Latest News - Aviation Market: Commercial aviation is expected to lead the Type segment during 2025-2029

The Aviation Market is being driven by Increasing efficiency of airlines

The Aviation Market is expected to grow at a CAGR of 8.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 715.6 billion. RFID, or Radio-Frequency Identification, is a cutting-edge technology that utilizes electromagnetic fields to transfer data wirelessly between tags attached to objects and readers. Two types of RFID tags exist: those with stored data and those powered by electromagnetic induction. In the aviation industry, RFID tags have proven invaluable for aircraft tracking and management. Widely adopted in military, aerospace, and retail sectors, this technology enhances manufacturing efficiency by enabling real-time inventory management of spare parts and ensuring their authenticity. Aircraft maintenance companies leverage RFID to access an aircraft's comprehensive maintenance history and swiftly identify defective parts, thereby minimizing flight delays and cancellations. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Commercial aviation
  • Military aviation
  • General aviation
• Revenue Stream
  • Passenger
  • Freight
• Component
  • Aircraft engines
  • Airframe systems
  • Avionics
  • Cabin interiors
  • Landing gears
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing efficiency of airlines
• Rise in investments in airport infrastructure
• Increase in number of airports and terminals being constructed

However, the market also witnesses some limitations, which are as follows:

• Complexities in supply chain due to growing technological advancement
• Fluctuations in oil and gas prices
• High installation and maintenance costs

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Market Scope in Aviation Market Research Report

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Research Analysis Overview

The aviation industry encompasses various sectors including air cargo and air freight, private jets, aerospace engineering, and manufacturing with advanced technologies like composite materials and additive manufacturing. Satellite navigation, airborne weather radar, and aviation weather services facilitate flight planning and scheduling. Airport security, passenger screening, and operations are crucial for efficient airport management. Risk management, human factors, aviation psychology, law, economics, marketing, tourism, and eco-friendly aviation initiatives are essential components of this dynamic industry.

Market Research Overview

The global aerospace and defense industry comprises businesses involved in the manufacturing of commercial and general aviation aircraft, defense platforms for naval, land, and air applications, as well as space platforms, equipment, and launch vehicles. This sector also includes the provision of aviation services such as air traffic control, passenger services, and cargo services. Furthermore, the industry encompasses defense electronics, arms and ammunition, defense logistics equipment, and space technology. Technavio's market analysis covers the capital goods market size, which is calculated based on the combined revenue generated by manufacturers and providers in industries like aerospace and defense, building and construction, electrical equipment, industrial conglomerates, machinery, trading companies, and distributors. This includes maintenance, repair, and overhaul (MRO) activities for commercial and defense aviation sectors. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: media@technavio.com
Website: www.technavio.com/