North America Aviation Market: Outlook, Size, Forecast, Demand, Competitive Analysis, Growth Factors, Key Players and Forecast: 2022-2031

Japan, Japan, Thursday, March 31, 2022 03:57:31 / Comserve Inc. / — The North American aviation market is expected to register a CAGR of over 2.5% during the forecast period.

the North American Aviation Market is expected to register a CAGR of over 2.5% during the forecast period.

– The aviation industry in North America has reached maturity and has several aircraft manufacturers. The defense sector mainly benefits from this, due to the government’s increasing investment in R&D and the purchase of advanced combat aircraft, drones and training aircraft from regional players.
– The commercial aviation sector in North America is growing primarily due to increased domestic and international air passenger traffic. Airlines, to meet the growing demand for air travel, are placing orders for next-generation aircraft that can either operate on new routes or replace aging aircraft in the fleet.
– The general aviation market in North America could experience growth, with the increasing purchase of business jets, turboprop aircraft and piston aircraft. Additionally, the growing focus on improving the infrastructure of private airports, along with favorable changes in regulations, could support the growth of the general aviation market in North America.

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Main market trends

Commercial aircraft segment is expected to register the highest CAGR during the forecast period

Airlines based in the United States and Canada have placed orders for several hundred planes, which are expected to be delivered between 2020 and 2025. American Airlines, Delta Air Lines, United Airlines, Air Canada and Southwest Airlines are a few major airlines based in North America. In September 2019, Delta Air Lines placed an order for a total of 95 A220 aircraft, of which 12 A220 aircraft were delivered in May 2019 and the remainder are expected to be delivered before 2022. Frontier Airlines has over 175 A320 Family aircraft in ordered. . In June 2019, the airline announced its intention to convert 18 Airbus A320neo family aircraft on order into 18 Airbus A321XLR aircraft. Similarly, United Airlines plans to replace some of its aging Boeing 757s and 767s with next-generation aircraft, such as the Boeing 787 or the long-haul A321LR. Growth in air passenger traffic, large aircraft order book and demand from airlines to replace their aging fleet are among the major drivers of segment growth in the region. However, the economic downturn and the COVID-19 outbreak and its impacts, such as the global lockdown, are expected to affect airline revenue and purchasing capabilities, which may, in turn, affect the growth of the segment. during the forecast period.

The United States accounted for a large share in 2019

The total number of air passengers carried in the United States increased from 849 million in 2017 to 889 million in 2018. In order to meet the growing demand for air travel, airlines in this region are introducing new routes every year to increase the connectivity that requires a significant increase in fleet capacity. The grounding of the Boeing 737MAX aircraft from March 2019 and the subsequent cancellation by several airlines of their orders for the aircraft had a significant impact on the revenues of Boeing, a local player in this region, as the aircraft was the best-selling aircraft in the company’s history. In the defense sector, the United States is expected to show steady growth over the next decade as it plans to replace its aging fighter jets with state-of-the-art aircraft. The US Marine Corps plans to acquire approximately 340 F-35B and 80 F-35C models that can replace the AV-8B Harrier II and aging F/A-18 Hornet aircraft. New aircraft orders by the defense forces could continue to drive the growth of the aviation market in this region. In general aviation, business jets are expected to see strong demand due to strong commercial activity in the country. Additionally, charter services are expanding their destinations from the United States, which is driven by market growth. The purchase of new models of business jets that can offer more comfort, range and space, at a lower cost, is driving the market growth in the country.

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Competitive landscape

Major market players include The Boeing Company, Airbus SE, Lockheed Martin Corporation, General Dynamics Corporation, and Textron Inc. The North America aviation market is highly competitive due to the presence of several aircraft manufacturing giants planes. Additionally, since the majority of aircraft manufacturing is concentrated in this region, several global aerospace suppliers have manufacturing, sales and support facilities based in this region. Adopting innovative methods, increasing product and service offerings, efficient workforce, strategic acquisitions and mergers, tapping into new markets and competitive pricing are some of the strategies of growth adopted by established players to increase their dominance in the aviation market. Several North American-based aerospace manufacturers collaborate with companies based in other parts of the world to share their expertise and technical know-how in the development of new technologies and products.

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