Global Commercial Aircraft Manufacturing - Market Research Report (2014-2029)
New York, United States
Last Updated: October 2024
C2543-GLRevenue
$300.5bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
1m
Businesses
11,630
Wages
$XX.Xbn
Global Commercial Aircraft Manufacturing industry analysis
The industry experienced a strong decline during the pandemic, with a staggering 70% drop in air travel primarily driven by social distancing measures and a global economic shock. This led to substantial revenue losses for airlines and lowered demand for new aircraft. However, the industry began recovering post-pandemic, aided by relaxed restrictions, economic stimulus packages and lower interest rates, which made borrowing for capital more affordable. Ultimately, the industry reached double-digit growth in 2023 but slowed down to 4.6% growth in 2024 due to mounting logistical and economic challenges.
Trends and Insights
- The global decline in air travel reshaped the industry landscape. In 2020, as the pandemic took hold, international tourism plummeted by nearly 70%, severely affecting airlines' financial health and leading to substantial losses and shifts in operation strategies.
- Environmental regulations drive engine innovation. Stringent environmental standards are pushing for advancements in aircraft engine technology, leading to the development of more efficient and less polluting engines. Airlines are investing in these new technologies to adhere to regulatory demands.
- North America leads aircraft manufacturing with technology and partnerships. The region's strength comes from industry giants like Boeing and GE Aviation, complemented by strategic partnerships and a robust supply chain that propel innovation and productivity.
- Challenging entry barriers shape the commercial aircraft industry. Commercial aircraft manufacturing is characterized by high entry barriers, including significant capital requirements and extensive regulatory certifications that exceed typical industry standards.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 3.9 % over the past five years, to reach an estimated $300.5bn in 2024.
Trends and Insights
The industry took a deep dive early in the period due to a sharp decline in air travel
- The pandemic caused an unprecedented shock to global demand for air travel, creating a challenge to commercial air carriers. With global tourism declining by nearly 70% in 2020, the industry saw a sharp decline in revenue.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Growth in developing economies will expand the market for commercial aircraft
- The rapid economic growth in developing economies is set to expand the market for commercial aircraft. As disposable incomes rise and urbanization accelerates, demand for air travel will increase. This growth will drive airlines in these regions to expand their fleets with new aircraft to meet rising passenger volumes.
Biggest companies in the Global Commercial Aircraft Manufacturing
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Airbus SE | 55,648.0 | 4,294.0 | 7.7 | |
The Boeing Company | 33,901.0 | -1,635.0 | -4.8 | |
GE Aviation | 31,770.0 | 6,115.0 | 19.2 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Aircraft Manufacturing, Aircraft Engine and Engine Parts and Aircraft Parts and Auxiliary Equipment. Aircraft Manufacturing is the largest segment of the Global Commercial Aircraft Manufacturing.
Trends and Insights
Air travel growth and fleet modernization propel demand for new aircraft
- The aircraft segment encompasses the complete assembly of commercial airplanes, such as jets and regional aircraft used by airlines. This includes the structural airframe, avionics and integrated systems that ensure flight safety and regulatory compliance. Demand for this segment is driven by global air travel growth, fleet expansion needs and technological advancements in fuel efficiency.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Global Ship & Boat Building
- Global Heavy-Duty Truck Manufacturing
Complementors
- Global Computer Hardware Manufacturing
- Global Airlines
- Global Cargo Airlines
International industries
- Aircraft, Engine & Parts Manufacturing in Canada
- Aircraft Manufacturing and Repair Services in Australia
- Aircraft Manufacturing and Repair Services in New Zealand
- Aircraft, Engine & Parts Manufacturing in the UK
- Aircraft Repair, Maintenance & Overhaul in the UK
Table of Contents
About this industry
Industry definition
The Global Commercial Aircraft Manufacturing industry produces complete civilian aircraft, including aerospace engines, propulsion units, auxiliary equipment and parts. Prototypes of aerospace products, aircraft conversions and complete aircraft or propulsion systems overhaul and rebuilding are also included. Military aircraft manufacturing and related services are not included in this industry.
What's included in this industry?
Manufacturing aircraftManufacturing aerospace engines, propulsion units, auxiliary equipment or partsDeveloping aircraft prototypesManufacturer repair, maintenance and related servicesComplete aircraft or propulsion systems overhauling and rebuildingCompanies
Airbus SEThe Boeing CompanyGE AviationPurchase this report to view all 4 major companies in this industry.
Related Terms
WIDE-BODY AIRCRAFTNARROW-BODY AIRCRAFTREGIONAL AIRCRAFTORIGINAL EQUIPMENT MANUFACTURER (OEM)MAINTENANCE, REPAIR AND OVERHAUL SERVICES (MRO)Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The global decline in air travel reshaped the industry landscape. In 2020, as the pandemic took hold, international tourism plummeted by nearly 70%, severely affecting airlin...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Environmental regulations drive engine innovation. Stringent environmental standards are pushing for advancements in aircraft engine technology, leading to the development of...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
North America leads aircraft manufacturing with technology and partnerships. The region's strength comes from industry giants like Boeing and GE Aviation, complemented by str...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Business Locations Charts
- Share of global output by region in 2024
- Share of population compared to output in each region in 2024
- Data tables
- Share of global output by region in 2024
- Detailed analysis
- Geographic spread of the industry across Global, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Challenging entry barriers shape the commercial aircraft industry. Commercial aircraft manufacturing is characterized by high entry barriers, including significant capital re...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Boeing faces intense scrutiny and operational challenges. The company is under pressure due to safety concerns and labor disputes, significantly impacting its operational eff...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Airbus SE's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of The Boeing Company's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of GE Aviation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Airbus SE, and factors influencing its performance in the industry
- Description and key data for The Boeing Company, and factors influencing its performance in the industry
- Description and key data for GE Aviation, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Government incentives stimulate sector growth. US and European governments provide tax reliefs, R&D credits and direct funding to aircraft manufacturers, enhancing their comp...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
The commercial aircraft industry faces financial headwinds. Despite recovery efforts post-pandemic, profit margins have not returned to previous levels, indicating continued ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources globally include:
- United Nations Comtrade
- Organization for Economic Cooperation & Development
- World Bank
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Global Commercial Aircraft Manufacturing industry in Global in 2024?
The market size of the Global Commercial Aircraft Manufacturing industry in Global is $300.5bn in 2024.
How many businesses are there in the Global Commercial Aircraft Manufacturing industry in 2024?
There are 11,630 businesses in the Global Commercial Aircraft Manufacturing industry in Global, which has grown at a CAGR of 2.3 % between 2019 and 2024.
Has the Global Commercial Aircraft Manufacturing industry in Global grown or declined over the past 5 years?
The market size of the Global Commercial Aircraft Manufacturing industry in Global has been declining at a CAGR of 3.9 % between 2019 and 2024.
What is the forecast growth of the Global Commercial Aircraft Manufacturing industry in Global over the next 5 years?
Over the next five years, the Global Commercial Aircraft Manufacturing industry in Global is expected to grow.
What are the biggest companies in the Global Commercial Aircraft Manufacturing market in Global?
The biggest companies operating in the Global Commercial Aircraft Manufacturing market in Global are Airbus SE, The Boeing Company and GE Aviation
What does the Global Commercial Aircraft Manufacturing in Global include?
Manufacturing aircraft and Manufacturing aerospace engines, propulsion units, auxiliary equipment or parts are part of the Global Commercial Aircraft Manufacturing industry.
Which companies have the highest market share in the Global Commercial Aircraft Manufacturing in Global?
The company holding the most market share in Global is Airbus SE.
How competitive is the Global Commercial Aircraft Manufacturing industry in Global?
The level of competition is moderate and increasing in the Global Commercial Aircraft Manufacturing industry in Global.
