Press Release
Press Release
According to a new report by EMR titled, ‘The Australia Aviation Market Report and Forecast 2024-2032’, the market is estimated to grow at a CAGR of 3.5% between 2024 and 2032. The market benefits from strong growth in the air transport sector and increasing efforts to enhance sustainability within aviation.
The growth of Australia's aviation market is fueled by the rapid transportation and growth witnessed by the air transport sector along with the increasing travel and tourism across the country. Aviation encompasses aircraft-related activities spanning military aviation, airlines, aircraft manufacturing, and air travel services. Military aviation involves aircraft operations for defense purposes, while civil aviation covers non-governmental and non-military applications. As of 2023 in Australia, the aviation sector employs 176,000 directly and supports another 138,000 through local suppliers. Additionally, it indirectly supports 82,000 jobs through employee spending. Foreign tourists arriving by air contribute to 320,000 jobs, totaling 716,000 jobs supported by air transport and tourism spending in Australia.
Fig: Active Airbus and Boeing fleet in Australia (Comparisons Across the February Period in 2019, 2023 and 2024)
The air transport sector significantly contributes to Australia's economy and serves as a major employer. With increasing domestic and international travel, the Australian aviation market is experiencing growth. Additionally, investments in airport infrastructure and expanding aviation capacity are further fueling market expansion.
The growth of the Australian aviation market is driven by advancements in aviation technologies, particularly artificial intelligence (AI). These technologies are poised to enhance aircraft maintenance, flight safety, customer experience, system reliability, and pilot training. Furthermore, the emergence of autonomous aircraft promises improved safety, reduced human error risks, and lower operating costs, all of which are expected to boost market demand in the foreseeable future.
Air transport serves as a vital link connecting Australia with global cities, facilitating rapid connections that drive economic activity. These connections support the flow of goods, investments, people, and ideas crucial for economic growth. Despite a seasonal decline in domestic flights, international flights surged by 10.5% in December 2023. Heightened leisure travel around Christmas led to the highest daily passenger flights in four years on 22 December 2023, underscoring the sector's resilience and importance.
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The major players in the Australia aviation market are Airbus SE, Dassault Aviation SA, Lockheed Martin Corporation., Northrop Grumman Corp., Bombardier Inc., General Dynamics Corporation, The Boeing Company, Leonardo S.p.A., Cirrus Design Corporation (Cirrus Aircraft), Pilatus Aircraft Ltd., Textron Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Aviation Type |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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