|Market Size in 2022||Market Forecast in 2030||CAGR (in %)||Base Year|
|USD 842.71 Billion||USD 1631.25 Billion||8.62%||2022|
Civil Aviation Market
The global Civil Aviation Market size was worth around USD 842.71 Billion in 2022 and is predicted to grow to around USD 1631.25 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 8.62% between 2023 and 2030.
The civil aviation sector deals with the aircraft and flights used for business and personal purposes like transporting passengers and goods instead of military activities. Civil aviation is a major segment representing non-military aviation. The advent of major aircraft OEMs like Boeing and Airbus is offering a positive outlook for the civil aviation sector.
The outbreak of the Covid-19 pandemic has drastically impacted the whole aviation sector. However, the civil aviation sector, in particular, has confronted significant losses due to the Covid-19 norms and travel restrictions all across the globe. But, the industry is expecting to witness a good recovery phase in the coming quarters. Many airline vendors and operators have to hold their operations and put their fleets on the ground. In fact, few grounded fleets of prominent airline vendors did not even return to operation.
For instance, American Airlines retired its many fleets, including A330-300, E190, 757, and 767, in May 2020, due to the drop in passenger traffic. However, to address such challenges and overcome the obstacles, the airline vendors are adopting several preventive measures like installing advanced efficiency particulate air (HEPA) filters along with regular sanitization of cabins to ensure safety, which in turn will also accentuate the growth of the global civil aviation industry market. Previously, airlines relied on the historical database to analyze future demand and take strategic decisions regarding the pricing of tickets and several others. But, in the wake of the coronavirus pandemic, airlines are advancing their data models to forecast the demand for specific routes.
Simultaneously, the airport authorities and operators are also implementing various solutions based on advanced technologies like the internet of things to offer contactless services to their customers. However, the prominent area where airlines are likely to fuel the implementation of these technologies includes contactless security, check-out & check-in services, thermal screening, baggage handling, in-flight entertainment, and several others. The business travel segment is considered the prominent source of income for the sector. The widening geographical outreach is steering the demand for business air travel. But, the frequency of business meetings is drastically reduced. However, domestic air operations are likely to recover in the near future due to the relaxation of the travel restrictions along domestic routes. Also, several initiatives are adopted by the government to boost economic growth; thereby, it is expected to pump up the growth rate of the global civil aviation industry market.
The global civil aviation industry market can be segmented into application, type, and region.
By application, the market can be segmented into personal and commercial.
By type, the market can be segmented into a business jet, turboprops, piston fixed-wing, helicopters, and others. The business jet segment accounts for the largest share in the global market due to the growing globalization and business meeting travels.
Asia Pacific accounts for the largest share in the global civil aviation industry market as growing economies in the region like India have emerged as a leading country in the civil aviation sector. However, the pandemic has drastically tolled the regional market, but passenger traffic is likely to witness a gradual recovery due to the ease of domestic travel restrictions. Also, the airline operators in the regions are effectively transforming their operational strategies to carry the uneven and fluctuating air travel demand.
However, the regional government is making several efforts to help the sector and offer speedy recovery by facilitating financial assistance essential for operations. Philippines, Malaysia, Indonesia, Japan, Sri Lanka, and India are some of the prominent countries in the region where the government is actively offering financial support and, in addition, also implementing supportive regulations to propel the sector. Also, China is planning for the indigenous development of commercial aircraft. Therefore, it is expected to develop wide and narrow-body commercial aircraft and others indigenously, which in turn will exponentially scale up the growth of the regional market.
However, Europe is likely to witness a significant growth rate in forthcoming years owing to the fact that Spain, France, Germany, and the UK are among the prominent aviation markets in the region. The demand for air travel is continuously surging due to the plummeting regulations and relaxing quarantine rules. Above all, the speedy economic recovery and effective vaccine campaigns are also encouraging regional market growth.
|Report Attributes||Report Details|
|Report Name||Civil Aviation Market Size Report|
|Market Size in 2022||USD 842.71 Billion|
|Market Forecast in 2030||USD 1631.25 Billion|
|Growth Rate||CAGR of 8.62%|
|Number of Pages||188|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||Southwest Airlines, Norwegian, AirAsia, Emirates, Qatar Airways, Delta Airlines, Air India, and American Airlines.|
|Segments Covered||By Application, By Type, and By Region|
|Historical Year||2017 to 2021|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
What Reports Provides
The outbreak of the Covid-19 pandemic has drastically impacted the whole aviation sector. However, the civil aviation sector, in particular, has confronted significant losses due to the Covid-19 norms and travel restrictions all across the globe. But, the industry is expecting to witness a good recovery phase in the coming quarters.
Some of the significant players in the global COVID-19 impact on the civil aviation industry market are Southwest Airlines, Norwegian, AirAsia, Emirates, Qatar Airways, Delta Airlines, Air India, and American Airlines.
Asia Pacific accounts for the largest share in the global COVID-19 impact on the civil aviation industry market as growing economies in the region like India have emerged as a leading country in the civil aviation sector. However, the pandemic has drastically tolled the regional market, but passenger traffic is likely to witness a gradual recovery due to the ease of domestic travel restrictions.