PUBLISHER: The Business Research Company | PRODUCT CODE: 1260926
PUBLISHER: The Business Research Company | PRODUCT CODE: 1260926
“Passenger Air Transport Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on passenger air transport market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for passenger air transport? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The passenger air transport market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major companies in the passenger air transport services market include The Emirates Group, American Airlines Group Inc., Delta Air Lines Inc., United Airlines Inc., China Southern Airlines, Japan Airlines Co Ltd., Ryanair DAC, Air France-KLM, and Qatar Airways Company Q.C.S.C.
The global passenger air transport market grew from $573.6 billion in 2022 to $834.2 billion in 2023 at a compound annual growth rate (CAGR) of 45.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The passenger air transport market is expected to grow to $1053.34 billion in 2027 at a CAGR of 6.0%.
The passenger air transport services market includes revenues earned by entities that transport passengers from one location to another in a short period of time while also improving security. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Passenger air transport service refers to a mode of transportation for people that uses aircraft, such as planes and helicopters, to provide air transportation services for passengers, including scheduled and non-scheduled air carriers, to facilitate fast travel with improved security and to be used in emergency operations.
Asia-Pacific was the largest region in the passenger air services transport market in 2022. North America was the second largest region in the passenger air transport services market. The regions covered in the passenger air transport services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types in the passenger air transport market are domestic air passengers and international air passengers. Domestic air passenger services are provided for domestic passengers by air transport. The market is segmented by class into business class and economy class and by end-use into private and commercial.
The increase in global tourism is expected to fuel the growth of the passenger air transport market in the forecast period. Global tourism is probably the largest movement of goods, services, and people, and it is a major force for economic growth and socio-political transition. According to the United Nations World Tourism Organization (UNWTO), 1.5 billion international tourist arrivals were recorded in 2019, globally. A 4% increase on the previous year is also forecast for 2020 and is expected to cross US$ 23 million by 2023. Therefore, the increase in global tourism drives the growth of the passenger air transport market.
The use of analytics is rapidly growing in the aviation industry to capture critical insights from customer and operations data. It allows airlines to offer personalised services to their customers by using data analytics tools at every customer touchpoint. The growing use of analytics in the aviation industry is mainly a result of increasing competition between airlines. As a result, the commercial airline is looking to enhance customer satisfaction levels by analysing parameters such as ticket sales, passenger profile, and purchase history. For instance, Chicago-based United Airlines analyses 150 variables in a customer profile to offer a more personalised offer. Southwest Airlines, Delta Airlines, and United Airlines are major companies using analytics in the aviation industry.
The countries covered in the passenger air transport services market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The passenger air transport market research report is one of a series of new reports from The Business Research Company that provides passenger air transport market statistics, including global market size, regional shares, competitors with a passenger air transports market share, detailed passenger air transport services market segments, market trends and opportunities, and any further data you may need to thrive in the passenger air transport industry. This passenger air transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.