Aircraft Manufacturing Global Market Report 2023
Major players in the aircraft manufacturing market are Airbus SE, The Boeing Company, Bombardier Inc., Cessna Aircraft Company, The Commercial Aircraft Corporation of China Ltd., Dassault Aviation SA, Gulfstream Aerospace Corporation, Hawker Beechcraft Corporation, Piaggio America Inc.
New York, June 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aircraft Manufacturing Global Market Report 2023" - https://www.reportlinker.com/p05376903/?utm_source=GNW
, Pilatus Aircraft Ltd., United Aircraft Corporation, Lockheed Martin Corporation, Leonardo S p A, Embraer S A, and Textron Inc.
The global aircraft manufacturing market is expected to grow from $409.17 billion in 2022 to $435.77 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aircraft manufacturing market is expected to reach $539.56 billion in 2027 at a CAGR of 5.5%.
The aircraft manufacturing market consists of sales of cargo plane, military plane, and jet aircraft.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Aircraft manufacturing is the process of designing, developing, and producing aircraft, involving a range of activities from engineering and design to assembly and testing. An aircraft machine designed for air travel can transport people or cargo, such as airplanes, jets, helicopters, and other aerial vehicles.
North America was the largest region in the aircraft manufacturing market in 2022.Asia-pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in aircraft manufacturing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main aircraft manufacturing product types are gliders, helicopters, ultra-light, passenger, unmanned aerial vehicles and drones, and blimps (airship).Gliders are unpowered aircraft that are designed to fly without the use of an engine.
The various aircraft types manufactured are freighter aircraft, and passenger aircraft that are used for various applications such as military and defense, civil, commercial (freight), and others.
The increasing air passenger traffic is expected to propel the growth of the aircraft manufacturing market going forward.Air passenger traffic is measured by the number of passengers carried by airlines or airports over a certain period.
It is a key indicator of demand for air travel, influenced by economic conditions, consumer preferences, travel restrictions, and airline competition.The increasing demand for air travel and rising passenger traffic has created opportunities for the aircraft manufacturing industry to grow as airlines require more aircraft to expand their fleets and offer new routes and services, which drives demand for new aircraft orders.
For instance, in December 2022, according to Eurostat’s air transport statistics, a Luxembourg-based government agency, the number of passengers transported by air increased to 373 million in 2021, up from 216 million in 2020. Therefore, the rising air passenger traffic will drive the aircraft manufacturing market going forward.
Technological advancements are a key trend gaining popularity in aircraft manufacturing market.Major companies operating in aircraft manufacturing the market is focused on developing new technological solutions to strengthen its position.
Aircraft paint plays a major role in aircraft manufacturing.For Instance, in November 2020, Lenovo Group Limited, a China-based consumer electronics company, unveiled its first self-developed industrial robot, the Morningstar industrial robot work for the manufacture of domestically made large aircraft.
It is a uniquely designed robot with Lenovo’s pioneering technologies hybrid lightweight virtualization engine and asymptotic model optimization which can accurately paint complex aircraft.It has 3D object recognition that guides the robot arm on the robot to perform tasks.
With the autonomous mode, the robot can build maps intelligently, and move without human control.
In March 2022, Textron Inc., a US-based aircraft company, acquired Pipistrel for an undisclosed amount. Through this acquisition, Textron’s aircraft portfolio expanded and took entry into the electric aviation market. The company can leverage the acquired company’s innovative technology and expertise to develop and offer electric-powered aircraft. Pipisrel d.o.o. is a Slovania-based aircraft manufacturing company that offers gliders and light aircraft with electric and combustion engines.
The countries covered in the aircraft manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The aircraft manufacturing market research report is one of a series of new reports that provides aircraft manufacturing market statistics, including aircraft manufacturing industry global market size, regional shares, competitors with a aircraft manufacturing market share, detailed aircraft manufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft manufacturing industry. This aircraft manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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