Commercial aircraft are those that are flown for rent. This is not the same as private aviation, which is for personal use. It transports passengers, cargo, and passengers' belongings. Despite hurdles, commercial aviation is developing. Commercial aircraft demand is driven by the growth of the middle class. Airline industry changes also affect the commercial aircraft market. New aircraft technology allows airlines to expand their service areas. New engine programs in the commercial aviation sector grew along with consumer preferences. Also, the global commercial aircraft market is expected to be hampered by a growing number of aircraft cancellations or delays, a rise in airlines' fixed costs, a decline in aircraft orders and cancellations, an increase in terrorism and a lack of security, and air traffic congestion and delays.
Globally, Commercial Aircraft Market is estimated to observe a compound annual growth rate (CAGR) of 5.3% from 2022 to 2030.
Major Players in the Commercial Aircraft Industry:
1. Airbus SE
Airbus SE is a European multinational aerospace corporation, founded in 1970 and is headquartered in Netherlands. It operates in 35 countries. In April 2023, Airbus and the Chinese aviation industry agree on the next step in their partnership.
2. The Boeing Company
The Boeing Company is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide. It was founded in 1916 and is headquartered in Virginia, U.S. It operates in more than 150 countries. In April 2023, Boeing announced to partner with the Invictus Games even more to help wounded veterans and also to support the Invictus Games and the injured servicemen who inspire.
3. Embraer SA
Embraer SA is a Brazilian multinational aerospace manufacturer that produces commercial, military, executive and agricultural aircraft and provides aeronautical services. It was founded in 1969, and is headquartered in Sao Paulo, Brazil. Its clients are in 70 countries around the world. In April 2023, delivered a total of 15 jets in the first quarter of 2023, of which seven were commercial aircraft and eight were executive jets. In March 2023, despite setbacks, the Brazilian aircraft manufacturer Embraer remains committed to the development of a new turboprop aircraft. Embraer's commercial aircraft division has reassured the public that the company has not abandoned the project despite the dearth of a clean and environmentally friendly engine.
4. ROSTEC
ROSTEC a Russian state-owned defense conglomerate, founded in 2007 and is headquartered in Moscow. It operates in over 70 countries worldwide. In December 2022, Russia plans to complete the first PD-14-powered MC-21-310 in 2024. Russia's aerospace industry hopes to build over 300 aircraft in the next two years despite sanctions over the Ukrainian crisis. As airframers catch up on sanction-related aircraft delays, helicopters will dominate 2023 manufacturing.
5. ATR
ATR is a Franco-Italian aircraft manufacturer, founded in 1981 and is headquartered in Blagnac, France. It operates in 100 countries across the world. In 2023, ATR expects to deliver more than 40 new and used aircraft in 2023. Also, ATR resumed growing after three challenging years due to the global air transport crisis caused by the COVID-19 pandemic. ATR delivered 25 new and 11 secondhand aircraft in 2022 amid industry change.
6. Commercial Aircraft Corporation of China Ltd.
Commercial Aircraft Corporation of China Ltd. or The COMAC is a Chinese state-owned aerospace manufacturer founded in 2008 and is headquartered in Shanghai, China. It is a Chinese country-owned aerospace producer.
7. Mitsubishi Aircraft Corporation
Mitsubishi Aircraft Corporation abbreviated MITAC, was a Japanese company that develops, produces, sells and supports the Mitsubishi SpaceJet (formerly MRJ) passenger airliners, founded in 2008 and is headquartered in Japan. MITAC has offices in Amsterdam, the Netherlands, and Renton, Washington, which are both abroad. In Feb 2023, Mitsubishi abandoned its long-held ambition to introduce Japan's first advanced jetliner due to a lack of profitability.
Definition: A commercial aircraft is any aircraft transporting passengers and/or cargo for some payment or other consideration, including money or services rendered.
