US Civil Air Patrol Established a Partnership with Textron Aviation (CAP)
In June 2020, the US Civil Air Patrol (CAP) announced an agreement with Textron Aviation. 17 Cessna piston-engine aircraft, including 11 Skyhawk 172S, 5 Skylane 182T, and 1 Turbo Stationair HD T206HD, to be delivered under the terms of the contract. These aircraft will be used, among other things, for homeland security and disaster relief operations.
Increased Use of Software and Hardware Solutions for Health Monitoring could Lead to Enormous Industry Potential
In the coming years, the airline industry will heavily rely on digital solutions like the Internet of Things and big data analytics. The increased cooperation across hardware, software, and integration suppliers to meet business objectives and deliver unbroken services globally may create new market opportunities. In the coming years, deploying AI-based check-in counters at airports and appropriate health screening technology will also improve the industry's growth prospects. Additionally, with big data analytics and the internet of things, airports and airline companies can lower the fixed costs associated with their locations, assisting governments in doing the same while ensuring smooth operations. Over the projected period, these factors are anticipated to improve the growth potential for the airline industry market.
Impact of COVID-19 Limited the Market Expansion
The COVID-19 pandemic's protracted instability has significantly impacted the aviation sector market since it has created issues with cash flow, supply chain obstacles, and chronically low demand for aircraft makers globally. The dramatic fall in demand for passenger air travel due to the COVID-19 epidemic is another important factor imperiling the survival of various enterprises in the aviation sector market. As a result, all international air travel has been halted because of the COVID-19 pandemic outbreak. This will ultimately lead to a decline in the airline industry's market revenue during the epidemic.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the airline industry market plan acquisitions to improve their brand recognition globally. For instance, in October 2022, Alaska Airlines placed an order for 52 Boeing 737 MAX planes as part of a fleet-expansion strategy. The airline industry anticipates having an entirely Boeing mainline fleet by the end of 2023.
- September 2022: The US Navy has awarded Lockheed Martin a firm-fixed contract to build 12 Sikorsky MH-60R Seahawk helicopters for the Royal Australian Navy. The OEM will deliver these 12 helicopters sometime between mid-2025 and mid-2026.
List of Key Players Profiled in the Report
- Air France-KLM S.A.
- American Airlines Group Inc.
- Ana Holdings Inc.
- British Airways Plc
- Delta Air Lines, Inc.
- Deutsche Lufthansa AG
- Hainan Airlines Co., Ltd.
- Japan Airlines Co., Ltd.
- LATAM Airlines Group S.A.
- Qantas Airways Limited
- Ryanair DAC
- Singapore Airlines
- Southwest Airlines Co.
- Thai Airways International PCL
- United Airlines Holdings, Inc.
- WestJet Airlines Ltd
Further Report Findings
- The market in the Asia Pacific is expected to gain a huge portion of the global airline industry market share in the coming years. Due to a rise in demand for air travel, the region's growing economies, like China and India, are seeing a significant increase in their respective civil aviation markets.
- Due to strong local demand, which is assisting the airlines' financial recovery, China is leading in the revival of commercial aviation worldwide.
- In North America, the growth in this region is primarily driven by a large aircraft fleet, a high number of aircraft operators, and a desire for development in the airline industry market are all present in the United States.
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Commercial Airlines, By Destination, and By Geography|
|By Commercial Airlines||