Global Commercial Aircraft market was valued over USD 99 Billion in 2020 and is expected to grow at a CAGR of over 8.89%, in value terms, over the next five years, on the back of declining aviation turbine fuel prices, and economic growth all around the world. Aviation turbine fuel prices accounts for around 20% of an airline’s operating expenses, decrease in the aviation turbine fuel prices has elevated the usage and demand for commercial aircrafts around the world. The decrease in operating expenses of the airlines is making the airlines to invest more back into the commercial aircrafts and grow their operations in even more countries. Thus, growing airline operations across the world and increasing flight hours of the airlines is pushing the airlines to add more commercial aircrafts in their fleet. The growing commercial aircraft fleet of the countries is driving the Commercial Aircraft Market around the world. Expanding global economy and the increasing per capita income is making the air travel more affordable for the common people and is driving the usage of more passenger aircrafts around the world. Moreover, the growing number of businesses around the world is increasing the demand for freight transportation, as a result to meet the increasing demand air freight carrier companies are investing more to increase their freighter aircrafts fleet. The growing business has sparked the sales of freighter aircrafts all around the world and the same is expected to continue globally during the forthcoming years as well. Continuously improving airport infrastructure, connecting remote and mountainous regions globally, is increasing the usage of regional aircrafts, as a result more airlines are emerging and increasing the number of regional aircrafts in their commercial aircraft fleet. Continuously increasing number of regional aircrafts all around the world is driving the Global Commercial Aircraft Market. Keeping passenger safety concern in mind, in recent years the major commercial airlines of the countries all around the world have increased their rate of replacements of their existing commercial aircraft fleet, which has increased the sales of commercial aircraft across the globe.
The COVID-19 pandemic has adversely impacted the Commercial Aircraft Market, airlines had to stop their operations in most of the countries.Due to ceased commercial aircraft operations most airlines had either cancelled their commercial aircrafts orders or postponed their orders.
From 2021, the market is showing positive signs and the passenger air travel is estimated to recover in the next 3 years. Globally, The Boeing Company and the Airbus Group are the market leaders in the Commercial aircraft market with narrow body commercial aircraft and wide body commercial aircraft segment accounting for over 90% of commercial aircraft sales, globally.
Some of the other major players operating globally in commercial aircraft market are Bombardier Inc, Embraer S.A., Commercial Aircraft Corporation of China (COMAC), Avions de transport (ATR), Aviation Industry Corporation of China (AVIC), Textron Aviation Inc., United Aircraft Corporation (UCA), and Mitsubishi Aircraft Corporation.