Global aircraft demand is projected to grow steadily over the next two decades, with approximately 43,000 to 45,000 new deliveries anticipated by 2040.

Single-aisle aircraft dominate this demand, accounting for around 70-75% of deliveries, driven by the rapid recovery of air travel post-pandemic and ongoing fleet renewal focused on fuel efficiency and sustainability [bf2732d0-bb7b-4e55-9d35-f1d548672746, 65a6d821-4ded-4ba5-874a-2aa5ee48ba5e].

Boeing forecasts 43,610 new aircraft deliveries over 20 years, with North America and China as the largest regional markets, receiving roughly 23% and 21% of deliveries respectively.

The global fleet is expected to grow at an annual rate of 3.1%, surpassing 49,000 aircraft by 2040.

South Asia, particularly India, is noted as the fastest-growing market, with fleet sizes expected to quadruple by 2041 driven by a 6.2% annual growth rate.

Southeast Asia’s fleet is also projected to nearly double, bolstered by rising passenger demand and expanding middle classes in the region [bf2732d0-bb7b-4e55-9d35-f1d548672746, 5264107e-8380-4ecf-8f87-92a0381591f0].

Around 80% of the current passenger aircraft fleet is expected to be retired by 2040, creating strong aftermarket and replacement demand .

Aircraft leasing is becoming increasingly prominent, especially in the Asia-Pacific region where leasing activity is projected to increase by 20%, supporting fleet expansions among emerging market carriers.

Major lessors such as AerCap and BOC Aviation are capitalizing on this regional growth .

Meanwhile, Europe faces operational challenges including staff shortages and geopolitical pressures, but demand persists with forecasts for steady traffic growth and continued aircraft replacements to meet emissions regulations .

Key manufacturers poised to lead future deliveries are Airbus and Boeing, who collectively dominated recent single-aisle deliveries (533 and 263 aircraft respectively in 2021).

Global aircraft demand is projected to grow steadily over the next two decades, with approximately 43,000 to 45,000 new deliveries anticipated by 2040.

Title:

Content: Cirium expects 45,000 more fuel-efficient aircraft to be delivered by 2040, worth $2.9 trillion
Cirium predicts that over the next 20 years, the world will spend $2.9 trillion on about 45,000 new aircraft.
• New aircraft expected to be delivered will replace the ageing fleet to meet projected annual growth of 3.7% in air passenger traffic
Single-aisle jets are expected to account for 70% of passenger aircraft deliveries by 2040
• China is expected to top the list with a 20% share in aircraft deliveries – the region ’ s air passenger growth is expected to exceed 6%
• Around 80% of existing passenger aircraft will be retired between 2021 and 2040
Over 3,500 freighter deliveries over the next 20 years – including new freighters and modified airliners
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An estimated 45,000 aircraft worth U.S. $2.9 trillion to be delivered by 2040.
Revealed in Cirium's new Fleet Forecast.
LONDON -- The newly released 2021 Cirium Fleet Forecast shows that around 45,000 new, more fuel-efficient aircraft will be purchased globally over the next 20 years, with an estimated $2.9 trillion in aircraft purchases.
According to the Cirium Fleet Forecast released by Ascend by Cirium, a consulting firm of aviation analytics firm Cirium, global cumulative aircraft deliveries for the next 20 years will be 4% higher than predicted a year ago by 2040.
The report outlines the positive outlook for the aviation industry and its recovery from the COVID-19 pandemic.
The COVID-19 pandemic has severely affected air travel, as well as aircraft deliveries.
Global aircraft deliveries fell by 43% - or 600 aircraft - in 2020.
Aircraft deliveries recovered somewhat in 2021, but are still 25% below 2019 levels.
Air travel is reopening as global vaccination programs become more widespread, leading to an increase of 300 aircraft deliveries in 2021 — a feat achieved when Boeing 787 was found to be problematic.
Rob Morris, Global Advisory Director, Ascend by Cirium, said: “The Cirium Fleet Forecast 2021 presents an optimistic long-term outlook for the aviation industry, which will return to a more traditional growth trajectory after 2024, although structurally different from before.
Air passenger traffic is expected to grow at an annual rate of 3.7%, so the global passenger fleet will need to increase by almost 22,000 aircraft.
“If the above projections are realized, the global passenger fleet will reach the size of about 47,200 aircraft by the end of 2040. ”
The projected delivery of new aircraft will not only meet the growing demand for air transport, but will also replace older aircraft that are less fuel efficient. "
China leads in aircraft deliveries
The number of aircraft deliveries will vary depending on the region where the airline is located, and the Asian market is expected to be the growth engine.
China is expected to lead the world with more than 6% growth in air passenger traffic – also topping the list in aircraft deliveries, accounting for 20% of the world ’ s total.
China ’ s delivery figures are significantly ahead of all other Asia-Pacific countries, which together account for 22% of the total.
North American carriers are expected to account for 20 percent, while European carriers will account for 17 percent.
The Middle East is estimated to account for 7% of the share, but because the region will deliver a large number of twin-aisle aircraft, it will account for 11% in terms of aircraft value.
Latin America, which is similar to the Middle East, will also account for 7%.
Russia and the Commonwealth of Independent States (CIS) accounted for 4%, and Africa accounted for 3%.
Most of the new deliveries will be single-aisle jets
The fleet forecast report shows that over the next 20 years, single-aisle jets will account for 70% of total aircraft deliveries and 55% of total delivery value.
The total value of newly delivered single-aisle jets is $1.6 trillion.
The mainstream model will still be the 150-seat aircraft, represented by the Airbus A320neo and Boeing 737 Max 8, which will account for 50% of deliveries.
Popular models with more than 180 seats include the A321 neo and the B737 Max 10, which will have an increasing share each year and will account for 40% of deliveries over the next 20 years.
Airbus and Boeing are expected to develop a new generation of single-aisle aircraft in the early to mid-2030s.
The $1.1 trillion dual-aisle aircraft market will be dominated by the B787 and A350 models, with 250-300-seat “medium ” aircraft accounting for about 65% of the total value delivered.
The large passenger aircraft market will be contested by the A350-1000 and the B777-9.
Aircraft deliveries in regional markets are expected to reach a scale of $150 billion.
About a third of them will be turboprop aircraft, based on 70-seat models.
Starting in 2030, a larger 90-seat model will enter the market.
Future new aircraft projects in the market include the MA700 from China and an expected new line of aircraft from Embraer.
Older models will be replaced by a new generation of aircraft.
It is predicted that about 80% of current passenger aircraft will be out of passenger service between 2021 and 2040.
As the airline industry begins to focus on driving down carbon emissions and focusing on sustainability, it will become increasingly important to replace these older, more fuel-efficient aircraft with new models.
Overall, in addition to several relatively new aircraft that are being phased out earlier, around 19,000 aircraft in the global passenger fleet will be phased out by the end of 2020.
According to analysis by Ascend by Cirium, the average economic life expectancy for single-aisle aircraft is 22 years and for twin-aisle aircraft is 20 years.
The number of freighters is growing: including new freighters and refitted freighters
As the global freight industry continues to perform strongly, freighter capacity (based on available tonnage kilometres) is expected to grow by 3.3% over 2019, with a projected supply of around 3,500 freighters over the next 20 years.
Of this total, it is expected that 30 per cent will be new freighters and 70 per cent will be converted from passenger aircraft.
About 1,050 new freighters are expected to be shipped, valued at $121 billion.
More online shopping during the epidemic period has promoted the development of e-commerce, and the growth of e-commerce has promoted the conversion of airliners to freighters.
Modification projects are focused on newer models such as the A321, B737-800, A330 and B777-300ER.
The Cirium Fleet Forecast is an independent outlook report on the global commercial passenger and cargo aircraft market, based on the industry ’ s premier combination of data and years of expertise.
Click here to download the executive summary of the Cirium Fleet Forecast 2021.
About Cirium
Cirium is a company that combines powerful data and analytics services to drive the world ’ s continued growth. With decades of industry experience, Cirium provides clients with expert insights to help companies, aircraft manufacturers, airports, airlines and financial institutions make informed business decisions that shape the future of the travel industry, improve business returns and improve customer experience. RELX PLC is the world ’ s leading provider of information and data analytics to professional and commercial customers across a wide range of industries.
Shares of parent company RELX PLC are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX.
Visit cirium.com for more information or follow Cirium ’ s LinkedIn account and WeChat account, CiriumCN.
Disclaimer: The original version of this announcement is the official authorized version. The translation is for convenience only. Please refer to the original version, the original version is the only version with legal effect.
Contacts
For media inquiries, please contact:
Cirium Media Team
Rachel Humphries / June Lee
media @ Cirium.com
The PC Agency
Paul Charles / Michael Johnson / Callum McGoldrick
Cirium @ pc.agency
Contacts
For media inquiries, please contact:
Cirium Media Team
Rachel Humphries / June Lee
media @ Cirium.com
The PC Agency
Paul Charles / Michael Johnson / Callum McGoldrick
Cirium @ pc.agency

Single-aisle aircraft dominate this demand, accounting for around 70-75% of deliveries, driven by the rapid recovery of air travel post-pandemic and ongoing fleet renewal focused on fuel efficiency and sustainability [bf2732d0-bb7b-4e55-9d35-f1d548672746, 65a6d821-4ded-4ba5-874a-2aa5ee48ba5e].

Title:

Content: China surging news reported on the 15th, the United States Boeing released the 2021 version of the "Civil Aviation Market Forecast" report on the 14th, noting that basically, the global market is recovering according to the company's 2020 expectations.
The recovery in domestic air travel demand is leading the trend, with the interregional market expected to recover with the relaxation of hygiene and travel restrictions, and eventually remote international travel will return to pre-pandemic levels in 2023-2024.
In the next 20 years, the demand for new aircraft will reach 43,610, the highest in the North American market is 9,160, and the demand in China is 8,700.
The report pointed out that the economic recovery has laid the foundation for a rebound in air passenger traffic, and the future prospects for air passenger traffic will remain stable.
Looking forward to 2025, GDP will increase by more than 15% compared to 2019, and GDP per capita will increase by about 10%.
The 21-year average passenger flow growth from 2019 to 2040 is expected to be 4%, in line with last year ’ s forecast, indicating that the basic global demand for air transport has not changed.
The report predicts that due to cyclical and structural market dynamics, the future air cargo market demand is strong, and full cargo aircraft is a significant growth area, including original cargo aircraft and modified cargo aircraft are forecast to increase from the previous year.
Thanks to the growth of e-commerce and the speed and reliability of air cargo, the world cargo fleet will increase from about 2,000 in 2019 to about 3,400, and the sustainable demand for air cargo will increase the global cargo fleet by more than 70% compared to the pre-pandemic size by 2040.
Notably, the report predicts that the world will need 19,000 civilian aircraft worth $3.2 trillion in the next 10 years, and demand for more than 43,500 new aircraft worth $7.2 trillion in the 20-year period to 2040, an increase of about 500 over the previous year ’ s forecast.
Among them, as of 2040, the demand for regional jets is 2,390, single-aisle aircraft 32,660, wide-body aircraft 7670, wide-body cargo aircraft 890, and aircraft demand totals 43,610.
The North American market has the highest demand, at 9,160, and the Chinese demand is 8,700.
This demand will lead to a 3.1% annual growth in the global active fleet, with the global civil aviation fleet set to surpass 49,000 by 2040, China, Europe, North America and Asia Pacific each accounting for 20% of new aircraft deliveries, with the remaining 20% going to emerging markets.
Traffic disruptions have a significant impact on aircraft deliveries and active fleets due to the pandemic. The report anticipates that the civil aviation industry will need more than 7,500 new wide-body aircraft by 2040 to meet fleet renewal and long-term growth in demand in the remote passenger and cargo market.
These demand increased slightly from the previous year, but decreased by 8% from 2019.
At present, single-aisle aircraft account for nearly 64% of the global passenger fleet, and single-aisle aircraft account for the largest proportion of new aircraft deliveries, roughly in line with pre-pandemic forecasts, accounting for 75%, and demand for more than 32,500 aircraft over the next 20 years.
The report notes that global demand for new single-aisle aircraft is driven by the size and flexibility of single-aisle aircraft.
In the future, these new single-aisle aircraft will continue to promote the development of low-cost airlines and provide the needed alternatives for older, less efficient aircraft.
The three regional markets for the new single-aisle aircraft are Asia Pacific, Europe and North America, which account for more than 80% of global low-cost airline capacity in 2019 and throughout the forecast period.
In addition, the report predicts long-term growth in the short-haul market, especially in emerging markets, and predicts that intra-regional short-haul travel accounts for more than half of the industry ’ s total growth demand, with inbound travel alone accounting for 17% of the industry ’ s new capacity.
Historically, excursions have been spurred by improved services, such as new direct routes and lower fares through low-cost airlines.
The report predicts that the share of Asian airlines in the global market will continue to increase, with China ’ s passenger share expected to grow from 15% in 19 years to 20% in 2040, and Asia Pacific ’ s passenger share expected to grow from 18% in 19 years to 21%.
# Growth # Planes # Forecasts # Future # Markets

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.

What is Airbus doing to achieve sustainable aviation?

It is making efforts to improve aircraft efficiency.

Boeing forecasts 43,610 new aircraft deliveries over 20 years, with North America and China as the largest regional markets, receiving roughly 23% and 21% of deliveries respectively.

Title:

Content: Commercial Aircraft Interior Lighting Global Market Report 2023: Increasing Aircraft Modernization Programs Drive Demand

Dublin, IRELAND

Dublin, April 21, 2023 (GLOBE NEWSWIRE) -- The "Commercial Aircraft Interior Lighting Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.

The commercial aircraft interior lighting market is anticipated to grow at a CAGR of over 5.5% during the forecast period.

A growing number of air passengers, rising investments in the aviation sector, and increasing aircraft modernization programs create demand for internal systems, which drive market growth.

Increasing preference for new LED and OLED lights to enhance customer experience during the flight is expected to support the development of the market.

Furthermore, increased demand for non-electrical floor path lighting drive market growth. It consists of photoluminescent lighting strips installed on the cabin floor to guide passengers to emergency exists in case of lighting failures. The system does not require a lightweight power source, has an improved lifespan, and has zero maintenance.

Additionally, aging aircraft are undergoing refurbishments to extend their service lives, which may further generate demand for interior cabin products. Traditional lights are being replaced by advanced LEDs that have longer lives, low power consumption, robust designs, and enable easy installation, driving the market's growth during the forecast period.

Commercial Aircraft Interior Lighting Market Trends

Narrow-body Aircraft Segment is Expected to Show the Highest Growth During the Forecasts Period

Narrow-body aircraft are estimated to show remarkable growth during the forecast period. The growth is due to increasing narrow-body aircraft deliveries and investment in aircraft modernization programs.

In 2021, Boeing delivered 263 narrow-body aircraft (43 aircraft delivered in 2020), while Airbus delivered 533 narrow-body aircraft (484 aircraft delivered in 2020). Furthermore, Air India is planning to buy 300 narrow-body aircraft, one of the largest orders in India's commercial aviation.

Thus, growing orders for narrow-body aircraft and increasing expenditure from airlines on aircraft interior lighting systems drive the market growth. In addition, airlines are adopting advanced technologies to enhance passengers' experience during flights.

For instance, in November 2021, Singapore Airlines (SIA) launched new cabin products that were rolled out on its Boeing 737-8 fleet. The products include business class seats, Wi-Fi service, and others.

The business class seat has USB charging ports, an in-seat power supply, a reading light with adjustable brightness, and mood lighting. Such developments are likely to fuel the demand for commercial aircraft lighting over the forecast period.

North America Will Dominate the Market During the Forecast Period

North America is projected to show significant growth during the forecast period. The growth is due to the presence of well flourish aviation industry, increasing aircraft deliveries, and growing spending on the aviation sector. Developing air traffic and the modernization of aging aircraft is likely to boost market growth in the coming years.

Boeing, an aircraft manufacturer, forecasts that there is expected to be demand for about 41,170 new passenger and freighter aircraft deliveries over the next 20 years. Of the total projected deliveries, 23% of the new aircraft deliveries are likely to go to the North American region. In comparison, 63% will go to Europe, Asia-Pacific, and China, with a share of 21% respectively.

For instance, in June 2022, Delta Air Lines plans to buy 12 new A220-300 aircraft from Airbus. Also, Delta announced that it would buy 100 Boeing 737 MAX 10 jets worth about USD 13.5 billion and has options to buy another 30. In addition, in June 2021, United Airlines, an American airline, ordered 270 commercial aircraft, out of which 200 were Boeing Max jets and 70 Airbus A321neos.

The airline is planning to make seatback screens central to its new aircraft interiors and add higher numbers of roomier seats in coach. Thus, growing investments from airlines and increasing aircraft deliveries will create demand for advanced aircraft lighting systems that drive market growth across North America.

Commercial Aircraft Interior Lighting Industry Overview

The market for commercial aircraft interior lighting is fragmented, with several global and local players. Some prominent players are Collins Aerospace, STG Aerospace, Cobalt Aerospace, Safran SA, SELA, and Diehl Stiftung & Co. KG. The commercial aircraft interior lighting market is highly competitive. Product innovation is critical for the existing players to enhance their market presence. Moreover, long-term OEM contracts help companies maintain stable growth with increasing aircraft orders. For instance, Diehl Aviation and HAECO cabin solutions enter into a strategic commercial agreement to deliver a wide range of aircraft cabin interior components such as lighting systems, stowages, galleys, lavatories, seating, and reconfiguration engineering.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

5 MARKET SEGMENTATION
5.1 Aircraft Type
5.1.1 Narrow-body Aircraft
5.1.2 Wide-body Aircraft
5.1.3 Regional Aircraft
5.2 Light Type
5.2.1 Reading Lights
5.2.2 Ceiling and Wall Lights
5.2.3 Signage Lights
5.2.4 Lavatory Lights
5.2.5 Floor Path Lighting Stripes
5.3 Cabin Class
5.3.1 Economy Class
5.3.2 Business Class
5.3.3 First Class
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 South Korea
5.4.3.5 Rest of Asia-Pacific
5.4.4 Latin America
5.4.4.1 Brazil
5.4.4.2 Mexico
5.4.4.3 Rest of Latin America
5.4.5 Middle East and Africa
5.4.5.1 United Arab Emirates
5.4.5.2 Saudi Arabia
5.4.5.3 South Africa
5.4.5.4 Egypt
5.4.5.5 Rest of Middle East & Africa

6 COMPETITIVE LANDSCAPE

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

A selection of companies mentioned in this report includes

  • Collins Aerospace (United Technologies Corporation)
  • STG Aerospace Limited
  • Cobalt Aerospace Group
  • Safran SA
  • Diehl Stiftung & Co. KG
  • SELA Lighting Systems
  • Astronics Corporation
  • Luminator Technology Group
  • Schott AG
  • Cobham PLC
  • Soderberg Manufacturing Co. Inc.
  • Bruce Aerospace

For more information about this report visit https://www.researchandmarkets.com/r/t8a1fn

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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The global fleet is expected to grow at an annual rate of 3.1%, surpassing 49,000 aircraft by 2040.

South Asia, particularly India, is noted as the fastest-growing market, with fleet sizes expected to quadruple by 2041 driven by a 6.2% annual growth rate.

Title:

Content: Aircraft manufacturing giant Boeing recently released the 2022 "Civil Aviation Market Outlook" on the 18th local time.
In terms of the latest market demand forecast for the next 20 years, except for the increase in demand in North America compared to 2021, China, Europe, Latin America and other regions have decreased.
Among them, the report predicts that 9,310 will be delivered in North America from 2022 to 2041, an increase of 150 compared to the previous year.
China saw a decrease of 215 aircraft, or 2.5%, from 8,485 aircraft; Europe saw a decrease of 155 aircraft, or 1.78%, from 8,550 aircraft; and Latin America saw a decrease of 290 aircraft, or 11.46%, from 2,240 aircraft.
According to the report, the South Asian fleet continues to lead global growth at an average annual rate of 6.2%.
Led by India, the region ’ s fleet size is expected to reach more than 2,600 by 2041, nearly four times the 700 in 2019.
Southeast Asia is expected to experience the second fastest growth in the world, with its fleet expected to nearly double to 4,500 aircraft.
# South Asia # Global # Europe # Fleet # China

Southeast Asia’s fleet is also projected to nearly double, bolstered by rising passenger demand and expanding middle classes in the region [bf2732d0-bb7b-4e55-9d35-f1d548672746, 5264107e-8380-4ecf-8f87-92a0381591f0].

Around 80% of the current passenger aircraft fleet is expected to be retired by 2040, creating strong aftermarket and replacement demand .

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

They will accelerate the demand for aircraft replacement.

Aircraft leasing is becoming increasingly prominent, especially in the Asia-Pacific region where leasing activity is projected to increase by 20%, supporting fleet expansions among emerging market carriers.

Title:

Content: Aircraft Leasing Market: Industry Analysis, Opportunities, Forecasts for 2020
Aircraft leasing market
The global aircraft leasing market is a very active market and is expected to witness significant growth during the forecast period.
The main factors supporting the growth of the global aircraft leasing market are the dominance of Irish and Chinese companies, growth in air passenger volume, growth in wet lease demand, etc.
However, the main trend in the global market is the transfer of global lessors to emerging regions such as the Asia-Pacific region.
On the other hand, complex and unclear lease regulations and tax policies associated with airline bankruptcies and asset recovery risks are major obstacles to the growth of the global market.
The aircraft leasing industry market has been one of the most recognised sectors in Ireland for the past four decades.
In recent years, aircraft leasing activity has increased from 2% in 1980 to more than 50% in 2016.
This shows that Irish leasing companies are fully dominant in the global market.
Ireland has become a global aircraft leasing hub, accounting for more than 50% of the overall market, with 14 of the 15 global lessors operating in Ireland. Aircraft leasing activity increased significantly from 25% in 2001 to 40% in 2014 following the 9 / 11 attacks.
This is mainly due to the increasing momentum of various leasing companies to gain a foothold in the aircraft market, rather than relying on commercial banks as the main source of aircraft financing.
Another major reason for this growth is the number of aviation-related courses conducted in Ireland, including a master ’ s degree in aviation finance from the UCD Smurfit School.
These give people a good exposure to aviation finance.
In addition, the aviation industry contributed more than $4.80 billion, which is also the main growth factor in Ireland ’ s aircraft leasing industry.
China also plays a major role in the growth of the global aircraft leasing market.
After Ireland, China is considered to be the main market for aircraft leasing.
Over the past few years, the global lessor has shown greater interest in the Chinese market and has started doing business in China.
In addition, global air passenger traffic has been growing rapidly due to the growing demand for air travel in the emerging countries of Asia Pacific, the Middle East and South America.
Over the next 20 years, global air passenger traffic is expected to grow by 4.9%.
According to the global air trade body IATA (International Air Transport Association), passenger traffic from the Asia-Pacific region is increasing, and air travel demand is expected to double in the next 15 years.
However, this is a promising picture for leasing companies, as it is predicted that aircraft leasing companies will increase their penetration of the commercial aircraft market by 20%.
The Asia-Pacific region has always been a very prominent market for the aviation industry because it is the most populous region in the world and consumes the largest percentage of air traffic.
The presence of the busiest airports in Beijing, Dubai, Singapore and New Delhi has attracted prestigious leasing companies to invest in the Asia-Pacific region for the future.
According to the International Air Transport Association (IATA), air traffic in Asia is expected to grow at a rate of 6%; it is expected to increase in the future.
Aircraft financing, leasing and investment are needed to meet growing demand.
Among these types, aircraft leasing has taken a prominent place and is growing at an alarming rate.
In addition, about 35 per cent of aircraft are lease-financed.
This surge in aircraft demand and reliance on lease financing offers an attractive opportunity for many aircraft lessors to consider using aerospace and leasing centers in the Asia-Pacific region.
In addition, the growing economic situation and the collapse of crude oil prices have also become the main trend to convince the lessor.
Free Sample Report @ https: / / www.marketresearchfuture.com / sample _ request / 4247
Key players:
The major market players in the global aircraft leasing market are AerCap Holdings, Aviation Leasing Company, BOC Aviation Leasing, GE Capital Aviation Services, BBAM Aircraft Leasing and Management, Aviation Capital Group, Boeing Capital, SMBC Aviation Capital, Avolon and ICBC Leasing.
Aircraft leasing market competition analysis
The global aircraft leasing market is characterized by the presence of many global, regional and local suppliers.
The market competition is fierce, and all players are competing for the largest market share.
Intense competition, rapid technological development, frequent changes in government policies, and environmental regulations are key factors facing market growth.
In addition, in-house manufacturing capabilities, a global footprint network, product supply, R & D investment and a strong customer base have become key areas to surpass competitors.
Suppliers compete on the basis of cost, product quality, reliability and after-sales service.
It is vital for suppliers to provide advanced and high quality aircraft in order to survive and succeed in a competitive market environment.
Industry / Innovation / Related News:
August 2017: Aeronautical Leasing Corporation announces a long-term lease agreement with Aeromexico to add a new Boeing 787-9 aircraft equipped with GE engines.
The aircraft is expected to be delivered in June 2018.
The reason behind the agreement is to develop a modern fleet to support the company ’ s expansion of its global operations and its alliances with Delta and other airlines.
In July 2017, BOC Aviation announced the opening of new offices in New York, following Dublin, London and Tianjin.
The reason behind this expansion is that the company is expanding and establishing operations in North America.
June 2016: AerCap Holdings and Italian airline Neos announce lease agreements with two Boeing 737 MAX aircraft.
Neos will be the country ’ s first 737 MAX operator when it takes delivery of the aircraft in 2019.
20175: Aviation Capital Group announces the signing of a long-term lease agreement with Israel Airlines.
Under the agreement, the company will lease two new B787-9 aircraft from ACG ’ s order book commitments with Boeing and two new B787-8s under a sales and leaseback agreement.
The first aircraft is expected to be delivered in February 2018.
Aircraft Leasing Market Segment
For ease of reporting and deeper understanding, the aircraft leasing market is segmented according to the following factors:
Type of lease: wet lease and dry lease
Aircraft type Narrow-body and wide-body aircraft.
Regions: Includes geographic regions – North America, Europe, Asia Pacific and the rest of the world (RoW).
Analysis of Aircraft Leasing Market by Region
North America is mainly divided into the United States, Canada and Mexico.
North America is one of the leading regions in terms of revenue in the global aircraft leasing market.
The North American market is largely supported by the presence of a huge aviation market.
After Ireland, the United States is the next promising market in the world.
North America accounts for about 25% of the global aircraft leasing market.
In terms of revenue, the United States has become the main market, followed by Canada and Mexico.
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Major lessors such as AerCap and BOC Aviation are capitalizing on this regional growth .

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.

Download PDF Sample Report of Global Aerospace Avionics Market

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.

Get 20% OFF on North America Aerospace Avionics Market Analysis (Customization)

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

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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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Meanwhile, Europe faces operational challenges including staff shortages and geopolitical pressures, but demand persists with forecasts for steady traffic growth and continued aircraft replacements to meet emissions regulations .

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.

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

They will accelerate the demand for aircraft replacement.

Key manufacturers poised to lead future deliveries are Airbus and Boeing, who collectively dominated recent single-aisle deliveries (533 and 263 aircraft respectively in 2021).