The used aircraft market share will post an incremental growth of USD 1.34 billion, progressing at a CAGR of 7.02% during the forecast period. The growth in the number of low-cost carriers will offer immense growth opportunities to market vendors. The used aircraft market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Used Aircraft Market by Product and Geography - Forecast and Analysis 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The used aircraft market is segmented by product (0-15 yr, 16-30 yr, and more than 30 yr) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The growth of the used aircraft market size in the 0-15 yr segment will be significant during the forecast period. Factors such as high demand for private jets and small passenger aircraft from developing countries will contribute significantly to this segment during the forecast period.
By geography, 43% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for used aircraft in North America.
The growth in the number of low-cost carriers will directly influence the sales of the used aircraft market . In addition, the increasing demand from developing countries is one of the major used aircraft market trends that will positively impact the market growth. However, factors such as the high maintenance and operation costs will hamper the used aircraft market growth.
The market is fragmented due to the presence of several players. Some of the major used aircraft market vendors are Airbus SE, BN Group Ltd., Bombardier Inc., Breezer Aircraft GmbH and Co. KG, Cirrus Design Corp., Dassault Aviation SA, Deutsche Aircraft GmbH, Diamond Aircraft Industries GmbH, Embraer SA, General Dynamics Corp., Lancair International LLC, Piper Deutschland AG, and Textron Inc.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the used aircraft market forecast during 2022-2026
Market-level data on units, average selling prices, and values of the used aircraft market share.
Prediction on the upcoming trends, drivers, and factors that challenge the growth of the used aircraft market .
Used aircraft market industry growth across North America, Europe, APAC, South America, and Middle East and Africa.