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Published Date: 2014-06-13Number of Pages: 94

Commercial Aircraft Market (Engine, Parts, and Equipment) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

 

The global commercial aircraft market was valued at USD 189.21 billion in 2012 and is expected to grow at a CAGR of 5.0% from 2013 to 2019. Currently, the market is driven by demand for new and advanced aircrafts due to network expansion by airlines combined with rising demand for single-aisle (narrow body) aircrafts. Moreover, replacement of existing aircraft engines with fuel-efficient models due to technological advancements in engine design and manufacturing would further contribute to rise in commercial aircrafts demand during the forecast period. However, challenges such as environmental regulations and supply chain ramp-up are hindering market growth.

 

The global commercial aircraft market is analyzed on the basis of parameters such as components, aircraft type, and geographic regions. Of the different component types, the jet engine segment contributed a significant revenue share in the overall market in 2012. Jet engines used to power an aircraft are classified as turbofan and turboprop engines. Of these, the market for turbofan engines that offer better efficiency and speed at higher altitudes is expected to record steady growth as compared to turboprop engines. Furthermore, development of fuel-efficient engines has resulted in replacement of currently in-use jet engines.

 

Other than engines, aircraft components include airframe, systems, interior, avionics, and landing gear. In 2012, landing gear recorded the highest market revenue share as compared to other components. On the basis of size, aircrafts are classified as large wide-body, medium wide-body, small wide-body, regional jets, and business jets. The single-aisle or narrow body aircrafts and large wide-body aircrafts are expected to emerge as key segments which will drive the demand for commercial aircraft market. The demand for a particular aircraft type depends on the duration/length of travel which is classified as short haul or long haul. Narrow body aircrafts are preferred by low cost carriers (LCC) that operate on short routes with high traffic for budget travelers. These routes often connect domestic locations in a given country. Demand for large wide-body aircrafts is higher for routes with high traffic, often connecting international destinations. In 2012, of the different types of aircrafts, regional jets propelled with turbofan engines used for short haul travel, recorded the highest percentage revenue contribution. This was primarily due to rise in domestic travel across countries such as Canada, U.S., and Mexico.

 

Geographically, North America dominated the global commercial aircraft market in 2012 followed by Europe that accounted for 38% revenue share in the same year. Further, the Asia-Pacific region with entry of low-cost airlines, rise in disposable income of middle class people, and infrastructure development across countries such as China, Singapore, and India, is expected to record faster growth as compared to other regions during the forecast period. . 

 

The commercial aircraft market is dominated by players such as Boeing Company, Airbus S.A.S., Bombardier Inc., GE Aviation (subsidiary of General Electric), Embraer S.A., Rolls-Royce Holding Plc., Pratt and Whitney (subsidiary of UTC Corp.), and BAE Systems. Of these, Boeing Company and Airbus S.A.S. hold a significant revenue share in the global commercial aircraft market. Rolls-Royce Holding Plc., Pratt and Whitney, and CFM International are identified as key players in the engine sector.

 

This report covers the market analysis for various parameters including types of aircraft, and the components used in an aircraft with prime focus on the type of jet engine used in the aircraft. The stakeholders for this study include commercial aircraft engine, parts, and equipment manufacturers, and government.

 

The market overview section of the report demonstrates the market dynamics and trends such as the drivers, restraints and opportunities that influence the current nature and future status of this field. Impact factors such as market attractiveness analysis and Porter’s five forces analysis have also been explained in this section of the report, in order to give a thorough analysis of the overall competitive scenario in the global commercial aircraft (engine, parts, and equipment) market.

 

Commercial aircraft market worldwide has witnessed a surge in demand for new and advanced aircrafts, largely influenced by entry of new airlines and network expansion by existing airlines. Other factors, such as replacement of obsolete aircrafts, rise in air passenger traffic, and healthy economic growth exhibited by emerging markets are further increasing the demand for commercial aircrafts during the forecast period. In addition, due to increased carbon emissions, aircraft manufacturers are concentrating on developing energy efficient engines in aircraft to meet the standards of reduced greenhouse gas emissions. It is expected that by 2050, these new developed energy efficient engines would help reduce carbon emissions by 80% in the environment.  This is further supported by development of alternative fuels such as drop-in bio-fuels which is expected to emerge as a prominent solution toward achieving carbon-neutral growth in the aviation industry.

 

The global commercial aircraft (engine, parts, and equipment) market is categorized on the basis of jet engines, components, and type of aircraft. With respect to jet engines, the report includes two major classes, namely, turbofan and turboprop jet engines. The components of an aircraft include engine, airframe, systems, avionics, interior, and landing gear. The types of commercial aircraft studied in the report comprise of large widebody aircraft, small widebody aircraft, medium wide body aircraft, narrow body aircraft, regional jets, and business jets. This section provides market revenue and forecast for each segment for the period 2011 to 2019 in terms of USD billion , along with the compound annual growth rate (CAGR ) for the forecast period:2013 to 2019.

 

In terms of geographical distribution, the global commercial aircraft market has been classified into four regions, namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). This section includes market estimates and forecast for the commercial aircraft engine, parts, and equipment market across each regional market, in terms of USD billion.

 

This report includes company profiles of the key market players, focusing on company overview, business strategies, financial overview, SWOT analysis, and recent developments . Some of the major companies operating in the commercial aircraft market and profiled in this report include Boeing Company, Airbus S.A.S, Bombardier Inc., Pratt and Whitney (United Technologies Corporation), GE Aviation (General Electric Corporation), and Rolls-Royce Holdings Plc., among the others. However, market size estimates are not limited to revenue generated by these companies.

 

The report analyzes the global commercial aircraft (engine, parts, and equipment) market in terms of revenue (USD billion).

 

Global Commercial Aircraft Market Segmentation:

 

Global Commercial Aircraft Jet Engine Market, by Engine Type

  • Turbofan
  • Turboprop

Global Commercial Aircraft Market, by Component

  • Engine
  • Airframe
  • Systems
  • Avionics
  • Interior
  • Landing gear

Global Commercial Aircraft Market, by Aircraft Type

  • Large widebody
  • Medium widebody
  • Small widebody
  • Narrow body
  • Regional jets
  • Business jets

Global Commercial Aircraft Market, by Geography

  • North America
  • Europe
  • Asia–Pacific
  • Rest of World (RoW)


 
 
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