Commercial Aircraft Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The commercial aircraft market was significantly impacted by the COVID-19 pandemic but is expected to fully recover and resume growth over the next five years.

LONDON, GREATER LONDON, UK, March 1, 2022 /EINPresswire.com/ -- The pandemic resulted in an unprecedented reduction in aircraft traffic and operator revenues. This in turn led to commercial aircraft orders being cancelled or postponed. The gradual return of passenger numbers and full order books at major aircraft manufacturers are expected to drive recovery and growth to 2025.

The commercial aircraft market consists of sales of commercial aircraft including helicopters, gliders and drones, aircraft parts by entities that produce civilian and commercial aircraft including helicopters, gliders and drones, aircraft parts such as aircraft turbines, aircraft engines and rocket engines for commercial purposes.

As per data from the Global Market Model, the global commercial aircraft market size showed no growth between 2015 and 2019, mainly due to decreases in the passenger aircraft market. The COVID-19 pandemic negatively affected global air traffic in 2020, due to global travel restrictions in both the commercial and tourist sectors, reducing flight activity and impacting airline cash flows. As a result, most customers decided to cancel or defer their commercial aircraft orders. Therefore, total commercial aircraft revenues fell from $215 billion in 2019 to $142 billion in 2020 and only achieved a partial recovery to $164 billion in 2021. The commercial aircraft market is expected to continue this recovery, reflecting the economic fortunes of different regions, to achieve revenues of $278 billion in 2025, at a compound annual growth rate (CAGR) of 14.1%.

Within the market, Passenger Aircraft is the dominating segment, accounting for 46.0% ($75.2 billion) of commercial aircraft revenues in 2021. Aircraft Engines, Commercial Helicopters, and Commercial Gliders and Drones are the next largest segments, with 22.0%, 16.4% and 11.9% of revenues, respectively.

In 2021, North America was the largest region in the global commercial aircraft market, accounting for 62.0% of the market. Asia Pacific and Western Europe were the second and third largest regions, accounting for 11.8% and 10.2% of the global commercial aircraft market, respectively. Eastern Europe was the smallest region in the global commercial aircraft market. Between 2021 and 2025, market growth is expected to be greatest in the established commercial aircraft markets, with double digit growth occurring in North America (CAGR of 16.4%), Asia Pacific (CAGR of 11.3%) and Western Europe (CAGR of 11.7%).

The commercial aircraft market will continue to be shaped by the impact of the pandemic during from 2021 to 2025. The decreased demand for new aircraft drove original equipment manufacturers (OEMs) to reduce their production rates in response to the pandemic. However, the large-scale backlog at aircraft OEMs is expected to recover this somewhat, and drive the commercial aircraft market. For example, at the end of 2021 both Airbus and Boeing had backlogs of approximately 7,000 and 4,000 aircraft, respectively. In addition, the need for aircraft modernization and destination expansion, coupled with the expected recovery of passenger traffic numbers by 2024, makes the outlook for the commercial aircraft industry positive.

The Commercial aircraft Global Market Report is one of a series of new reports from The Business Research Company that provides Commercial aircraft market overviews, analyzes and forecasts Commercial aircraft market size, share, Commercial aircraft market players, Commercial aircraft market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.

Here are some related reports:
Commercial Drone Global Market Report 2022
https://www.thebusinessresearchcompany.com/report/commercial-drone-global-market-report

Passenger Aircraft Global Market Report 2022
https://www.thebusinessresearchcompany.com/report/passenger-aircrafts-global-market-report

Rocket Engines Global Market Report 2022
https://www.thebusinessresearchcompany.com/report/rocket-engines-global-market-report

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