Friday, March 8, 2024
The report titled “Global Commercial Aircraft Market Forecast to 2024: Trends, Insights, and Opportunities” is now available on ResearchAndMarkets.com. It highlights a significant recovery in the global commercial aviation sector, with passenger traffic and fleet utilization surpassing 2019’s pre-pandemic figures. Airlines are seeing a return to profitability in 2023, overcoming previous years’ challenges. With the International Air Transport Association (IATA) predicting airline passenger services to outdo pre-pandemic levels by 2024, there’s an expected boost in fleet utilization and revenue per kilometer (RPK).
Despite a bleak profit margin of just over 2% in 2023, amounting to a mere $23 billion and revenue of just $5 per passenger, the industry’s financial outlook for 2024 shows slight improvement, attributed to reduced operational costs.
The anticipated increase in passenger traffic, coupled with supply chain limitations, is set to enhance fleet and capacity utilization, thereby improving yields, profitability, and maintenance, repair, and overhaul (MRO) activities. This is expected to significantly grow MRO revenue in the short to medium term. However, high crude oil prices pose a profitability challenge for airlines, which are also focusing on sustainability initiatives amidst rising interest rates.
The report outlines the industry’s progression from pandemic-induced downturns, with Airbus and Boeing leading efforts to increase production rates despite supply chain challenges. However, it also cautions about potential economic slowdowns in 2024 due to global monetary policy tightening and geopolitical tensions, including the ongoing Russia-Ukraine conflict and tensions in the Middle East, which could further impact the global economy and the aviation sector.
The comprehensive report provides an analysis of the current market scenario, demand growth projections, key industry trends (such as emission reduction and sustainability efforts), challenges, and potential growth opportunities. It also offers a market outlook with projected aircraft deliveries across various segments and regions in the near to medium term, covering key market players like The Boeing Company, Airbus SE, Embraer SA, and ATR.
Sunday, April 28, 2024
Sunday, April 28, 2024
Sunday, April 28, 2024
