North American Aviation Market Size
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 81.77 Billion |
| Market Size (2029) | USD 94.34 Billion |
| CAGR (2024 - 2029) | 2.90 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North American Aviation Market Analysis
The North America Aviation Market size is estimated at USD 81.77 billion in 2024, and is expected to reach USD 94.34 billion by 2029, growing at a CAGR of 2.9% during the forecast period (2024-2029).
An increase in low-cost carriers (LCCs) and ultra-low-cost carriers (ULCCs) has disrupted the traditional airline business model. These carriers offer competitive fares, enticing a larger customer base and expanding air travel accessibility to more people.
The presence of various aircraft manufacturers has led to the maturation of the aviation industry across North America. The defense industry has also benefited from government investments in introducing advanced defense solutions and research and development capabilities for helicopters and fighter jets. Procuring advanced fighter jets, transport and trainer aircraft, and helicopters from regional players has also contributed significantly to market growth. With fuel prices increasing, companies are expected to experience increased operating costs. Fuel surcharges add USD 600 to over USD 1,000 per hour, depending on aircraft types and fuel price changes. Due to this, companies have to transfer the costs to the consumers, which increases trip costs or cuts their profit margin. Such factors hamper the market's growth.
Moreover, the growth of the general aviation market in the region is anticipated to be supported by the growing focus on improving private airport infrastructure and favorable regulatory changes during the forecast period.
North American Aviation Market Trends
The Commercial Aircraft Segment is Expected to Witness Significant Growth During the Forecast Period
The commercial aircraft segment is expected to witness significant growth in the North American aviation market during the forecast period. The need for passenger planes mainly fuels this increase as domestic trips continue to rise.
Expansion of airline fleets, rising desire for fuel-efficient planes, growth in air travel, and the industry's shift toward the zero-emission 2050 target are driving the demand for commercial aircraft. By August 2023, 1,474 Boeing and 986 Airbus aircraft were expected to be delivered in the region. The United States is the sole owner of 2,405 aircraft awaiting delivery. Therefore, the country is anticipated to experience significant growth over the forecast period.
Leading airlines like American Airlines, Delta Air Lines, and United Airlines have significant aircraft deliveries scheduled for 2024, and cargo companies like Air Canada are rapidly growing and updating their fleets. In January 2024, Delta Air Lines selected Airbus to fulfill its requirements for new, fuel-efficient widebody aircraft by ordering 20 A350-1000 planes. Delta Air Lines has over 450 Airbus aircraft in operation and more than 200 on order. These advancements are projected to fuel expansion in the commercial aircraft industry over the forecast period.
The United States is Expected to Witness Significant Growth During the Forecast Period
The United States is anticipated to experience notable expansion in the coming years, as it ranks among the biggest aviation markets globally. In response to the growing need for air travel, multiple US airlines are enhancing their fleets and acquiring technologically advanced aircraft. In June 2023, United Parcel Service announced its intention to increase its fleet by incorporating 55 aircraft within the next two years. Most of these will be small feeder planes operated by contractors, and the company also aims to introduce an additional eight B777F aircraft between 2023 and 2025.
In addition to civil aviation, the United States allocates most of its funds to its military. As per the SIPRI, the US military spending rose by around 2.3% in 2023, totaling USD 916 billion, solidifying its position as the top defense spender globally, accounting for 37% of worldwide expenditure. The United States is projected to experience consistent growth in the defense industry in the next ten years, as it intends to upgrade its outdated fighter jets with more advanced versions. The US Marine Corps plans to acquire approximately 340 F-35B and 80 F-35C models to replace the AV-8B Harrier II and old F/A-18 Hornet jets.
In April 2024, the United States bought 81 Soviet-era fighter and bomber planes from Kazakhstan, which sold 117 military aircraft in an auction, including MiG-31 interceptors, MiG-27 fighter bombers, MiG-29 fighters, and Su-24 bombers. In conclusion, these developments are expected to expand the market throughout the forecast period.
North American Aviation Industry Overview
The aviation market in North America includes major companies like The Boeing Company, Airbus SE, Lockheed Martin Corporation, Textron Inc., and General Dynamics Corporation. Due to the existence of these large aircraft manufacturers, the market has become very competitive. Moreover, this area is a focal point for international aerospace suppliers because most of the aircraft production across the world is located here, where they have manufacturing, sales, and support establishments.
To control the aviation market in the region, the companies use various growth tactics, including implementing new approaches, expanding offerings, improving workforce efficiency, acquiring supply chain partners, merging with other companies, entering new markets, and offering competitive prices. Cooperation and alliances are crucial growth tactics that aerospace manufacturers in North America embrace. Many of them work with international companies to exchange knowledge and skills to create new technologies and products.
North American Aviation Market Leaders
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The Boeing Company
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Airbus SE
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Lockheed Martin Corporation
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General Dynamics Corporation
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Textron Inc
*Disclaimer: Major Players sorted in no particular order
North American Aviation Market News
March 2024: The US Navy purchased 17 Super Hornets in a deal worth USD 1.1 billion. The agreement comprised phase one of the EA-18G and F/A-18E/F technical data package, which contains operation, maintenance, installation, and training information to support Navy F/A-18 and EA-18G maintenance efforts. The aircraft will start delivering to the Navy at the end of 2026 and should be finished by 2027.
September 2023: Air Canada ordered 18 Boeing 787-10 planes and has the potential to order 12 additional aircraft. The planes are expected to be delivered from the end of 2025 until the first quarter of 2027. The airline stated that the aircraft will replace older, less efficient wide-body planes.
North America Aviation Market Report - Table of Contents
1. Introduction
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. Market Segmentation
5.1 Type
5.1.1 Commercial Aircraft
5.1.1.1 Passenger Aircraft
5.1.1.2 Freighter Aircraft
5.1.2 Military Aircraft
5.1.2.1 Combat Aircraft
5.1.2.2 Non-combat Aircraft
5.1.3 General Aviation
5.1.3.1 Helicopter
5.1.3.2 Piston Fixed-wing Aircraft
5.1.3.3 Turboprop Aircraft
5.1.3.4 Business Jet
5.2 Geography
5.2.1 United States
5.2.2 Canada
6. Competitive Landscape
6.1 Vendor Market Share
6.2 Company Profile
6.2.1 Airbus SE
6.2.2 Lockheed Martin Corporation
6.2.3 The Boeing Company
6.2.4 General Dynamics Corporation
6.2.5 Textron Inc.
6.2.6 Embraer SA
6.2.7 Bombardier Inc.
6.2.8 Pilatus Aircraft Ltd
6.2.9 Leonardo SpA
6.2.10 Dassault Aviation SA
6.2.11 Piper Aircraft Inc.
6.2.12 Honda Aircraft Company
7. Market Opportunities and Future Trends
North American Aviation Industry Segmentation
The North American aviation market report includes details of fixed-wing aircraft and rotorcraft in the commercial, military, and general aviation industries. It also provides an overview of aircraft orders and deliveries, air passenger traffic, defense expenditure analysis, investments by countries in the aviation industry in the region, and the introduction of new routes.
The North American aviation market is segmented into type and geography. By type, the market is segmented into commercial aircraft (passenger and freighter aircraft), military aircraft (combat and non-combat aircraft), and general aviation (helicopter, piston fixed-wing aircraft, turboprop aircraft, and business jet). The report also offers the market size and forecasts for two regional countries. For each segment, the market sizes and forecasts are provided in terms of value (USD).
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North America Aviation Market Research FAQs
How big is the North America Aviation Market?
The North America Aviation Market size is expected to reach USD 81.77 billion in 2024 and grow at a CAGR of 2.9% to reach USD 94.34 billion by 2029.
What is the current North America Aviation Market size?
In 2024, the North America Aviation Market size is expected to reach USD 81.77 billion.
Who are the key players in North America Aviation Market?
The Boeing Company, Airbus SE, Lockheed Martin Corporation, General Dynamics Corporation and Textron Inc are the major companies operating in the North America Aviation Market.
What years does this North America Aviation Market cover, and what was the market size in 2023?
In 2023, the North America Aviation Market size was estimated at USD 79.40 billion. The report covers the North America Aviation Market historical market size for years: . The report also forecasts the North America Aviation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North American Aviation Industry Report
Statistics for the 2024 North American Aviation market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North American Aviation analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
