Commercial Aerospace Market Forecasts to 2030 - Global Analysis by Aircraft Type, Component Type, Services, End User and By Geography

According to Stratistics MRC, the Global Commercial Aerospace Market is accounted for $30.9 billion in 2024 and is expected to reach $43.4 billion by 2030 growing at a CAGR of 5.8% during the forecast period. The commercial aerospace sector focuses on the design, construction, and operation of aircraft and spacecraft for commercial purposes. This includes passenger, cargo, and commercial space exploration aircraft. Companies in this category provide aircraft, components, maintenance, and related services. Major players are aircraft manufacturers, airlines, and space exploration companies. The program drives global mobility and contributes to economic growth, connectivity, and innovation in the aerospace and aerospace industries.

According to Boeing's Commercial Market Outlook, the global fleet of commercial aircraft is projected to double by 2042, with over 42,000 new aircraft deliveries anticipated during this period.

Market Dynamics:

Driver:

Increasing demand for air travel and cargo services

The increasing demand for air travel and cargo services is a significant driver of the commercial aerospace market. As global economies expand and globalization deepens, there is a growing need for efficient and reliable transportation services. This demand is fueled by rising disposable incomes, urbanization, and an expanding middle class, particularly in emerging markets. Consequently, airlines and aircraft manufacturers are investing in new aircraft to enhance connectivity and meet the rising passenger and cargo traffic, thereby driving market growth.

Restraint:

Stringent regulatory requirements

The industry is subject to rigorous safety, environmental, and operational standards imposed by aviation authorities worldwide. Compliance with these regulations often requires significant investments in technology, testing, and certification processes, which can increase costs for manufacturers and operators. These regulatory hurdles can delay product launches and limit market entry for new players, potentially slowing down the pace of innovation and market expansion.

Opportunity:

Expansion of low-cost carriers

LCCs have disrupted traditional aviation models by offering affordable travel options, thereby democratizing air travel. Their growth is driven by increasing demand for budget-friendly travel solutions, especially in emerging markets. This trend encourages aircraft manufacturers to develop cost-effective, fuel-efficient narrow-body aircraft that meet the operational needs of LCCs, opening up new revenue streams and market segments.

Threat:

Intense competition in the aircraft manufacturing sector

Major players like Boeing and Airbus dominate the industry, leading to fierce rivalry over market share. This competition drives continuous innovation but also results in pricing pressures that can erode profit margins. Additionally, new entrants from emerging markets are challenging established manufacturers with competitive pricing strategies and localized production capabilities, further intensifying the competitive landscape.

Covid-19 Impact:

The Covid-19 pandemic severely impacted the commercial aerospace market by disrupting global air travel and causing a sharp decline in passenger numbers. Airlines faced financial strain, leading to deferred aircraft orders and reduced fleet expansions. However, as vaccination rates increased and travel restrictions eased, there has been a gradual recovery in air travel demand. The industry is now focusing on fleet modernization to meet evolving safety standards and passenger expectations.

The narrow-body aircraft segment is expected to be the largest during the forecast period

The narrow-body aircraft segment is expected to be the largest during the forecast period due to its cost-effectiveness and flexibility for short to medium-haul routes. These aircraft offer higher passenger capacity than regional jets while maintaining lower operating costs compared to wide-body planes. This makes them ideal for low-cost carriers expanding their route networks. The ongoing demand for fuel-efficient models like the Boeing 737 and Airbus A320 families supports their dominance in the market.

The interior segment is expected to have the highest CAGR during the forecast period

The interior segment is expected to have the highest CAGR during the forecast period as airlines focus on enhancing passenger experience through cabin upgrades. Innovations in seating arrangements, in-flight entertainment systems, and cabin lighting are driving demand for advanced interior solutions. As airlines compete on service quality, investing in modernizing aircraft interiors becomes crucial for attracting passengers and differentiating their offerings in a competitive market landscape.

Region with largest share:

Over the forecast period, the North America region is anticipated to hold the largest market share due to its strong presence of major OEMs like Boeing and a robust aerospace infrastructure. The region benefits from significant investments in research and development, supporting technological advancements in aircraft design and manufacturing. Additionally, North America's mature aviation ecosystem facilitates seamless integration of new technologies across the value chain.

Region with highest CAGR:

During the forecast period, the Asia Pacific region is anticipated to register the highest CAGR driven by rapid economic growth and increasing air travel demand. Expanding middle-class populations in countries like China and India are fueling this growth, prompting airlines to expand their fleets with new aircraft orders. The region's focus on enhancing aviation infrastructure further supports its position as a key growth driver in the global commercial aerospace market.

Key players in the market

Some of the key players in Commercial Aerospace Market include Airbus SE, The Boeing Company, Embraer SA, Bombardier Inc., Textron Inc., Dassault Aviation, GE Aviation, Rolls-Royce plc, Safran SA, Pratt & Whitney, Lufthansa Technik AG, ST Engineering Aerospace, AFI KLM E&M, AerCap Holdings NV, Honeywell Aerospace and Collins Aerospace.

Key Developments:

In November 2024, Bombardier Defense delivered the first Bombardier Global 6500 aircraft in support of the United States Army's High Accuracy Detection and Exploitation System (HADES) program during a ceremony held at Bombardier Group's U.S. Headquarters in Wichita, Kansas. Bolstered by the Global 6500's high-performance capabilities, the fixed-wing platform will contribute to strengthening the U.S. Army's aerial deep sensing abilities and marks a significant milestone toward the United States' goal of modernizing its aerial military intelligence.

In November 2024, GE Aerospace successfully demonstrated a hybrid electric propulsion system rated at one megawatt as part of a $5.1 million research and development contract from the U.S. Army Combat Capabilities Development Command (DEVCOM) Army Research Laboratory (ARL).

In July 2024, Boeing forecasts demand for nearly 44,000 new commercial airplanes through 2043 as air travel surpasses pre-pandemic levels, with key growth drivers identified in emerging markets and global demand for single-aisle aircraft.

Aircraft Types Covered:

• Narrow-Body Aircraft
• Wide-Body Aircraft
• Regional Aircraft
• Freighter Aircraft
• Business Jets

Component Types Covered:

• Airframe
• Systems
• Interior

Service Types Covered:

• Maintenance, Repair & Overhaul (MRO)
• Technical Services
• Supply Chain Services

End Users Covered:

• Commercial Airlines
• Aircraft Leasing Companies
• Cargo Operators
• Business Aviation Operators

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances