Global Market for Aircraft & Related Parts $172 Billion by 2010, According to a New Report by Global Industry Analysts, Inc.
The speedy recovery in global air traffic since 2004 has set the dais for thriving air transport industry in the forthcoming years. The prospects for air travel and cargo sector have brightened in both developed markets such as Europe and the US, as well as, developing economies including Asia-Pacific and Latin America. The industry, in its both forms- domestic and international, attained new heights in the year, and the sector is projected to grow phenomenally in future. Asian air transport industry led the worldwide market, primarily dictated by booming air traffic in China and India. Middle East, an explicit business class air travel center is a venue with unexplored opportunities for airlines.
Globally, the growth in passenger traffic is supported by increased cargo traffic, both in domestic and international market. The air travel market is being nurtured through free trade agreements, signed by Governments of various countries as a move to support their domestic commerce. This re-jubilant industry would demand a lot of new as well as parked aircraft to be appended in the services by the airline, thereby creating a sea of opportunity for the aircraft, engines, parts and equipment industry.
The United States remains the largest aircraft, engines, parts & equipment market worldwide with demand reaching $64 billion in 2007, while Europe accounted for about 30% of the worldwide sales. An air traffic boom currently being experienced in the Asia-Pacific is projected to establish the region as the fastest growing aircraft, engines, parts & equipment market over the period 2000-2010, exhibiting a CAGR of over 2.5%. The aircraft engine and parts market is estimated at $37.7 billion in 2007. The ongoing military programs embarked upon by the US and other nations are expected to witness charged up military aircraft market (Including helicopters market over the period 2000-2010.
Global new commercial aircraft deliveries are projected to reach 1,397 units by 2010. Within the commercial passenger aircraft, 100-175 seaters remain the largest segment with estimated global deliveries of 707 units in 2007. North American deliveries of commercial aircraft are expected to reach 358 units by 2008, reflecting a slow demand pick up. Moreover, the region is expected to maintain a slow pace of 1% (CAGR) over the period 2000-2010.
Key players listed in the report include American Champion Aircraft Corporation, ATR, BAE Systems, Bell Helicopter Textron Inc., Bombardier Inc., CFM International Inc., Cirrus Design Corporation, Diamond Aircraft Industries Inc., Embraer-Empresa Brasileira de Aeron’utica S.A., European Aeronautic Defense and Space Co. (EADS), Airbus S.A.S., EADS Socata, Eurocopter SA, GE Aviation, Hawker Beechcraft Corporation, Ilyushin Aviation Complex JSC, International Aero Engines, IRKUT Corporation, Lancair International Inc., Lockheed Martin Corp., MD Helicopters Inc., NH Industries, Pilatus Aircraft Ltd., Piper Aircraft, Inc., Pratt & Whitney, Raytheon Co., Rolls-Royce plc, RUAG Aerospace, Snecma SA, Stork Aerospace Industries, S.A.B.C.A., Stork Fokker AESP, and The Boeing Company. “Aircraft, Engines, Parts & Equipment Industry: A Global Strategic Business Report” published by Global Industry Analysts, Inc., analyzes the global market with hard-to-find data and analytics for key regional markets such as the United States and Europe, alongside up and coming markets such as Asia-Pacific, Latin America and Middle East/Africa. The report provides a comprehensive review of market trends and issues, drivers, business profile, players, competitive landscape, recent developments, mergers, acquisitions, alliances, product launches and other strategic industry activities.
Market analytics are presented in US$ over the years 2000 through 2015. The report also analyzes new Commercial Aircraft deliveries by regional markets and product/group segments in terms of units. Product groups/s