According to the study “The Global Commercial Aircraft Market 2018-2028”, the global commercial aircraft market is categorized based on type of engine such as turbofan and turboprop. On the basis of commercial aircraft components such as airframe, engine, systems, avionics, interior, and landing gear. The various types of aircrafts available in the global market are large widebody, medium widebody, small widebody, narrow body, regional jets, and business jets.Global commercial aircraft market consists of five categories such as single-aisle aircraft, twin-aisle aircraft, regional jets, cargo aircraft, and business jets. Single-aisle aircrafts segment will witness a drastic growth over the next few years, followed by twin-aisle and regional jets segments.
Commercial aircrafts are used in the transportation sector to ferry millions of passengers from one corner of the globe to the other or used in transporting huge volumes of cargo. Commercial aviation market has boomed after the Second World War with the use of modified ex-military aircrafts to transport cargo or passengers. Narrow body commercial aircrafts are spacious enough to ferry more number of passengers compared to the wide body aircrafts. The global commercial aircraft market is driven by the increasing demand for single-aisle, narrow-body aircraft and expanding projects in the commercial aircraft sector. Industrialization in the emerging economies is likely to drive the growth in global commercial aircraft market due to a huge demand for low-cost airlines. Globally, jets account for a moderate revenue share in the commercial aircraft market.
Geographically, the global commercial aircraft market is spread across Europe, North America, Asia Pacific, and Rest of the World. The leading players in the global commercial aircraft market report are The Boeing Co., Airbus SE, Embraer SA, Bombardier, Textron, Dassault Aviation, General Dynamics Corporation, Piaggio Aero Industries, Pilatus Aircraft Ltd., Avions de Transport, Embraer, Commercial Aircraft Corporation of China Ltd. (COMAC), GE Aviation (General Electric Corporation), Rolls-Royce Holdings Plc., and Pratt and Whitney (United Technologies Corporation).
Asia-Pacific and North America hold the greatest potential in the commercial aircraft market due to well-developed air infrastructure, minimal rail connectivity and a vast landscape. These factors compel the travellers to fly when they need to travel from coast to coast. The growing investments in aircraft infrastructure, initiatives to connect more number of secondary cities across all the countries, increase in air traffic, demand for low cost carriers and increase in passengers in emerging countries are the major factors driving the global commercial aircraft market. Commercial aircraft market is focussing to enhance operational efficiency by reducing fuel consumption which is encouraging more investments worldwide.
Global commercial aircraft market is expected to show a beneficial growth over the next few years due to need for availing the fastest mode of transportation, impact of globalization that leads to increased business trips, and the rapid rate of urbanization. Therefore, global commercial aircraft market will witness a steady growth over the next few years.
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Ankur Gupta, Head Marketing & Communications