Market Size of Asia-Pacific Commercial Aircraft Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 13.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Commercial Aircraft Market Analysis
The Asian-Pacific commercial aircraft market is projected to register a CAGR of more than 13% during the forecast period.
Post COVID-19 pandemic, the effect is expected to continue even during the forecast period. Passenger traffic is expected to recover completely in three-four years. However, the large-scale backlog with aircraft OEMs is expected to drive the market during the forecast period. In addition, passenger traffic numbers are expected to recover by 2024. Thus, the commercial aviation industry outlook for the latter half of the forecast period is positive.
The aviation industry's growth is projected to be the highest in Asia-Pacific, as the region is a significant hub for the aviation industry. The emerging economies in the region, like India and China, are experiencing a massive surge in their respective civil aviation markets due to an increased demand for air travel in these countries. Hence, the revenues from Asia-Pacific are projected to witness a high growth rate during the forecast period.
Furthermore, the demand for narrow-body aircraft is expected to recover faster than for wide-body aircraft, as domestic demand is expected to return to pre-COVID-19 levels earlier than the international passenger demand.
APAC Commercial Aircraft Industry Segmentation
Commercial aircraft means any aircraft other than public aircraft engaged in the business of transporting property or persons. The Asian-Pacific commercial aircraft market is segmented based on aircraft type, application, and geography. By aircraft type, the market is segmented into narrow-body aircraft, wide-body aircraft, and regional aircraft. By engine type, the market is segmented into turbofan and turboprop. By application, the market is segmented into passenger aircraft and freighters. The report also covers the market sizes and forecasts for the market in major countries across the Asian-Pacific region. The market sizing and forecasts for each segment have been represented based on value (USD million).
| By Aircraft Type | |
| Narrow-body Aircraft | |
| Wide-body Aircraft | |
| Regional Aircraft |
| By Engine Type | |
| Turbofan | |
| Turboprop |
| By Application | |
| Passenger Aircraft | |
| Freighter |
| By Geography | |
| India | |
| China | |
| Japan | |
| South Korea | |
| Australia | |
| Rest of Asia-Pacific |
Asia-Pacific Commercial Aircraft Market Size Summary
The Asia-Pacific commercial aircraft market is poised for significant growth, driven by the region's status as a major aviation hub and the rapid expansion of civil aviation in emerging economies like India and China. The market is expected to experience a robust growth trajectory, supported by a strong recovery in passenger traffic and a substantial backlog with aircraft original equipment manufacturers (OEMs). The demand for narrow-body aircraft is anticipated to rebound more swiftly than that for wide-body aircraft, as domestic travel demand recovers to pre-pandemic levels ahead of international travel. This recovery is further bolstered by fleet modernization initiatives and the expansion of airline networks, which are enhancing the order books of major aircraft manufacturers such as Boeing and Embraer.
The market landscape is characterized by a high level of consolidation, with key players like Airbus, Boeing, Mitsubishi, and Comac (CAIC) dominating the industry. These companies are heavily investing in research and development to introduce innovative and advanced aircraft technologies, aiming to secure new contracts and expand their market presence. The Asia-Pacific region is expected to be a significant consumer of regional jets, with countries like China and India leading the demand. Additionally, strategic partnerships and procurement plans, such as those by Singapore Airlines and MHI RJ Aviation Group, are set to drive market growth, with a focus on sustainable and efficient aircraft solutions.
Asia-Pacific Commercial Aircraft Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porters 5 Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size and Forecast by Value - USD million, 2018 - 2027)
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2.1 By Aircraft Type
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2.1.1 Narrow-body Aircraft
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2.1.2 Wide-body Aircraft
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2.1.3 Regional Aircraft
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2.2 By Engine Type
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2.2.1 Turbofan
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2.2.2 Turboprop
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2.3 By Application
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2.3.1 Passenger Aircraft
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2.3.2 Freighter
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2.4 By Geography
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2.4.1 India
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2.4.2 China
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2.4.3 Japan
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2.4.4 South Korea
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2.4.5 Australia
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2.4.6 Rest of Asia-Pacific
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Asia-Pacific Commercial Aircraft Market Size FAQs
What is the current Asia-Pacific Commercial Aircraft Market size?
The Asia-Pacific Commercial Aircraft Market is projected to register a CAGR of greater than 13% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Commercial Aircraft Market?
Boeing, Airbus, Embraer, Commercial Aircraft Corporation of China,Ltd., MITSUBISHI HEAVY INDUSTRIES, LTD., Rostec and ATR are the major companies operating in the Asia-Pacific Commercial Aircraft Market.
