US Aviation Market Growth, Size, Share, Industry Report and Forecast 2019-2025

Posted October 20, 2020 by mansi3210

US Aviation Market Size, Share & Trends Analysis Report by Type , Impact of COVID-19 on US Aviation Industry, and Forecast 2019-2025
US aviation industry is expected to see a CAGR of 3.3% during the period (2019-2025). The US is expected to hold a significant market share in the aviation industry. Before the COVID-19 outbreak, the factors that drive the aviation industry in the US were high disposable income, a large proportion of high-income groups coupled with a high number of passengers traveled from airplanes. The US confirmed its first case of the COVID-19 on January 21, 2020. After that the government-imposed lockdown across the country to contain the infection. The US is among the highly affected economy due to the outbreak of COVID-19. To date (June 28, 2020), there are around 2.6 total cases and 128,437 mortalities caused by the COVID-19 pandemic as per Similar to other industries, the aviation industry is also negatively affected by the COVID-19 pandemic in the US. The decline in the number of domestic and international flights for passengers further impacted the aviation industry in the country. As per ICAO, the total number of flights in the US was around 6.6 million till May in 2019 that further declines to 5.5 million till May in 2020.

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US aviation industry is segmented into passenger airlines, cargo airlines, aircraft manufacturing, airport management, and catering & other services. Based on the segmentation, the passenger airline segment is anticipated to get highly affected along with catering & other services. Passenger airline is the largest segment contributing to the aviation industry. The cargo airline segment in North America is showing the highest CAGR of 4.8% during the forecast period.

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Moreover, the major US-based aviation companies such as The Boeing Co., American Airlines Group Inc., and United Airlines, Inc., are facing the significant impact of the COVID-19 outbreak that further affect the aviation industry in the country. For instance, the Boeing Co. faced a huge loss, that is, it planned out to reduce 10% of its workforce as well as reduce the production of its various commercial jet models. The company had a net loss of approximately $642 million due to the pandemic and the grounding of the 737 MAX aircraft fleet due to the virus spread in the first quarter of 2020. Moreover, American Airlines Group has witnessed a loss of $ 2.2 billion in the first quarter of 2020. The company reduced its overall capital and other operational expenses by $12 billion in 2020. Whereas, the company faced a 90% slump in the second quarter’s revenue.

Verticals Affected Most

• Cargo Airlines
• Passenger Airlines
• Aircraft Manufacturing
• Airport Management
• Catering & Other Services

Company Profiles

• Alaska Airlines
• Allegiant Travel Co.
• American Airlines Group Inc.
• Delta Air Lines, Inc.
• Hawaiian Airlines
• Indigo Partners, LLC
• JetBlue Airways
• The Boeing Co.
• United Airlines, Inc.
• WestJet Airlines Ltd.

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Categories Aerospace , Automotive , Transportation
Tags Automotive and Transportation , Market Research , market analysis , Market Forecast
Last Updated October 20, 2020