PUBLISHER: Allied Market Research | PRODUCT CODE: 1344384
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344384
The Regional Jet Market is expected to experience a significant growth rate of 6.4% from 2023-2032 owing to the increasing demand for air travel, growing demand for regional connectivity- Allied Market Research
Regional jets are known for their efficiency, agility, and ability to operate in smaller airports with shorter runways. The major aircraft manufacturers in the regional jet market include Embraer, Bombardier, Sukhoi and others offer a range of regional jet models with varying seating capacities and capabilities to cater to the diverse needs of regional airlines and their passengers.
Developing economies, particularly in Asia-Pacific, Latin America, and the Middle East, are witnessing rapid urbanization, economic growth, and a burgeoning middle class. This demographic shift creates a demand for efficient regional air travel options, driving the growth of the regional jet market in these regions. Governments and tourism boards in these regions are actively promoting tourism development, attracting both domestic and international travelers. Regional jets play a vital role in facilitating regional tourism by connecting tourists to various destinations within the region. This drives the demand for regional jets and supports market expansion. For instance, regional jets play a vital role in connecting tourists to destinations such as the Scottish Highlands, the Norwegian fjords, or the Greek islands, where smaller regional airports serve as gateways to these breathtaking locations.
The regional jet market is segmented on the basis of platform, seating capacity, maximum take-off weight, and region. By platform, the market is segmented into commercial aircraft and military aircraft. Further, by seating capacity, the market is segmented into 15-80 seats and 80-125 seats. By maximum take-off weight, the market is segmented into 20,000 lbs. to 80,000 lbs. and 81,000 lbs. to 1,60,000 lbs.
By region, it is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, Spain, France, and the Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and the Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).