Regional Jet Market

Regional Jet Market

Growth Factors of Regional Jet Market

The regional jet market size was valued at USD 12.62 billion in 2023, and the market is now projected to grow from USD 13.47 billion in 2024 to USD 19.58 billion by 2032, exhibiting a CAGR of 4.8% during the forecast period of 2024-2032.

Pandemic has had a negative influence on the market. Key stakeholders are facing manufacturing disruptions, aircraft order cancellations, poor demand, and partnership cancellations.

Regional plane producers depend closely on current, technologically superior plane for fulfillment. This improves the in-flight enjoy for passengers, main to accelerated call for and benefits. Adopting new and higher generation can decrease working expenses via decreasing fuel consumption, maintenance charges, and airport fees. This will gain both tourists and airways. Manufacturers' awareness on state-of-the-art avionics and flight control structures drives regional jet market growth.

Over the past two decades, OEMs have shifted their attention from building nearby plane to improving cabin comfort for a smoother passenger revel in. OEMs prioritize noise reduction, introducing modern-day era into engines and airframes. Leading market competitors are launching smaller, greater gas-efficient planes to promote sustainability and cut carbon emissions, further to enhancing passenger consolation and pleasure. Trends impacting the industry consist of lighter and more potent substances, in addition to better avionics technology.

Comprehensive Analysis of Regional Jet Market

The market for regional jets is segmented into military and commercial aircraft. The commercial segment has been dominant for the past 30 years, with the commercial segment expected to lead for another decade due to the rising procurement of latest generation aircraft. Military jets use regional aircraft for surveillance, electronic warfare, and VIP travel due to their lower maintenance cost, efficiency, and ability to take off and land on shorter runways. The market is also divided into turboprop and turbofan engines, with turbofan engines being more efficient and environmentally friendly. Seating capacity is also a key factor, with aircraft with 80-125 seats dominating the market. The market is also divided into aircraft with a Maximum Take-off Weight (MTOW) between 20,000 lbs to 80,000 lbs and 81,000 lbs to lbs.

The North America region lead the regional jet market share by benefitting a market size of USD 4.56 billion in 2023 led by prominent firms like de Havilland (Bombardier). The growing use of aerial vehicles for business purposes is driving the regional market's expansion. Delta and American Airlines have among of the largest regional aircraft fleets. The region has extensive assembly lines for various aircraft sizes and purposes.

The market is ruled by American and European corporations like De Havilland, Embraer, and Airbus S.A.S. They offer aftermarket services and operation assistance worldwide. Key competition consists of affordability, technical and management functionality, passenger safety, and ecological solutions. The Ilyushin II-114-300 is a Russian dual-engine turboprop airliner designed for neighbourhood routes, geared up with ski and wheel landing tools for the Arctic Region. The improvement software aims to provide three II-1 14 aircraft by way of 2021 using Russian-produced additives, aiming to create more jobs and increase revenue. Other key organizations encompass Leonardo Spa, Mitsubishi Heavy Industries, De Havilland Aircraft of Canada Ltd, Commercial Aircraft Corporation of China, United Aircraft Corporation, and Antonov Company.

In March 2024, American Airlines Group ordered 133 Embraer aircraft to accommodate growing demand for domestic flights and operations in the United States. The rising demand for regional aircraft in the United States is driven by increased flight frequency from public and passenger transportation.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 4.8% over 2024 to 2032

Unit Value (USD billion)

Segmentation By Platform

- Commercial Aircraft

- Military Aircraft

By Engine Type

- Turbofan Engine

- Turboprop Engine

By Seating Capacity

- 35-80 Seats

- 80-125 Seats

By Maximum Take-off Weight

- 20,000 lbs to 80,000 lbs.

- 81,000 lbs to 1,60,000 lbs.

By Geography

- North America (Platform, Engine, Seating Capacity, MTOW and Country)

• U.S. (By Platform)
• Canada (By Platform)

- Europe (Platform, Engine, Seating Capacity, MTOW and Country)

• U.K. (By Platform)
• Germany (By platform)
• France (By Platform)
• Russia (By Platform)
• Rest of Europe (By Platform)

- Asia Pacific (Platform, Engine, Seating Capacity, MTOW and Country)

• Japan (By Platform)
• China (By Platform)
• India (By Platform)
• Australia (By Platform)
• Rest of Asia Pacific (By Platform)

- Rest of the World (Platform, Engine, Seating Capacity, MTOW and Region)

• South America (By Platform)
• Middle East & Africa (By Platform)


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