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| Commercial Aircraft Market |
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The global commercial aircraft market is analyzed on the basis of
parameters such as components, aircraft type, and geographic regions.
Of the different component types, the jet engine segment contributed
a significant revenue share in the overall market in 2012. Jet
engines used to power an aircraft are classified as turbofan and
turboprop engines. Of these, the market for turbofan engines that
offer better efficiency and speed at higher altitudes is expected to
record steady growth as compared to turboprop engines. Furthermore,
development of fuel-efficient engines has resulted in replacement of
currently in-use jet engines.
Other than engines, aircraft components include airframe, systems,
interior, avionics, and landing gear. In 2012, landing gear recorded
the highest market revenue share as compared to other components. On
the basis of size, aircrafts are classified as large wide-body,
medium wide-body, small wide-body, regional jets, and business jets.
The single-aisle or narrow body aircrafts and large wide-body
aircrafts are expected to emerge as key segments which will drive the
demand for commercial aircraft market. The demand for a particular
aircraft type depends on the duration/length of travel which is
classified as short haul or long haul. Narrow body aircrafts are
preferred by low cost carriers (LCC) that operate on short routes
with high traffic for budget travelers. These routes often connect
domestic locations in a given country. Demand for large wide-body
aircrafts is higher for routes with high traffic, often connecting
international destinations. In 2012, of the different types of
aircrafts, regional jets propelled with turbofan engines used for
short haul travel, recorded the highest percentage revenue
contribution. This was primarily due to rise in domestic travel
across countries such as Canada, U.S., and Mexico.
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Geographically, North America dominated the global commercial
aircraft market in 2012 followed by Europe that accounted for 38%
revenue share in the same year. Further, the Asia-Pacific region with
entry of low-cost airlines, rise in disposable income of middle class
people, and infrastructure development across countries such as
China, Singapore, and India, is expected to record faster growth as
compared to other regions during the forecast period. .
The commercial aircraft market is dominated by players such as Boeing
Company, Airbus S.A.S., Bombardier Inc., GE Aviation (subsidiary of
General Electric), Embraer S.A., Rolls-Royce Holding Plc., Pratt and
Whitney (subsidiary of UTC Corp.), and BAE Systems. Of these, Boeing
Company and Airbus S.A.S. hold a significant revenue share in the
global commercial aircraft market. Rolls-Royce Holding Plc., Pratt
and Whitney, and CFM International are identified as key players in
the engine sector.
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