hindered the industry’s growth.
Although, the need for aircraft manufacturing is forecast to bounce back as nations across the globe are lifting lockdown restrictions.
Regional Insights
In 2021, North America held the highest share of global market revenue. Due to the growing demand for new generation aircraft. As a result, a major industry player will offer significant opportunities for market growth in this region. The modernization of airplane fleets and expansion plans of the airlines in the region are forecast to drive growth for the aircraft manufacturing market in the next few years. Furthermore, increased passenger traffic to & from the US is estimated to boost the market.
Asia Pacific is forecast to exhibit the highest CAGR in the aircraft manufacturing market over the forecast period. Diverse emerging markets such as India, China, Japan, and others have significantly benefited the industry. As a result of the rapid economic growth and income growth in the Asia Pacific, air travel is surging. Moreover, airlines in these emerging nations are rapidly expanding and purchasing a large number of aircraft to meet the growing demand for air travel. In addition, as nations build up their aerial combat capabilities, there is an increasing demand for military planes in the region.
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Leading Competitors
The leading prominent companies profiled in the global aircraft manufacturing market are:
Airbus SE
The Boeing Company
Bombardier Incorporated
Cessna Aircraft Company
Commercial Aircraft Corporation of China, Limited (COMAC)
Dassault Falcon
Embraer S.A.
Gulfstream Aerospace Corporation
Hawker Beechcraft Corporation
Honeywell Aerospace
Piaggio America Incorporated
Pilatus Business Aircraft Limited
Safran Group
United Aircraft Corporation
Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Aircraft Manufacturing industry experienced notable growth in its workforce. Starting in January, employment within the Aircraft Manufacturing sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Aircraft Manufacturing output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Aircraft Manufacturing output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Aircraft Manufacturing market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Aircraft Manufacturing market.
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Scope of the Report
The global aircraft manufacturing market segmentation focuses on Product, Application, and Region.
Segmentation based on Product
Gliders
Helicopters
Ultra-Light
Passenger
Unmanned aerial vehicles & drones
Blimps (Airship)
Segmentation based on Application
Military &defense
Civil
Commercial (Freight)
Others
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Aircraft Manufacturing Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Aircraft Manufacturing Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Aircraft Manufacturing Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Aircraft Manufacturing Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Aircraft Manufacturing market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Aircraft Manufacturing market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Aircraft Manufacturing business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
* Assisting businesses in gauging the viability of new or existing products or services.
* Facilitating business enterprises in the identification and cultivation of novel market segments.
* Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
* Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
* Analyzing market trends to aid businesses in devising adaptive strategies.
* Guiding businesses in the optimal placement of their products.
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