Over the forecast period of 2023-2030, the market is projected to grow at a CAGR of 12.5%.

Narrow-body aircraft are well-suited for both domestic and international routes, making them the preferred choice for many carriers.

Asia-Pacific emerges as the largest region in this segment.

As a result, airlines in Asia-Pacific have been expanding their fleets to meet the increasing demand for air travel.

In terms of growth, Europe takes the lead.

This trend is driven by the need to improve operational efficiency, reduce maintenance costs, and enhance passenger comfort.

A recent report by Report Ocean forecasts the aircraft leasing market size is poised to exceed USD 453.2 billion by 2026, with a robust growth rate of 6.8% during the forecast period.

The surge in air travel rates is a primary driver propelling the demand for aircraft leasing.

Dry leasing and wet leasing represent the primary lease types, catering to the diverse needs of airlines.

Aviation is expected to take two years to recover, according to GE.

The growing demand for advanced communication and navigation systems in emerging economies is expected to provide significant growth opportunities for the market.

Additionally, the increasing use of connected aircraft for maintenance and repair is expected to drive market growth.

However, the high cost of integrating these technologies in aircraft and the limited availability of skilled personnel to operate and maintain these systems can be a major challenge for the market.

Air cargo still only accounts for 1% of global trade.

The aviation carbon fiber market is set to reach a $4.4 billion valuation by 2031.

By raw material, the PAN-based carbon fiber segment is anticipated to exhibit significant growth in the near future.

Countries such as the U.S. and Canada have the most advanced infrastructure in the commercial and military aviation industries.

These factors are expected to enhance the growth of the market during the forecast period.

Title:

Content: Friday, 08 September 2023 05:25 GMT

Global Single-Aisle Aircraft Market Is Projected To Reach The Value Of $222.20 Billion By 2030 X Herald

(MENAFN- Ameliorate Digital Consultancy) According to the latest report by Virtue Market Research, in 2022, the Global Single-Aisle Aircraft Market was valued at USD 86.6 billion and is projected to reach a market size of USD 222.20 billion by 2030. Over the forecast period of 2023-2030, the market is projected to grow at a CAGR of 12.5%.

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A prominent long-term driver for the Single-Aisle Aircraft market is the growing global demand for air travel. Even though the COVID-19 pandemic had a severe impact on the aviation industry, the long-term trend remains robust. The demand for single-aisle aircraft is fueled by several factors, including the expansion of low-cost carriers, increasing urbanization, and rising middle-class populations in emerging economies.

The COVID-19 pandemic had an unprecedented impact on the aviation sector, leading to grounded fleets, reduced passenger demand, and financial strain on airlines. This setback prompted airlines to rethink their fleet strategies, with some deferring aircraft orders and retiring older aircraft to cut costs. Additionally, the pandemic accelerated the adoption of safety and hygiene measures in aircraft cabins, leading to increased investments in cabin air filtration and touchless technologies.

A notable short-term driver for the Single-Aisle Aircraft market is the rebound in domestic and regional air travel. As countries reopen their borders and vaccination efforts progress, there is a growing preference for shorter flights, leading to increased demand for single-aisle aircraft. Airlines are reactivating grounded aircraft and placing orders for new, fuel-efficient models to meet this surge in regional travel.

An exciting opportunity in the Single-Aisle Aircraft market is the development of next-generation, fuel-efficient aircraft. With a growing emphasis on sustainability and reducing carbon emissions, aircraft manufacturers are investing in research and development to create more eco-friendly models. This includes the use of advanced materials, aerodynamic improvements, and more efficient engines. Airlines that invest in these next-gen aircraft can not only reduce their environmental footprint but also benefit from lower operating costs in the long run.

One of the prominent trends observed in the Single-Aisle Aircraft industry is the rise of digitalization and connectivity. In-flight Wi-Fi, entertainment systems, and integrated passenger services are becoming standard features in modern single-aisle aircraft. Airlines are leveraging these trends to enhance the passenger experience and gain a competitive edge. Additionally, digitalization plays a crucial role in aircraft maintenance and operations, helping airlines optimize their fleet performance and reduce downtime.

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Segmentation Analysis:

The global Single-Aisle Aircraft Market segmentation includes:

By Type of Aircraft: Narrow-Body, Wide-Body, Regional Aircraft

Among these, the Narrow-Body aircraft category stands out as the largest segment. These aircraft are designed for short to medium-haul flights and are favored by airlines for their versatility and cost-efficiency. Narrow-Body aircraft are well-suited for both domestic and international routes, making them the preferred choice for many carriers.

In terms of growth, the Narrow-Body segment takes the lead yet again. The market for Narrow-Body aircraft is witnessing significant expansion due to the increasing demand for regional and domestic travel. Airlines are looking to replace older aircraft with more fuel-efficient and environmentally friendly Narrow-Body models, driving the growth of this segment.

By Engine Type: Turbofan, Turboprop

Among these categories, Turboprop engines are the largest segment. These engines are commonly found in regional aircraft that operate shorter routes and require a different set of performance characteristics compared to their Turbofan counterparts. Turboprop engines are known for their fuel efficiency and reliability, making them a preferred choice for regional carriers.

However, when it comes to growth, Turbofan engines take the lead. The demand for Turbofan-powered Single-Aisle Aircraft is on the rise, driven by the need for higher efficiency, reduced emissions, and greater operational range. Airlines are increasingly opting for Turbofan engines in their narrow-body aircraft to meet the growing demand for longer-haul regional and international flights.

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Regional Analysis:

The Single-Aisle Aircraft market spans across variregions, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Each of these regions has its unique characteristics and influences on the market.

Asia-Pacific emerges as the largest region in this segment. This region encompasses numerfast-growing economies, a burgeoning middle class, and a robust travel and tourism industry. As a result, airlines in Asia-Pacific have been expanding their fleets to meet the increasing demand for air travel. With a foon domestic and regional routes, narrow-body aircraft have been particularly favored in this region, contributing to its leadership in the Single-Aisle Aircraft market.

In terms of growth, Europe takes the lead. Despite being a mature aviation market, Europe is experiencing a surge in demand for narrow-body aircraft, primarily due to the need for more fuel-efficient and environmentally friendly options. European airlines are increasingly looking to modernize their fleets with state-of-the-art single-aisle aircraft, thereby driving the growth of this segment in the region.

The Middle East & Africa region also shows promise in terms of growth, driven by the emergence of airlines in the Middle East as major global players. These airlines are expanding their networks and investing in modern, fuel-efficient narrow-body aircraft to meet the growing demand for long-haul travel.

North America, with its well-established aviation industry, continues to be a significant market for single-aisle aircraft. While it may not be the fastest-growing region, North America remains a stable and vital market for these aircraft, catering to both domestic and international routes.

South America, although a smaller market compared to the other regions, also contributes to the demand for single-aisle aircraft. Airlines in South America are focusing on modernizing their fleets to enhance operational efficiency and reduce emissions.

Latest Industry Developments:

  • One of the key strategies adopted by companies is a strong emphasis on fuel-efficient and environmentally friendly aircraft. With the aviation industry facing increasing pressure to reduce carbon emissions, manufacturers are investing in the development of next-generation single-aisle aircraft with improved fuel efficiency. This includes the use of advanced materials, aerodynamic design enhancements, and the incorporation of more fuel-efficient engines. Furthermore, there is a growing trend towards the electrification of aircraft systems, including electric taxiing systems and more electric aircraft architectures. These innovations aim to reduce the overall carbon footprint of single-aisle aircraft, aligning with global sustainability goals.
  • To enhance their market share, aircraft manufacturers are expanding their global reach and customer base. They are targeting emerging markets with fast-growing air travel demand, such as Asia-Pacific and the Middle East. These regions represent significant opportunities for fleet expansion, especially with narrow-body aircraft designed for short- to medium-haul routes. Another trend is fleet modernization. Airlines, particularly in mature markets like North America and Europe, are retiring older aircraft and replacing them with state-of-the-art single-aisle aircraft. This trend is driven by the need to improve operational efficiency, reduce maintenance costs, and enhance passenger comfort. Manufacturers that offer the latest technology and fuel-efficient options have a competitive advantage in this regard.
  • Connectivity and digital solutions are becoming increasingly important in the aviation industry. Airlines are seeking aircraft equipped with advanced connectivity options to enhance the passenger experience, provide in-flight entertainment, and enable seamless inteaccess. Manufacturers are responding by integrating cutting-edge connectivity solutions into their single-aisle aircraft offerings. Additionally, the use of data analytics and predictive maintenance has gained prominence. Airlines are leveraging data from their aircraft to optimize operations, reduce downtime, and lower maintenance costs. Aircraft manufacturers are incorporating these features into their products to meet the demand for data-driven solutions.

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Narrow-body aircraft are well-suited for both domestic and international routes, making them the preferred choice for many carriers.

What is Airbus doing to achieve sustainable aviation?

It is making efforts to improve aircraft efficiency.

A recent report by Report Ocean forecasts the aircraft leasing market size is poised to exceed USD 453.2 billion by 2026, with a robust growth rate of 6.8% during the forecast period.

Title:

Content: Aircraft Leasing Market Overview by Recent Opportunities, Growth Size, Regional Analysis and Forecasts to 2032

The global aviation industry is experiencing unprecedented growth, fueled by increasing air travel rates and the demand for efficient aircraft. In tandem with this growth, the aircraft leasing market has emerged as a critical component of the aviation ecosystem, providing airlines with flexible leasing options to meet their fleet requirements. A recent report by Report Ocean forecasts that the aircraft leasing market size is poised to exceed USD 453.2 billion by 2026, with a robust growth rate of 6.8% during the forecast period.

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Driving Factors Behind Market Growth

The surge in air travel rates is a primary driver propelling the demand for aircraft leasing. Airlines are opting for leasing arrangements to expand their fleets and meet the escalating demand for air travel. Aircraft leasing offers flexibility and cost-effectiveness compared to outright aircraft purchases, enabling airlines to optimize their fleet size based on fluctuating market conditions.

Aircraft leasing encompasses two primary lease types: dry lease and wet lease. In dry leasing, aircraft are leased without crew members, while wet leasing involves leasing aircraft along with trained crew, maintenance, and insurance. This flexibility allows airlines to tailor leasing agreements to their specific operational needs, further driving the adoption of aircraft leasing.

Additionally, factors such as the growth in global aviation industry, increasing regulations, demand for fuel-efficient commercial aircraft, attractive tax policies, and affordable lease rates contribute to the burgeoning aircraft leasing market. Emerging economies present significant growth opportunities for aircraft leasing, with technological advancements further enhancing the appeal of leasing options.

Regional Insights and Market Dynamics

Europe emerged as the highest revenue-generating region in the aircraft leasing industry in 2019, driven by high disposable income, advanced living standards, and the development of new aircraft. The region witnessed increasing adoption of aircraft leasing due to the operation of efficient commercial aircraft and technological advancements. However, North America is also a significant market for aircraft leasing, with well-established aviation infrastructure and a robust demand for air travel.

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Asia-Pacific is poised to exhibit substantial growth in the aircraft leasing market, propelled by countries such as China, India, and Japan. Rising air traffic, economic development, and increasing demand for air travel in the region contribute to the growing adoption of aircraft leasing. Latin America, the Middle East, and Africa also present lucrative opportunities for market players, driven by factors such as infrastructure development and tourism growth.

Competitive Landscape and Key Players

The global aircraft leasing industry is characterized by the presence of both international and small to medium-sized vendors. Leading companies such as Aviation Capital Group, Boeing Capital Corporation, Air Lease Corporation, and International Lease Finance Corporation dominate the market. These companies continually innovate and collaborate with other industry players to meet the evolving needs of consumers and launch new products to stay competitive.

Segmentation and Market Outlook

The aircraft leasing market is segmented based on lease type, aircraft type, and region. Dry leasing and wet leasing represent the primary lease types, catering to the diverse needs of airlines. Aircraft types include wide-body aircraft and narrow-body aircraft, each serving specific operational requirements. Regionally, North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa constitute the key market segments, offering insights into regional market dynamics and growth prospects.

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Future Outlook and Conclusion

In conclusion, the global aircraft leasing market is poised for significant growth driven by increasing air travel rates, demand for fuel-efficient aircraft, and favorable market conditions. As airlines seek to optimize their fleets and enhance operational efficiency, aircraft leasing emerges as a strategic solution to meet evolving market demands. With technological advancements and infrastructure development, emerging economies present lucrative opportunities for market players. As the aviation industry continues to soar to new heights, aircraft leasing remains a vital component facilitating the expansion and modernization of airline fleets worldwide.

These responses will function a complete examination of the:

  • The markets’ present-day infrastructures
  • Market possibilities and challenges
  • Future plausible for increase in particular industries
  • Major geographic and market segments to target, and end-user goal organizations and their viable operational volumes
  • Representative and a price chain probability breakdown
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  • The market’s important using forces
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  • Obstacles to market expansion.
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  • Thorough SWOT analysis
  • Threats and possibilities confronted with the aid of the modern carriers in the world market.
  • Trending elements that affect the markets in the quite a number region.
  • Initiatives with a strategic center of attention on the pinnacle vendors.
  • PEST find out about of the five essential market regions.

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Aviation is expected to take two years to recover, according to GE.

Title:

Content: English

Aviation will take 2 years to recover: GE

General Electric estimated that the recovery of the aviation industry will last two more years, depending on the containment of the Covid-19 pandemic.

Effective inoculation programs and government collaboration to encourage travel, particularly around easing quarantine requirements, will also play a role.

General Electric maintains regular dialogue with airlines and airframe customers about the outlook for commercial air travel, new aircraft production, fleet retirement and aftermarket services, including store visits and parts demand.

Given current trends, the company expects domestic travel routes served primarily by narrow-body aircraft to recover before long-haul international travel routes, which are primarily served by wide-body aircraft.

Aviation

The Covid-19 pandemic continues to have a significant adverse effect on the global airline industry, although the results of General Electric’s Aviation business in 2021 reflect an improvement in market fundamentals.

A key underlying driver of the commercial engine and services business of its Aviation business is global commercial air traffic, which in turn is driven by economic activity and the propensity of consumers and businesses to travel.

Since the start of the pandemic in the first quarter of 2020, General Electric has seen varying levels of recovery in global markets.

Government travel restrictions, public health advisories, people’s propensity to travel, and ongoing cases of the virus have affected the level of air travel.

General Electric regularly tracks global outputs, which for 2021 were about 30% lower than 2019.

Global outflows improved during 2021, up approximately 20% compared to 2020, but levels of recovery varied across regions, largely due to the emergence of variants of the Covid-19 virus.

In regards to the military environment, General Electric continues to forecast strong military demand creating future growth opportunities for its military business unit as the US Department of Defense and foreign governments have continued flight operations and have allocated budgets to upgrade and modernize their existing fleets.

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Title:

Content: Intelligence Market Report

Connected Aircraft Market Size to Reach USD 6758.8 Million in 2028, at CAGR of 9.9%, Industry Share, Growth, Latest Trend, Opportunities

Connected Aircraft Market Dynamics, Industry Overview, Segmentation, Competitive Landscape and SWOT Analysis Including Key Players - Gogo, Honeywell International, Panasonic Avionics, Thales, Global Eagle Entertainment, Rockwell Collins, Zodiac Aerospace, Inmarsat, Cobham, Bae Systems, Kontron, Viasat, Digecor

London, UK -- (SBWIRE) -- 02/09/2023 -- Connected Aircraft Market report provides an in-depth analysis of the global connected aircraft market, including market size, growth drivers, trends, and opportunities. It also provides a comprehensive overview of the competitive landscape and key players in the market.

Global Connected Aircraft Market Overview
The connected aircraft market refers to the integration of information and communication technologies in aircraft to improve flight safety, passenger comfort, and operational efficiency. The connected aircraft market is rapidly growing due to the increasing demand for real-time information and communication during flights. This has resulted in a rise in the number of connected aircraft, which are equipped with advanced communication systems, sensors, and software.

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Market Segmentation
The global connected aircraft market can be segmented based on type, application, and region. The Connected Aircraft Market Major Segments and Subsegments Listed Below

Segmentation by type
Inflight Connectivity
Air-to-Air Connectivity
Air-to-Ground Connectivity

Segmentation by application
Commercial
Military

This report splits the market by region
North America [United States, Canada]
Europe [Germany, France, U.K., Italy, Russia]
Asia-Pacific [China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia]
Latin America [Mexico, Brazil, Argentina]
Middle East & Africa [Turkey, Saudi Arabia, UAE]

Market Drivers
The primary drivers of the connected aircraft market are the increasing demand for real-time information and communication during flights, the need for improved flight safety and passenger comfort, and the growing demand for advanced communication and navigation systems in aircraft. Additionally, the increasing use of connected aircraft for military purposes is expected to fuel market growth. The increasing demand for connected aircraft in emerging economies is also expected to drive market growth.

Market Challenges
One of the biggest challenges facing the connected aircraft market is the high cost of integrating these technologies in aircraft. The cost of procurement, installation, and maintenance of connected aircraft systems can be a major barrier for airlines and other operators. Additionally, the limited availability of skilled personnel to operate and maintain these systems can also pose a challenge for market growth.

Market Opportunities
The increasing demand for connected aircraft in commercial and military applications is a major opportunity for market growth. The growing demand for advanced communication and navigation systems in emerging economies is expected to provide significant growth opportunities for the market. Additionally, the increasing use of connected aircraft for maintenance and repair is also expected to drive market growth.

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Market Leaders
Some of the leading players in the connected aircraft market includes
Gogo
Honeywell International
Panasonic Avionics
Thales
Global Eagle Entertainment
Rockwell Collins
Zodiac Aerospace
Inmarsat
Cobham
Bae Systems
Kontron
Viasat
Digecor

Conclusion
The global connected aircraft market is expected to grow rapidly in the coming years due to the increasing demand for real-time information and communication during flights, the need for improved flight safety and passenger comfort, and the growing demand for advanced communication and navigation systems in aircraft. The increasing demand for connected aircraft in emerging economies is also expected to drive market growth. However, the high cost of integrating these technologies in aircraft and the limited availability of skilled personnel to operate and maintain these systems can be a major challenge for the market.

Table of Content
1 Scope of the Report
2 Executive Summary
3 Global Connected Aircraft by Company
4 World Historic Review for Connected Aircraft by Geographic Region
5 Americas
6 APAC
7 Europe
8 Middle East & Africa
9 Market Drivers, Challenges and Trends
10 Manufacturing Cost Structure Analysis
11 Marketing, Distributors and Customer
12 World Forecast Review for Connected Aircraft by Geographic Region
13 Key Players Analysis
14 Research Findings and Conclusion

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About Us: Intelligence Market Report includes a comprehensive rundown of statistical surveying reports from many distributers around the world. We brag an information base traversing basically every market classification and a much more complete assortment of statistical surveying reports under these classifications and sub-classifications. Intelligence Market Report offers premium reformist factual looking over, statistical surveying reports, investigation and gauge information for businesses and governments all throughout the planet.

Additionally, the increasing use of connected aircraft for maintenance and repair is expected to drive market growth.

Title:

Content: Boeing cuts 20-year industrywide outlook for planes

3 minute read

Signage for Boeing is seen on a trade pavilion at Farnborough International Airshow in Farnborough, Britain, July 17, 2018. REUTERS/Toby Melville/File Photo

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LONDON, July 17 (Reuters) - U.S. airplane maker Boeing Co trimmed its projected industrywide demand for airplanes over the next 20 years, but said it expects deliveries to be stable excluding the Russian market.

Boeing projects airlines worldwide will need 41,170 new airplanes over 20 years with half of the deliveries for replacement aircraft, and with single-aisle aircraft accounting for about 75% of planes.

Boeing's new market outlook, released on Sunday ahead of the Farnborough Airshow, is down from its previous rolling 20-year-forecast of 43,610 deliveries.

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The new estimate excludes the Russian market and its projection of 1,540 airplanes, because of the war in Ukraine and uncertainty about when manufacturers could again sell planes to Russian carriers.

Boeing slightly boosted its forecast for demand over the next 10 years to 19,575 airplane deliveries -- a higher projection even excluding the Russian market.

"That's a function of a depressed environment in 2021 falling off and a new trend year in 2031 being added," Darren Hulst, Boeing vice president for commercial marketing, told reporters in a briefing ahead of the Sunday release. "It comes very close to our 2019" outlook if Russia was included.

Boeing also dropped its industrywide passenger traffic forecast growth rate slightly to 3.8% from 4%, but boosted its cargo growth forecast to 4.1% from 4% last year. It cut its fleet growth forecast to 2.8% from 3.1%. Its forecast for widebody deliveries over 20 years fell from 7,670 to 7,230.

Boeing still projects the global airline fleet by 2041 will nearly double as it still sees a worldwide aviation demand COVID-19 recovery by early 2024.

Over the next 20 years Boeing said "long-term fundamentals remain intact."

"Our view of medium-term recovery -- when the industry gets back to 2019 levels of global airline traffic -- is largely unchanged" since 2020, Hulst said. "Overall, we still see late 2023, early 2024 as the time where the industry recovers to full or at least the level of pre-pandemic traffic."

Boeing sees strong near-term demand for aircraft despite recession risks.

"The global industry is still on a recovery trajectory back to where the normal relationship of GDP and traffic would be," Hulst said. "Any small blip from an economy standpoint would be probably overwhelmed by the demand that exists as a result of those normal economic relationships."

Boeing also projects the freighter fleet will grow 80% by 2041. Air cargo is performing at "historic levels," Hulst said, saying it is in part "a function of the increasing strategic value of air cargo relative to supply chains that are challenged and shipping that is challenged."

Boeing sees e-commerce networks as helping to drive a "strategic shift to air cargo even into the medium- and long-term. ... This isn't just a blip in terms of shipping versus air."

Hulst said the number of routes with more than one airline operating has more than doubled over the last two decades -- representing 70% of all capacity. It demonstrates "the continuous innovation that airlines need to have to continue to compete at lower costs to attract more and more traffic."

Air cargo still only accounts for 1% of global trade. "A small shift in terms of mode of transportation, of key elements of trade, makes a big impact in terms of demand for air cargo," Hulst said.

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Reporting by David Shepardson; Editing by Leslie Adler

Our Standards: The Thomson Reuters Trust Principles.

The aviation carbon fiber market is set to reach a $4.4 billion valuation by 2031.

Title:

Content: Aviation Carbon Fiber Market Set to Soar: Forecasting a $4.4 Billion Valuation by 2031

aviation-carbon-fiber-market-1675064937 (2)

Aviation Carbon Fiber Market Size, Share, Competitive Landscape and Trend Analysis Report : Global Opportunity Analysis and Industry Forecast, 2021-2031

PORTLAND, PROVINCE: OREGAON, UNITED STATES, June 6, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, "Aviation Carbon Fiber Market," The aviation carbon fiber market was valued at $1.5 billion in 2021, and is estimated to reach $4.4 billion by 2031, growing at a CAGR of 11.4% from 2022 to 2031.

Asia-Pacific is expected to experience significant growth during the forecast period. China, Japan, and India are expected to remain lucrative markets in terms of increase in investment and R&D by domestic and overseas players. Increasing number of deliveries of commercial as well as general aviation aircrafts, owing to the significant growth in air traffic is a key factor driving the growth of the market in Asia-Pacific region. The region is experiencing growth in global transport with significant increase in passenger transport and air cargo market.

๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ - https://www.alliedmarketresearch.com/request-sample/A12804

In November 2021, Boeing, an American aircraft manufacturer, predicted that air travel within the Asia-Pacific region will account for almost half of the world's air travel by 2040, with 17,645 new aircraft worth $3.1 trillion over 20 years. The increase in demand for aircrafts from commercial, military, and general aviation segments is expected to drive the growth for aviation carbon fiber market share in the region.

The factors such as rapidly growing & booming aviation industry, expansion of aircraft fleets by airline operators and rising expenditure by government in the aviation sector are the primary factors expected to propel the growth of aviation carbon fiber market in China. China is expected to invest more than $80 billion in aviation projects to keep up with the increasing demand for air travel. Also, over the next 20 years, Chinese carriers are expected to expand their fleets by more than 1,500 aircraft, a number that represents 20% of the demand worldwide, which is expected to offer numerous growth opportunities for carbon fiber market during the forecast period.

On the basis of raw material, the global aviation carbon fiber market has been segmented into PAN-based carbon fiber and Pitch-based carbon fiber. The PAN-based carbon fiber accounted for a significant market share in 2021. PAN-based carbon fibers are made from a synthetic fiber called polyacrylonitrile (PAN). The manufacturing of PAN-based carbon fibers includes spinning of the PAN co-polymer to form the fibers. The constant advancement in the technology to develop PAN-based carbon fibers to manufacture aircraft bodies and parts is expected to drive the growth of the market. For instance, in December 2019, Solvay and SGL Carbon announced a collaboration to develop highly-competitive advanced carbon fiber composites for primary structures in the aerospace industry. Under this agreement, the companies aim to provide the market with the first composite materials based on large-tow intermediate modulus (IM) carbon fiber.

๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ - https://www.alliedmarketresearch.com/aviation-carbon-fiber-market/purchase-options

There has been rise in use of carbon fiber in military aviation to provide significant weight and cost reductions. Moreover, there is an increase in the use of carbon fiber to produce military aircrafts as carbon fiber reduces around 50% of the structural weight of military aircrafts. Military aircrafts require lightweight structures to provide increased payload, improved agility, short take-off, long-range missions, and high maneuverable capabilities. The weight savings allow for a wider payload range, smaller subsystems for a given level of performance, and better fuel efficiency.

The rise in the application of carbon fiber to manufacture secondary structures, control surfaces, and wing & primary fuselage structures for military aircrafts is expected to drive the growth of the market. For instance, Eurofighter Typhoon is one of the most advanced fighter jets developed by a consortium of aerospace and defense companies from countries such as UK, Germany, Italy, and Spain. Its 40% of the structural weight is carbon fiber reinforced composite material. Moreover, the American fifth-generation fighter F/A-22 uses composite materials in fuselage, wings, and tail.

๐๐๐๐๐-๐๐ ๐๐ฆ๐ฉ๐๐๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ
The outbreak of COVID-19 reduced air transport and negatively impacted the aviation industry, which significantly decreased the demand for carbon fiber. The COVID-19 pandemic severely impacted global demand for carbon fiber and its composites due to parked commercial aircrafts, domestic & international travel disruptions, and restrictions on travel activities. However, post-pandemic, strategies are being developed by governments to increase the production of locally produced carbon fiber material, supporting the growth of the market. For instance, in 2021, Hindustan Aeronautics Limited signed a memorandum of understanding with Mishra Dhatu Nigam Limited to develop and produce composite raw materials such as carbon fiber.

๐๐๐ค๐ ๐๐ง ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐  - https://www.alliedmarketresearch.com/purchase-enquiry/A12804

๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐
By raw material, the PAN-based carbon fiber segment is anticipated to exhibit significant growth in the near future.
By type, the continuous segment is anticipated to exhibit significant growth in the near future.
By end use, the military segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

๐๐๐๐๐ข๐ง๐  ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ :
Mitsubishi Chemical Group Corporation, Nippon Steel Corporation, SGL Carbon, Teijin Limited, Toray Industries, Inc., Hexcel Corporation, Solvay, Hyosung, OJSC SvetlogorskKhimvolokno, and DowAksa.

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Countries such as the U.S. and Canada have the most advanced infrastructure in the commercial and military aviation industries.

Title:

Content: NEW YORK, Sept. 13, 2021 /PRNewswire/ -- Research Dive has published a report titled, "Aerospace Avionics Market by Systems (Flight Control System, Communication System, Navigation System, Monitoring System, and Others), Application (Commercial Aviation, Military Aviation, and Business Jets & General Aviation), Distribution Channel (OEM and Aftermarket), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2028"

The Global Aerospace Avionics Market is predicted to garner a revenue of $1,18,619.0 million at a CAGR of 6.7% during the forecast period, rising from $71,362.8 million in 2020.

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Regional Analysis

North America Aerospace Avionics Market accounted for $24,192.0 million in 2020 and is further predicted to generate a revenue of $38,990.1 million by the end of 2028.  The countries such as the U.S. and Canada have the most advanced infrastructure in the commercial and military aviation industry. Apart from this, the leading players of the industry are focusing on the research and development of aerospace avionics which has increased the chances of growth and sustainability of the market. These factors are expected to enhance the market growth during the forecast period.

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Key Segments of the Market

The report has divided the market into different segments based on system, application, distribution channel, and regional analysis.

  • Systems: The flight control system sub-segment is predicted to garner a dominating revenue of $44,541.4 million in 2028, surging from $ 27,763.5 million in 2020. Demand of advanced aircraft operations in the military and commercial aviation is expected to be one of the main factors behind the growth of the market segment.
  • Application: The commercial aviation sub-segment is expected to register the highest revenue of $62,638.0 by the end of 2028, at a healthy CAGR of 7.0% during the forecast period.

The rising number of air travelers across the world is going to enhance the growth of the market segment during the forecast period.

  • Distribution Channel: The original equipment manufacturer (OEM) sub-segment is forecasted to garner a revenue of $67,910.5 million by 2028, increasing from $41,429.5 million in 2020. The growth of commercial, general, and military aviation in recent years is the main factor enhancing the growth of the market segment in upcoming years.

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Dynamics of the Market

Driver: The increasing number of air travelers has surged the demand of commercial aviation, propelling the growth of the global aerospace avionics market during the forecast period. Avionics systems such as communication systems, flight management system, navigation system, electrical, and surveillance systems are used in commercial systems. These factors are expected to enhance the growth of the market during the forecast period.

Restraint: Being highly sophisticated, the costs of commercial aircrafts are highly expensive. They require a huge investment for manufacturing, maintenance, and operations. This is expected to be the main restraining factor of the industry during the forecast period.

Opportunity: The increasing demand of military and commercial aircrafts is expected to create many opportunities for the market in upcoming years.

Key Market Players & Strategies

  1. NORTHROP GRUMMAN CORPORATION
  2. L3Harris Technologies, Inc.
  3. General Dynamics Corporation
  4. BAE Systems
  5. Thales Group
  6. Leonardo S.P.A
  7. Elbit Systems Ltd.
  8. Airbus
  9. General Electric
  10. Boeing

- Inquire and Get Quick Access to Top Companies Development Strategies Summary Report

These players are working on developing strategies such as product development, mergers and acquisitions, partnerships and collaborations to sustain the market growth.

The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and recent strategic developments.

Recent Development

In April 2021, Elbit Systems Ltd announced that its U.S. subsidiary, Elbit Systems of America, LLC, completed the acquisition of Sparton Corporation, a premier producer, developer, and supplier of systems helping Undersea Warfare for the U.S. Navy and allied military forces.

Elbit Systems expects that this acquisition will enhance its portfolio by the addition of the technological strength of Sparton to the long term strategy of the company.

Impact of COVID-19 on the Global Aerospace Avionics Market

The coronavirus outbreak has impacted the Global Aerospace Avionics Market in a negative way. Due to the restrictions imposed on the travel and tourism industry during the pandemic, the passenger demand of aircrafts has been declined. This factor resulted in the decreased demand of avionics hardware and software in the commercial aviation sector. However, with the revised and restructured business models of the industry, the global market is expected to growth after the end of the pandemic.

Access Our Comprehensive Analysis of the Impact of Covid-19 on GLOBAL AEROSPACE AVIONICS MARKET

More about Aerospace Avionics

Global Aerospace Avionics Market Is Anticipated To Generate A Revenue Of $1,18,619.0 Million, Growing At A CAGR Of 6.7% From 2021 To 2028

Global Aerospace Avionics Market Propelling with the Surging Demand of Commercial Aircrafts

How are New Technologies Going to Boom Aerospace Avionics Industry?

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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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What impact shall the carbon tax to be imposed by EU in 2026 have on aircraft market?

It is conducive to the sales of new aircraft with better fuel efficiency.