Market Size of North America Aviation Industry
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 81.77 Billion |
| Market Size (2029) | USD 94.34 Billion |
| CAGR (2024 - 2029) | 2.90 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North American Aviation Market Analysis
The North America Aviation Market size is estimated at USD 81.77 billion in 2024, and is expected to reach USD 94.34 billion by 2029, growing at a CAGR of 2.9% during the forecast period (2024-2029).
An increase in low-cost carriers (LCCs) and ultra-low-cost carriers (ULCCs) has disrupted the traditional airline business model. These carriers offer competitive fares, enticing a larger customer base and expanding air travel accessibility to more people.
The presence of various aircraft manufacturers has led to the maturation of the aviation industry across North America. The defense industry has also benefited from government investments in introducing advanced defense solutions and research and development capabilities for helicopters and fighter jets. Procuring advanced fighter jets, transport and trainer aircraft, and helicopters from regional players has also contributed significantly to market growth. With fuel prices increasing, companies are expected to experience increased operating costs. Fuel surcharges add USD 600 to over USD 1,000 per hour, depending on aircraft types and fuel price changes. Due to this, companies have to transfer the costs to the consumers, which increases trip costs or cuts their profit margin. Such factors hamper the market's growth.
Moreover, the growth of the general aviation market in the region is anticipated to be supported by the growing focus on improving private airport infrastructure and favorable regulatory changes during the forecast period.
North American Aviation Industry Segmentation
The North American aviation market report includes details of fixed-wing aircraft and rotorcraft in the commercial, military, and general aviation industries. It also provides an overview of aircraft orders and deliveries, air passenger traffic, defense expenditure analysis, investments by countries in the aviation industry in the region, and the introduction of new routes.
The North American aviation market is segmented into type and geography. By type, the market is segmented into commercial aircraft (passenger and freighter aircraft), military aircraft (combat and non-combat aircraft), and general aviation (helicopter, piston fixed-wing aircraft, turboprop aircraft, and business jet). The report also offers the market size and forecasts for two regional countries. For each segment, the market sizes and forecasts are provided in terms of value (USD).
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North America Aviation Market Size Summary
The North American aviation market is poised for steady growth, driven by the increasing presence of low-cost and ultra-low-cost carriers, which have disrupted traditional airline business models by offering competitive fares. This shift has expanded air travel accessibility, attracting a larger customer base. The market's maturation is further supported by a robust presence of aircraft manufacturers and significant government investments in the defense sector, enhancing research and development capabilities for advanced aircraft. However, rising fuel prices pose challenges, leading to increased operating costs that companies may pass on to consumers, potentially impacting profit margins. Despite these challenges, the general aviation market is expected to benefit from improved private airport infrastructure and favorable regulatory changes.
The commercial aircraft segment is anticipated to experience significant growth, fueled by the rising demand for passenger planes and the industry's shift towards fuel-efficient and zero-emission aircraft. The United States, as a major player in the global aviation market, is expected to see substantial expansion, with airlines enhancing their fleets and acquiring advanced aircraft to meet growing air travel demands. The defense industry in the U.S. is also set for consistent growth, supported by increased military spending and plans to upgrade outdated fighter jets. The competitive landscape in North America is characterized by major companies like Boeing, Airbus, and Lockheed Martin, which employ various growth strategies, including mergers, acquisitions, and international collaborations, to maintain their market positions and drive innovation.
North America Aviation 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 Industry Attractiveness - Porter's Five Forces 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
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2.1 Type
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2.1.1 Commercial Aircraft
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2.1.1.1 Passenger Aircraft
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2.1.1.2 Freighter Aircraft
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2.1.2 Military Aircraft
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2.1.2.1 Combat Aircraft
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2.1.2.2 Non-combat Aircraft
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2.1.3 General Aviation
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2.1.3.1 Helicopter
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2.1.3.2 Piston Fixed-wing Aircraft
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2.1.3.3 Turboprop Aircraft
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2.1.3.4 Business Jet
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2.2 Geography
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2.2.1 United States
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2.2.2 Canada
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North America Aviation Market Size FAQs
How big is the North America Aviation Market?
The North America Aviation Market size is expected to reach USD 81.77 billion in 2024 and grow at a CAGR of 2.9% to reach USD 94.34 billion by 2029.
What is the current North America Aviation Market size?
In 2024, the North America Aviation Market size is expected to reach USD 81.77 billion.
