DUBLIN, June 29, 2022 /PRNewswire/ — The “Airlines – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.
Global airline market to reach $744 billion by 2026
Amid COVID-19 crisis, Global Airline Market Estimated at US$332.6 billion in 2020, is expected to reach a revised size of 744 billion US dollars 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 subsequent lockdowns, travel bans and other restrictions, which have had a significant impact on the business travel industry. The aerospace industry is expected to remain soft despite attempts to reopen borders and the economy.
Airlines are unlikely to reach pre-crisis levels in terms of passenger traffic and overall revenue. Due to the imposition of air travel restrictions, several airlines have restricted their flight schedules, which has hurt airline and airport revenues. To reduce losses, airlines have resorted to cost-cutting measures such as flight cancellations and relocating planes to places with low parking fees.
However, airports that must necessarily maintain their fixed assets have seen their income from other sources such as airport restaurants and stores drop drastically due to low footfall.
Passenger Airlines, one of the segments analyzed in the report, is expected to grow at a CAGR of 15.2% to reach US$587.8 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Freight Airlines segment is readjusted to a revised CAGR of 6.7% for the next 7-year period. This segment currently accounts for a 34.2% share of the global airline market.
The US market is estimated at $79.8 billion in 2021, when China is expected to reach $142.8 billion by 2026
The airline market in the United States is estimated at US$79.8 billion in 2021. The country currently accounts for an 18.79% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$142.8 billion in 2026 with a CAGR of 15.9% over the analysis period.
Other notable geographic markets include Japan and Canada, each predicting growth of 9.7% and 10% respectively over the analysis period. In Europe, Germany is expected to grow around 11.7% CAGR while the rest of the European market (as defined in the study) will reach 148 billion US dollars at the end of the analysis period.
Growth in the post-COVID-19 period will be driven by connectivity, aircraft automation, global affluence, immersive worlds, jet propulsion advancement, fluid formats, new energy aircraft, healthy habitats and hyper-personalization with a focus on the future of flight. In the future, passengers will have to adapt their experience to the most specific needs.
Customers will prioritize space requirements, entertainment and service over buying a first or business class ticket. It will be necessary to package the consumer experience differently and make significant changes to the current system. Intelligent cabin components with integrated sensors are expected to play a decisive role in redesigning the way passengers interact with the environment.
A receptive and responsible cabin adapts to the expectations of the dynamic passenger in terms of comfort, atmosphere, intelligent seats and activity spaces. There will be continued use of technology to understand consumer behavior and preferences and implement onboard customizations seamlessly.
There will be the re-emergence of supersonic civilian transport, driven by an exponential increase in public and private investment in new supersonic technologies, as well as an increase in the size of the space propulsion market.
Freight sector to reach $170.6 billion by 2026
Freight transportation service is divided into three types according to the characteristics of freight, express freight, postal freight and other freight.
The express freight service is used by consumers to transport perishable and time-sensitive goods and documents. Emergency supplies are transported using this service. Postal freight, as the name suggests, is used to ship couriers. All other types of goods are shipped as other goods.
Just-in-time delivery remains the key success factor for the global air cargo industry. The segment of the global freight sector is estimated at US$113.6 billion in 2020, and should reach US$170.6 billion by 2026, reflecting a compound annual growth rate of 6.7% over the analysis period.
Europe constitutes the largest regional market for the Freight segment, accounting for 24.5% of global sales in 2020. China is poised to record the fastest compound annual growth rate of 8.8% over the analysis period, reaching US$26.3 billion at the end of the analysis period.
Main topics covered:
1. MARKET OVERVIEW
- Overview of the influencer market
- Global Market Trajectories
- Impact of Covid-19 and a looming global recession
- Prospects of pandemic bumps in the aviation industry
- Airline Revenues Due to the COVID-19 Pandemic: Commercial Airline Revenue Growth (in %) for 2010-2020E
- Global airline performance by region: 2020 vs. 2019
- Even if the pandemic ends, the economy may keep people from flying: Unemployment in the United States (in millions)
- A badly battered global aviation industry struggles to revive
- Percentage (%) change in load factor by region of origin and aircraft type: March-April 2020
- Year-on-year growth in global air cargo volume (capacity) for months May 2020 through August 2020
- Airlines: a prelude
- Passenger transport sector
- Industry structure
- Freight and passenger traffic: a comparative overview
- Airline revenue streams
- Global Airline Market: Outlook and Prospects
- Outdated rules hampering the airline industry
- Global airline market by sector (2020 and 2027): revenue percentage breakdown for passengers and cargo
- Advances in Air Transport
- Boom in biofuels for aviation
- Geographical analysis
- Competitive landscape
- Recent market activity
- Airlines – Percentage of market share of the main global competitors in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Gamers Worldwide in 2022 (E)
2. FOCUS ON CERTAIN PLAYERS (Total 368 featured)
- Air France-KLM SA
- 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
- DAC Ryanair
- Airlines to Singapore
- Southwest Airlines Co.
- Thai Airways International PCL
- United Airlines Holdings, Inc.
- WestJet Airlines Ltd.
3. MARKET TRENDS AND DRIVERS
- Trends in commercial aviation activity
- Projected revenue losses in global aviation (in billions of US dollars) 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: fleet breakdown (in units) by region for 2019 and 2039
- Business and general aviation segment poised to lead future market growth
- Pent-up demand for airline and aircraft MRO markets expected when ground flights take off post-pandemic
- Embattled Airlines Worldwide parks thousands of aircraft creating an unprecedented challenge to keep them airworthy
- The Need to Reduce Operating Costs Drives the Growth of MRO Outsourcing Services
- Low Cost Carriers (LCCs) Will Expand MRO Opportunities
- The low-cost airline market gives rise to a need for suitable MRO practices and procedures
- Aging Aircraft Fleet Highlights Importance of MRO Services
- Critical Importance of MRO in Aircraft Safety Strengthens MRO Logistics Market
- Global number of fatalities on commercial flights (2010-2019)
- The fall in air freight is worsening an already difficult business climate
- Passenger-like logistics also bear the brunt of the pandemic: Global logistics industry growth 2019 vs 2020 (in %)
- The airline market will benefit from the new era of connected aircraft
- Big Data is transforming the aviation sector
- Emerging new technologies for urban mobility to heighten market excitement, post-pandemic
4. GLOBAL MARKET OUTLOOK
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/tte6rf
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SOURCE Research and Markets