Aviation Market – By Type (Airborne and Ground), Application (Commercial, Business & Civil and, Military) and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Aviation Market size was valued at USD 169.72 billion in 2020 and it expected to reach USD 337.0 billion by 2030, register the CAGR of 7.10% during the forecast period. The term aviation basically refers to flying. It is a wide concept that includes various industries and components with the biggest use in aircraft and military sector. Aviation technology covers all aspects of flight training, aircraft security and, aircraft maintenance.  Every day, around 100,000 flights are estimated to transport over 10 million passengers with goods. Therefore, aviation industry is becoming an indispensable means of transport. It provides rapid worldwide transportation network, thereby generating economic growth, job opportunities and encourages trade and tourism. Digitalization and recent advancements in technology like MCP (Mobile command post), GPS based satellite navigation among others are very beneficial to the industry.

Market Segmentation:

On the basis of type, the aviation market is majorly segmented into airborne and ground. By application, the market is categorised into commercial, business & civil and, military. By region, the aviation market is classified into North America, Europe, Asia Pacific, and RoW.

Market Dynamics and Factors:

Growing modernization, increasing defense expenditure and high living standards are the major driving factors in the aviation market growth. Government initiatives like National Air Cargo Policy Outline 2019 for making Indian air cargo efficient, seamless & cost effective along with RCS (Regional Connectivity Scheme) are anticipated to positively influence the aviation market in the upcoming years. High competition among the major shareholders of market revenue such as Lockheed Martin, Boeing, Airbus, and Textron are major challenges for the aviation industry. Due to their strong hold in the aviation market for more than a decade, they are anticipated to give tough competition to their counterparts. However, innovations in the commercial and military sector, improvised aircraft design are expected to provide safety, comfort, and efficiency to the end users, thereby propelling the aviation market growth in recent years. High cost of building materials, metals and increased charges of fuel used in aviation industry are a hindrance to the market growth. However, technological advancements and government plans to encourage PPP (Public Private Partnership) are forecasted to bring new opportunities in the near future.

Geographic Analysis:

North America, is majorly dominating the aviation market, especially countries like United States is majorly contributing to improvised windshields for the Bell 525 commercial helicopter, hydrophobic coating for windows, advanced multirole fighter aircraft in the military sector. Asia Pacific is the second largest revenue contributor. Indian government is introducing “Ballooning Aviation” to promote tourism – balloon safari. Countries like China and Japan are offering low-cost material solutions and investing significantly in research & development to provide high strength and lightweight materials for construction of aeroplanes and helicopters. Europe is expected to show significant growth in the upcoming years with its increased global connectivity and replacement of aging commercial aircraft with the new generation commercial aircraft. MEA is set to show high growth rates due to investments in the aviation sector in the upcoming years.

Competitive Scenario:

Key players in the aviation market are Lee Aerospace, Llamas Plastics, Inc., GKN Aerospace, PPG Industries, Gulfstream Aerospace, Textron, Airbus, Comac, Boeing, Hindustan Aeronautics Limited (HAL).

Aviation Market Report Scope