DUBLIN, June 29, 2022 /PRNewswire/ — The “Airlines – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Airlines Market to Reach $744 Billion by 2026
Amid the COVID-19 crisis, the global market for Airlines estimated at US$332.6 Billion in the year 2020, is projected to reach a revised size of US$744 Billion by 2026, growing at a CAGR of 12.7% over the analysis period.
The industry has been severely impacted by the COVID-19 outbreak and the ensuing lockdowns, travel bans and other restrictions, which have significantly impacted the business travel industry. The aerospace industry is anticipated to remain soft despite attempts to re-open the borders & economy.
Airlines are unlikely to touch the pre-crisis levels in terms of passenger traffic and overall revenues. Due to imposition of restrictions on air travel, several airlines limited their flight schedules, adversely affecting the revenue of both airline companies and airports. In order to reduce losses, airlines resorted to cost cutting measures such as flight cancellations and relocation of aircraft to places with low parking charges.
However, airports which have to necessarily maintain their fixed assets have seen drastic fall in revenue from other sources such as restaurants and airport shopping due to low footfall.
Passenger Airlines, one of the segments analyzed in the report, is projected to grow at a 15.2% CAGR to reach US$587.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Freight Airlines segment is readjusted to a revised 6.7% CAGR for the next 7-year period. This segment currently accounts for a 34.2% share of the global Airlines market.
The U.S. Market is Estimated at $79.8 Billion in 2021, While China is Forecast to Reach $142.8 Billion by 2026
The Airlines market in the U.S. is estimated at US$79.8 Billion in the year 2021. The country currently accounts for a 18.79% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$142.8 Billion in the year 2026 trailing a CAGR of 15.9% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.7% and 10% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.7% CAGR while Rest of European market (as defined in the study) will reach US$148 Billion by the close of the analysis period.
Growth in the post COVID-19 period will be led by connectivity, aircraft automation, global affluence, immersive worlds, jet propulsion advancement, fluid formats, new energy aircraft, healthy habitats, and hyper-personalization with emphasis on future of flying. In the future, passengers are expected to tailor their experience to the needs that are more specific.
The customers will be prioritizing the space requirements, entertainment, and service over buying a first or business class ticket. There will be a need to package the consumer experience differently and make significant changes to the prevailing system. Smart cabin components with integrated sensors are expected to play a decisive role in revamping the way passengers interact with environment.
A receptive and responsible cabin adapts to the dynamic passenger`s expectations related to comfort, ambiance, intelligent seats, and activity areas. There will be continued use of technology to understand consumer behavior and preferences and implement customizations onboard in a seamless fashion.
There will be the reemergence of supersonic civilian transportation led by exponential surge in the public & private investments in novel supersonic technologies along with an increase in the size of the space propulsion market.
Freight Sector to Reach $170.6 Billion by 2026
Cargo transport service is divided into three types depending upon the freight characteristics, express cargo, mail cargo, and other cargo.
Express cargo service is utilized by consumers for transporting perishable and time sensitive goods and documents. Emergency supplies are transported utilizing this service. Mail cargo, as the name suggests is used for shipping mails. All the other types of cargo are shipped as other cargo.
Just-in-time delivery remains the key factor for the success of global air cargo industry. Global Freight Sector segment is estimated at US$113.6 Billion in 2020, and is projected to reach US$170.6 Billion by 2026 reflecting a compounded annual growth rate of 6.7% over the analysis period.
Europe constitutes the largest regional market for Freight segment, accounting for 24.5% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 8.8% over the analysis period, to reach US$26.3 Billion by the close of the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Pandemic Dents Prospects in the Aviation Industry
- COVID-19 Pandemic Dents Airline Revenues: Commercial Airline Revenue Growth (in %) for 2010-2020E
- Global Airlines Performance by Region: 2020 Vs 2019
- Even if the Pandemic Ends, the Economy Can Keep People from Flying: Unemployment in the U.S. (In Million)
- A Severely Battered Global Aviation Industry Struggles to Revive
- Percentage Change (%) in Load Factor by Region of Origin and Aircraft Type: March-April 2020
- Global Air Cargo Volume (Capacity) YOY Growth for the Months May 2020 through August 2020
- Airlines: A Prelude
- Passenger Transport Sector
- Cargo Transport
- Industry Structure
- Cargo vs. Passenger Traffic: A Comparative Overview
- Airlines` Revenue Stream
- Global Airlines Market: Prospects & Outlook
- Antiquated Rules that Hampers Air Industry
- World Airlines Market by Sector (2020 & 2027): Percentage Breakdown of Revenues for Passenger, and Freight
- Advancements in Air Travel
- Boom in Aviation Biofuels
- Geographic Analysis
- Competitive Landscape
- Recent Market Activity
- Airlines – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS (Total 368 Featured)
- Air France-KLM S.A.
- American Airlines Group Inc.
- Ana Holdings Inc.
- British Airways Plc
- Delta Air Lines, Inc.
- Deutsche Lufthansa AG
- Hainan Airlines Co., Ltd.
- Japan Airlines Co., Ltd.
- LATAM Airlines Group S.A.
- Qantas Airways Limited
- Ryanair DAC
- Singapore Airlines
- Southwest Airlines Co.
- Thai Airways International PCL
- United Airlines Holdings, Inc.
- WestJet Airlines Ltd.
3. MARKET TRENDS & DRIVERS
- Trends in Commercial Aviation Activity
- Expected Revenue Losses in Global Aviation (In US$ Billion) for the Year 2020
- Air Passenger Traffic and Demand for Modern Aircraft Present Long-term Growth Opportunities for the Market
- Global Commercial Aircraft Fleet Projections: Breakdown of Fleet (in Units) by Region for 2019 and 2039
- Business & General Aviation Segment Poised to Lead Future Growth in the Market
- Pent Up Demand for Airlines and Aircraft MRO Markets Foreseen When Grounded Flights Take to the Skies Post Pandemic
- Embattled Airlines Worldwide Park Thousands of Airplanes Creating an Unprecedented Challenge for Keeping Them Airworthy
- Need to Reduce Operating Costs Drives Growth in MRO Outsourcing Services
- Low Cost Carriers (LCCs) to Expand Opportunities for MRO
- Low Cost Airlines Market Gives Rise to Need for Right Sized MRO Practices and Procedures
- Aging Aircraft Fleet Outlines the Importance of MRO Services
- Critical Importance of MRO in Aircraft Safety Reinforces MRO Logistics Market
- Global Number of Fatalities on Commercial Flights (2010-2019)
- Declines in Air Cargo Worsens an Already Punishing Business Climate
- Logistics Similar to Passenger Travel Also Bears the Brunt of the Pandemic: Global Logistics Industry 2019 Vs 2020 Growth (In %)
- Airlines Market to Reap Benefit from New Era of Connected Aircraft
- Big Data Transforming Aviation Sector
- Emerging New Technologies for Urban Mobility to Step-Up the Excitement in the Market, Post Pandemic
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/tte6rf
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