US Aviation Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

US Aviation Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The US Aviation Market is projected to register a CAGR of -0.41%

Key Highlights

• Largest Market by Aircraft Type - Commercial Aviation : Increasing air passenger traffic and its recovery to pre-pandemic levels, coupled with the replacement of existing aircraft with advanced sustainable aircraft, are driving the commercial aviation market.
• Largest Market by Sub-Aircraft Type - Passenger Aircraft : Further liberalization of the aviation market and diverging demographic outlooks are some of the factors driving the growth of passenger traffic, which is boosting the demand for passenger aircraft.

Key Market TrendsCommercial Aviation is the largest segment by Aircraft Type.

• The US aviation market is segmented by type into commercial aircraft, military aircraft, and general aviation. The US aviation industry is mature and well-developed and has the presence of several aircraft OEMs.
• The military aviation segment is benefitted due to the increasing government investment in R&D and the procurement of advanced fighter jets, helicopters, and transport and training aircraft from the local players.
• The United States is one of the largest commercial aviation markets in the world. Despite the COVID-19 pandemic impacting the region's commercial airline industry, the recovery of passenger traffic is anticipated to aid the revival of the US commercial aviation industry.
• According to the International Air Transport Association (IATA), the United States witnessed a 69% decrease in passenger traffic due to the pandemic, resulting in a total loss of USD 130 billion for US airlines.
• The US general aviation market may expand over the forecast period due to an increasing emphasis on improving the infrastructure of private airports and the growing number of HNWIs in the country.
• During the COVID-19 pandemic, there was a decline of 22.4% in business jets and 24.7% in helicopters in terms of aircraft deliveries in 2020. The COVID-19-induced lockdown, along with restrictions on global travel, impacted the US general aviation segment. However, the market is gaining traction in terms of new orders and deliveries and is expected to continue the same trend throughout the forecast period.

Competitive Landscape

The US Aviation Market is fairly consolidated, with the top five companies occupying 84.21%. The major players in this market are Airbus SE, General Dynamics Corporation, Lockheed Martin Corporation, Textron Inc. and The Boeing Company (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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