Commercial aircraft market is estimated to value US$164.3 Billion in 2017, which is expected to grow at a CAGR of 3.58% to value US$233.4 Billion by 2027.
The cumulative market for global expenditure on commercial aircraft is estimated at US$2.2 Trillion over the forecast period. The expenditure on commercial aircraft is expected to be driven by the increase in low cost carriers, and the need to meet air passenger traffic to fuel new commercial aircraft procurement.
In terms of segments, single-aisle and twin-aisle aircraft are expected to account for 50.8% and 42.1% of the commercial aircraft market respectively, followed by regional and cargo jets with a cumulative share of 6.0%. The business jets will account for the remaining 1.1% share of the total commercial aircraft market. The single-aisle aircraft segment is likely to grow at a CAGR of 4.83% during the forecast period. An increase in the middle class is expected to drive the growth of air travel in the Asia-Pacific region.
China, Indonesia, and India are the three major countries that are expected to procure more single-aisle aircraft compared to other Asia-Pacific countries.
Furthermore, a significant portion of the active fleet needs replacement in the coming years. This is owing to the age, requirement of maintenance activities, the overall industry and market environment, and relative airplane economics that are expected to drive the commercial aircraft market during the forecast period.
Commercial aircraft market is expected to be led by Asia-Pacific region, with an estimated share of 34.5% over the forecast period, followed by North America and Europe with shares of 27.5% and 17.6% respectively. The Middle Eastern market for commercial aircraft is expected to account for a share of 13.3%, followed by the Latin American and African markets with a cumulative share of 7.2%.
- The Boeing Company
- Airbus S.A.S
- Commercial Aircraft Corporation of China Ltd.
- United Aircraft Corporation
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