The global civil aviation market size was USD 15.2 billion in 2022 and is expected to register a revenue CAGR of 9% during the forecast period. Demand for air travel is rising as result increasing world population and rising disposable income, are major factors fueling driving market revenue growth. Revenue growth of the market has been aided by the increase in low-cost airlines. Also, need for air cargo services has been driven by rapid globalization and rising trends of international trade, which is driving revenue growth of the market.
Development of the middle class and increasing disposable income have created high demand for air travel. Revenue growth of the market has also been driven by desire for low-cost carriers. Also, movement toward rapid globalization and international trade have fueled demand for air cargo services.
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Revenue growth of the civil aviation market has been significantly influenced by technological breakthroughs. The safety, comfort, and fuel efficiency of aeroplanes have been improved by innovations such as creation of new Lightweight Materials, innovative avionics, and more effective engines, which have reduced costs and increased environmental sustainability.
Government programmes to update and modernise airports, aviation infrastructure, and air traffic control systems have also contributed to revenue growth of the civil aviation market.
However, rising fuel prices, heightened competition, and strict environmental laws are major factors, which could restrain revenue growth of the market. In a market where there is fierce competition, airline businesses must effectively control their operational costs to stay profitable. A shortage of skilled professionals, such as pilots, maintenance specialists, and air traffic controllers, is other factors, which could hamper revenue growth of the market.
Competitive Landscape:
Boeing
Airbus
Bombardier
Embraer
General Electric
Honeywell International
Rolls-Royce Holdings
The global market is further segmented into type and application:
By Aircraft Type Outlook
Regional Jets
Wide-Body
Narrow-Body Jets
By Engine Type Outlook
Turbofan
Turboprop
Piston Engines
By End-use Outlook
Commercial Airlines
Private Aviation
Military Defense
Cargo and Logistics
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
Latin America (Brazil, Rest of LATAM)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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