Global Wide Body Aircraft Market, By Type (Airframe and Modification, Component, Engine and Line Maintenance), Service (Maintenance Services, Engineering Services, Technical Training, Inventory Management, Freight Conversions and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Wide Body Aircraft Market
The wide body aircraft market is expected to witness market growth at a rate of 4.10% in the forecast period of 2021 to 2028 and is further estimated to reach USD 117,616.8 million by 2028. Data Bridge Market Research report on Wide Body aircraft market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the frequency of business travel is escalating the growth of Wide Body aircraft market.
Wide Body aircraft generally involve two or four engines and are also called as twin-aisle aircraft. Wide Body jet engines have experienced a incredible transformation over the past several years with the development of turbofan engines and application of strategies that encourage fuel economy. The typical fuselage diameter is of 5 to 6 m that is 16 to 20 ft. In the typical Wide Body economy cabin, the passengers are settled seven to ten abreast, tolerating a total capacity of 200 to 850 passengers. The largest Wide Body aircraft are over 6 m that is 20 ft wide and can adjust up to eleven passengers abreast in high-density configurations.
Major factors that are expected to boost the growth of the wide body aircraft market in the forecast period are the swift urbanization. Furthermore, the international trade between the countries and the acceptance of IoT smart sensors and data analytics for advanced effectiveness and less downtime is further anticipated to propel the growth of the Wide Body aircraft market. Moreover, the increase in the demand for MRO outsourcing is further estimated to cushion the growth of the is further anticipated to propel the growth of the Wide Body aircraft market. On the other hand, the dearth of accessibility of skilled workforce is further projected to impede the growth of the wide body aircraft market in the timeline period.
- In addition, the application of AI in MRO will further provide potential opportunities for the growth of the wide body aircraft market in the coming years. However, the rise in the need of technician and increasing technological changes might further challenge the growth of the wide body aircraft market in the near future.
This wide body aircraft market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the wide body aircraft market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
Global Wide Body Aircraft Market Scope and Market Size
The wide body aircraft market is segmented on the basis of type and service. The growth among segments helps you analysed niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the wide body aircraft market has been segmented into airframe and modification, component, engine and line maintenance.
- On the basis of service, the wide body aircraft market has been segmented into maintenance services, engineering services, technical training, inventory management, freight conversions and others.
Wide Body Aircraft Market Country Level Analysis
The wide body aircraft market is analysed, and market size, volume information is provided by country, type and service as referenced above.
The countries covered in the wide body aircraft market report are the U.S., Canada, and Mexico in North America, Brazil, Argentina, and rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
Asia-Pacific dominates the wide body aircraft market due to the rise in the air-traffic. Furthermore, the enhancing of international trade and the growing need for new and advanced aircrafts will further boost the growth of the Wide Body aircraft market in the region during the forecast period.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Wide Body Aircraft Market Share Analysis
The wide body aircraft market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the Wide Body aircraft market.
The major players covered in the wide body aircraft market report are Honeywell Aerospace, Lufthansa Technik, Pratt & Whitney, Rolls-Royce plc, Abu Dhabi Aircraft Technologies, AFI KLM E&M, KLM UK Engineering and Limited, MTU Aero Engines, Singapore Technologies Engineering Ltd, Hong Kong Aircraft Engineering Company Limited, ST Engineering Aerospace, AAR, Airbus S.A.S., Delta TechOps, Aircraft Engineering Company Limited, GENERAL ELECTRIC, L3Harris Technologies, Inc. and SIA Engineering Company among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.