According to Facts and Factors Market Research, the global aircraft manufacturing market in 2019 was above USD 550 billion. The market is expected to grow around a CAGR of 9% and is anticipated to reach over USD 850 billion by 2026.
Aircraft manufacturing includes the manufacturing of engines of different aircraft, space vehicles, guided missiles, propulsion units, etc. Along with these aircraft, the aircraft manufacturing industry also manufactures structures of correlated aircraft. Aviation is the science-technology, economic, and transportation practice that studies and examines planes, objects that are heavier than the air that uses internal propulsion, and aerodynamic architecture to travel through the air. Aircraft development includes various products such as hardware, flight software, turbine, wings, seats, etc. The aircraft industry includes the manufacturing of aircraft along with the manufacturing of aircrafts parts and their maintenance. This production is done according to the standard issued by government bodies.
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Top Market Players
- Cessna Aircraft Company
- Embraer
- United Aircraft Corporation
- Boeing
- Bombardier
- COMAC
- Honeywell
- Airbus
- Safran Group
- Pilatus Business AircraftLtd
- Piaggio America Inc.
- Hawker Beechcraft Corp.
- Gulfstream Aerospace
- Dassault Falcon
The increasing use of aircraft for military aviation and civil aviation, economic growth in the developed and developing countries, increase in per capita income may drive the aircraft market, in turn, may fuel the aircraft manufacturing market over the forecast period. Owing to the rising disposable income the number of passengers traveling by civil aircraft is also increased, this produces a positive impact on the growth of the aircraft manufacturing market. The rise in the travel and tourism industry, increasing investment in defense aircraft is expected to propel the market growth. However, the economic downturn, growing unemployment can negatively impact market growth. Initially, the manufacturing of aircraft needs high investment that may hamper the growth of the market. On the other hand, technological advancement in the manufacturing of aircraft, rise in the R&D activities, and growing use of cargo aircraft by the E-commerce industry is anticipated to offer significant growth opportunities in the market during the forthcoming years.
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By type segmentation, the passenger aircraft category is expected to contribute the largest market share in the global aircraft manufacturing market attributed to the increasing number of passengers coupled with the growth in the travel and tourism industry. Unmanned aerial vehicles & drones are also expected a boom during the forthcoming years owing to the use of these aircraft for various purposes in the defense sector. On the basis of the application segment, the civil category led the market in 2019 and it is anticipated to grow in the future years attributed to growing consumer spending on air travel, and the rising number of business travelers.
The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the aircraft manufacturing sector. Key strategic developments in the aircraft manufacturing market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the aircraft manufacturing market are appropriately highlighted in the report.
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The aircraft manufacturing market research report delivers an acute valuation and taxonomy of the aircraft manufacturing industry by practically splitting the market on the basis of different types, category, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
By geography, in 2019, North America dominated the market and it is projected to witness the highest market share attributed to the increasing R&D activities to improve the production and adoption of advanced technology. Europe is also anticipated to share the highest market growth during the forthcoming years.
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This report segments the aircraft manufacturing market as follows:
Global Aircraft Manufacturing Market: By Type Segmentation Analysis
- Gliders
- Helicopters
- Ultra-Light Aircraft
- Passenger Aircraft
- UAV & Drones
- Military Aircrafts
- Airships and Others
Global Aircraft Manufacturing Market: By Application Segmentation Analysis
- Military & Defense
- Civil
- Commercial and Others
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