AviationCompanies (2024 - 2029)

Aviation Market Companies Summary

The aviation market has seen significant impact due to the COVID-19 pandemic, with a dramatic fall in passenger traffic. However, there has been a gradual recovery with improvements noted in the commercial sector. The market has also seen increased demand for helicopters and business jets for the transportation of medical supplies, cargo, VIPs, and charter operations. This has led to an improvement in orders and deliveries, indicating a recovery in the market to its pre-COVID-19 level. Several corporations in the aviation sector are focusing on developing newer generation aircraft in various segments. These aircraft offer better fuel efficiency and safety for commercial customers and better situational awareness and tactical advantage for military customers. The advent of such aircraft is expected to drive market growth. The global aviation market is semi-consolidated, with a few major manufacturers dominating the market. These firms have maintained their market dominance for over a decade. The industry is expected to witness innovations in aircraft design, altering safety, comfort, and efficiency for commuters. The military segment of the market is witnessing increased collaborations between the players to develop next-generation combat and non-combat aircraft.