According
to a new market research report "Commercial Aircraft (Engine,
Parts, and Equipment) Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2013 - 2019," published by
Transparency Market Research, the global market for commercial
aircraft is forecast to reach USD 265.71 billion by 2019.
The
market is driven by increased demand for aircrafts as an outcome of
network expansion by airlines. Introduction of low cost carriers and
expansion of destinations connected/served by airlines has in
particular affected the demand for single aisle aircrafts. The report
provides in-depth analysis of the market by segmenting it on the
basis of parameters such as jet engine type, components, and aircraft
type.
Browse
the full Commercial Aircraft Market report at
http://www.transparencymarketresearch.com/commercial-aircraft-market.html
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 - 2019.
These aircrafts are predominantly powered by jet engines, which are
classified as turboprop and turbofan engines. Of these, the turbofan
engines segment because of their high speed (more than 400 mph) and
better efficiency at higher altitudes is expected to record faster
growth as compared to turboprop engines during the forecast period.
In addition, growth of the commercial aircraft jet engines market is
further aided by development of fuel-efficient models, which has
resulted in replacement demand for engines from existing aircraft
fleet.
An
aircraft body comprises engines and other components such as
airframe, landing gear, systems, interior and avionics. Of these,
landing gear and airframe are expected to see faster growth with both
segments collectively accounting for 72.3% share of the total market
revenue in 2012. The demand for aircraft landing gears is driven by
need for frequent replacement and high expenditure on maintenance,
repair, and overhaul, of the landing gears, as they are frequently
exposed to harsh conditions, and so are prone to damages. The same
holds true for the airframes which also require similar frequent
maintenance.
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The
demand for components is directly influenced by the type of aircraft;
the larger the size more is the number of systems and material
required. On the basis of size, aircrafts are segmented into large
widebody, small widebody, medium widebody, narrow body, business
jets, and regional jets. Narrow body (or single-aisle aircrafts) and
large widebody aircrafts are emerging as key segments in terms of
growth in the global commercial aircraft (engine, parts, and
equipment) market, with demand for both segments distinctively
characterized by flight route and traffic over it. While narrow body
aircrafts are seen as the most preferred type by low cost carriers
operating in the non-core routes (with less traffic), large widebody
aircrafts see higher demand from airlines on core routes or routes
with high traffic. Cost of operations and services offered onboard
are some of the other factors affecting the demand for different
aircraft types.
The
selection of type of aircraft is also a strategic decision to be made
by airlines in terms of their future investment and growth plans. Of
the different types, regional jets segment accounted for 30.9% share
of the total market revenue in 2012. This was mainly due to the
increased domestic travel across North American countries such as
Canada, U.S., and Mexico. U.S., which accounts for largest revenue
share in North America, has the highest domestic passenger load
amounting to 85.4% as of December 2013, as per the International Air
Transport Association's (IATA) report on Air Passenger Analysis.
The
global commercial aircraft market is consolidated with players who
manufacture different types of aircraft models. Players such as
Boeing Company and Airbus S.A.S. are the leading commercial aircraft
manufacturers globally, and collectively accounted for 80.9% of the
total market revenue in 2012. These players have a well established
network of suppliers as well as service providers to meet varying
requirements from different end-use sectors which provides them with
a competitive edge in the global market. Other important players in
the market are GE Aviation, Embraer S.A., Bombardier Inc.,
Rolls-Royce Holding Plc., BAE Systems, and Fokker Technologies.
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