Aircraft Manufacturing Market to Reach $596.47 Billion by 2029 with 5.8% CAGR
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The Business Research Company’s Aircraft Manufacturing Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034
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What Is The Aircraft Manufacturing Market Size And Growth?
The airplane production industry has seen robust expansion in the preceding years. The market value, which stands at $451.77 billion in 2024, is set to swell to $475.69 billion in 2025, displaying a compound annual growth rate (CAGR) of 5.3%. Factors such as increased commercial aviation, global spread of air transportation, renewal cycles, the emergence of economical carriers, and environmental norms have contributed to the growth experienced in the past.
Anticipations are high for the aircraft manufacturing industry, which is projected to experience robust growth over the coming years. The market is set to balloon to a worth of $596.47 billion by 2029, augmenting at a compound annual growth rate (CAGR) of 5.8%. The progression in the forecast can be allied to factors such as the requirement for sustainable aviation, accelerated growth in emerging markets, urban air mobility (am), strategic partnerships and global collaborations, and an emphasis on enhancing passenger experience. Noteworthy developments in the forecast period consist of digitalization and industry 4.0, innovation in tech for electric and hybrid aircraft, technological breakthroughs, amplified demand for fuel-efficient aircraft, an expanding marketplace for electric and hybrid aircraft, and the incorporation of innovative avionics and connectivity.
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What Are The Current Leading Growth Drivers For Aircraft Manufacturing Market?
The growth of the aircraft manufacturing sector is predicted to be accelerated by the rising number of air travelers. The measure of air passenger traffic is determined by the quantity of passengers transported by airlines or airports over a specific duration. It's an indicative factor of the need for air transportation and can be swayed by the economy, individual preferences, travel constraints, and competition among airlines. Due to escalating demand for air travel and heightened passenger traffic, the aircraft manufacturing industry has had the chance to expand. This is because airlines need more planes to grow their fleet and provide new routes and services, thereby boosting the need for new aircraft orders. For instance, the International Air Transport Association, a Canada-based Trade association, reported in January 2024 that traffic had surged by 41.6% in 2023 in comparison with 2022. By December 2023, international traffic saw an increase of 24.2% compared to December 2022. Hence, the growth in the aircraft manufacturing sector is projected to be driven by increased air passenger traffic.
Which Companies Are Currently Leading In The Aircraft Manufacturing Market?
Major players in the Aircraft Manufacturing Global Market Report 2025 include:
• The Boeing Company
• Lockheed Martin Corporation
• Airbus SE
• General Dynamics Corporation
• Northrop Grumman Corporation
• BAE Systems plc
• Leonardo S.p.A.
• Textron Aviation Inc.
• Kawasaki Heavy Industries Aerospace Company
• Commercial Aircraft Corporation of China Ltd. (COMAC)
What Are The Main Trends, Positively Impacting The Growth Of Aircraft Manufacturing Market?
Leading manufacturers in the aircraft production market are concentrating on introducing innovative solutions like electric aircraft manufacturing facilities to stay competitive. Electric aircraft, powered by electric propulsion systems, use electric motors for thrust. For example, Beta Technologies, an American aerospace firm, opened an avant-garde electric aircraft manufacturing plant at Patrick Leahy Burlington International Airport in October 2023. This 188,500-square-foot establishment, designed with a net-zero principle and outfitted with sustainable technology, will produce BETA’s fully electric aircraft line consisting of the ALIA CTOL and ALIA VTOL, aiming at both military and commercial sectors. The factory's eco-friendly attributes comprise geothermal wells, solar panels mounted on the roof, and an emphasis on efficiency and people-friendly design. BETA has a balanced production strategy entailing vertical integration and alliances with leading aerospace suppliers, with the goal of manufacturing about 300 aircraft per year.
How Is The Aircraft Manufacturing Market Segmented?
The aircraft manufacturing market covered in this report is segmented –
1) By Product: Gliders, Helicopters, Ultra-Light, Passenger, Unmanned Aerial Vehicles and Drones, Blimps (Airship)
2) By Aircraft Type: Freighter Aircraft, Passenger Aircraft
3) By Application: Military And Defense, Civil, Commercial (Freight), Other Applications
Subsegments:
1) By Gliders: Sailplanes, Motor Gliders, Thermal Gliders
2) By Helicopters: Light Helicopters, Medium Helicopters, Heavy Lift Helicopters, Military Helicopters
3) By Ultra-Light: Fixed-Wing Ultra-Light Aircraft, Powered Paragliders, Trikes and Powered Hang Gliders
4) By Passenger Aircraft: Regional Jets, Narrow-Body Aircraft, Wide-Body Aircraft, Business Jets
5) By Unmanned Aerial Vehicles and Drones: Fixed-Wing Drones, Multi-Rotor Drones, Hybrid Drones, Military UAVs
6) By Blimps (Airship): Rigid Airships, Semi-Rigid Airships, Non-Rigid Airships (Blimps), Advertising and Surveillance Airships
View the full aircraft manufacturing market report:
https://www.thebusinessresearchcompany.com/report/aircraft-manufacturing-global-market-report
Which Is The Dominating Region For The Aircraft Manufacturing Market?
In 2024, the aircraft manufacturing market was dominated by North America, which held the largest share. The report anticipates that the Asia-Pacific region will witness the fastest growth in this market during the forecast period. The report encompasses a thorough analysis of various regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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