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

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

The Japan Aviation Market is projected to register a CAGR of 12.31%

Key Highlights

• Largest Market by Aircraft Type - Commercial Aviation : Increasing air passenger traffic and its recovery to pre-pandemic levels, coupled with replacing existing aircraft with advanced sustainable aircraft, is driving the commercial aviation market.
• Largest Market by Sub-Aircraft Type - Passenger Aircraft : Increasing the international reach of the country's airlines to match ongoing passenger traffic is anticipated to drive the market from 2022 to 2028.

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

• The commercial aviation industry, comprising airlines and their supply chains, is estimated to contribute USD 72.1 billion to Japan's GDP during the forecast period. In all, inputs to the air transport sector and foreign tourists coming by air support 2.4% of the country's GDP.
• Japan is one of the world's strongly growing commercial aviation markets, despite the COVID-19 epidemic impacting the region's commercial airline industry. The recovery of passenger traffic is anticipated to aid in the revival of Japan's commercial aviation industry. Japan witnessed a total increase of 139% in Air Passenger traffic in 2021. The rise in passenger traffic is due to ease in border restrictions.
• Factors such as the increasing rate of HNWIs, training schools, the government's focus on developing business jet infrastructure, and deregulation activities are expected to drive the growth of general aviation in Japan during the forecast period.
• Charter operators in the country are constantly expanding their routes and are adding new aircraft to their fleets, driven by the growing need for non-scheduled business travel. This has helped the demand for business jets and turboprops in Japan. On the other hand, the demand for light sport and trainer aircraft remained high, contributing to the general aviation fleet growth.
• Japan's Defense Ministry proposed a budget for fiscal 2022 of more than USD 49.3 billion at the beginning of 2021, which is a record and potentially exceeds the long-standing cap of 1% of GDP. By 2027, Japan might be the world's third-largest defense spender, after only the United States and China.

Competitive Landscape

The Japan Aviation Market is fairly consolidated, with the top five companies occupying 96.59%. The major players in this market are Airbus SE, ATR, 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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