The global Civil Aviation Industry market size was USD 15.2 billion in 2022 and is expected to register a revenue CAGR of 9% during the forecast period. Demand for air travel is rising as result increasing world population and rising disposable income, are major factors fueling driving market revenue growth. Revenue growth of the market has been aided by the increase in low-cost airlines. Also, need for air cargo services has been driven by rapid globalization and rising trends of international trade, which is driving revenue growth of the market.
Development of the middle class and increasing disposable income have created high demand for air travel. Revenue growth of the market has also been driven by desire for low-cost carriers. Also, movement toward rapid globalization and international trade have fueled demand for air cargo services.
Get a sample of the report @ https://www.reportsanddata.com/download-free-sample/6047
Revenue growth of the Civil Aviation Industry market has been significantly influenced by technological breakthroughs. The safety, comfort, and fuel efficiency of aeroplanes have been improved by innovations such as creation of new Lightweight Materials, innovative avionics, and more effective engines, which have reduced costs and increased environmental sustainability.
Government programmes to update and modernise airports, aviation infrastructure, and air traffic control systems have also contributed to revenue growth of the Civil Aviation Industry market.
However, rising fuel prices, heightened competition, and strict environmental laws are major factors, which could restrain revenue growth of the market. In a market where there is fierce competition, airline businesses must effectively control their operational costs to stay profitable. A shortage of skilled professionals, such as pilots, maintenance specialists, and air traffic controllers, is other factors, which could hamper revenue growth of the market.
- General Electric
- Honeywell International
- Rolls-Royce Holdings
The global market is further segmented into type and application:
|By Aircraft Type Outlook||
|By Engine Type Outlook||
|By End-use Outlook||
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
To request customization of this report @ https://www.reportsanddata.com/download-free-sample/6047
Thank you for reading our report. We also offer customized report as per client requirement. Kindly connect with us to know more about customization plan and our team will offer you the altered report.
Browse More Reports:
Hyperscale Data Centers Market @ https://www.reportsanddata.com/report-detail/hyperscale-data-centers-market
Construction and Demolition Robots Market @ https://www.reportsanddata.com/report-detail/construction-and-demolition-robots-market
Core Banking Solutions Market @ https://www.reportsanddata.com/report-detail/core-banking-solutions-market
E-passport Market @ https://www.reportsanddata.com/report-detail/e-passport-market
Robo Advisory Market @ https://www.reportsanddata.com/report-detail/robo-advisory-market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
Browse More Latest Reports @ https://www.reportsanddata.com/report