The Business Research Company’s Air Transport Global Market Report 2021: COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, August 25, 2021 /EINPresswire.com/ — According to the new market research report ‘Air Transport Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the air transport market is expected to grow from $5.71 trillion in 2020 to $6.49 trillion in 2021 at a compound annual growth rate (CAGR) of 13%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $8.33 trillion in 2025 at a CAGR of 6%.
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The air transport services market consists of sales of air transportation services and related goods by entities (organizations, sole traders and partnerships) that use aircraft, such as airplanes and helicopters, to provide air transportation of passengers and/or cargo. The market includes services offered by both scheduled and nonscheduled air carriers. Revenues from the sales of auxiliary in-flight services such as meals, snacks, beverages, and duty-free shopping, provided by companies are also included in this market. Scenic and sightseeing air transportation and air courier services are not included in the air transport services market.
Trends In The Global Air Transport Market
The use of analytics is rapidly growing in the aviation industry to capture critical insights from customers and operations data. It allows airlines to offer personalized services to its customers by using data analytics tools at every customer touch point. The growing use of analytics in the aviation industry is mainly a result of increasing competition between airlines. As a result, commercial airlines are looking to enhance customer satisfaction levels by analyzing parameters such as ticket sales and passenger profile and purchase history. For instance, Chicago-based United Airlines analyzes 150 variables in a customer profile to offer a more personalized offer. Major companies using analytics in the aviation industry are Southwest Airlines, Delta Airlines, United Airlines.
Global Air Transport Market Segments:
The global air transport market is further segmented based on type, distance and geography.
By Type: Passenger Air Transport, Chartered Air Transport, Air Cargo Services
By Distance: Long-Distance, Short-Distance
Subsegments covered: Domestic Air Passengers, International Air Passengers, Passenger Chartered Air Transport, Freight Chartered Air Transport, Others – Chartered Air Transportation, Air Mail, Air Freight
By Geography: The global air transport market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific air transport market accounts for the largest share in the global air transport market.
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Air Transport Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides air transport market overviews, analyzes and forecasts market size and growth for the global air transport market, air transport market share, air transport market players, air transport market segments and geographies, air transport market’s leading competitors’ revenues, profiles and market shares. The air transport market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Air Transport Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Air Transport Market Organizations Covered: American Airlines Group, Delta Air Lines, United Continental Holdings, Lufthansa Group, FedEx.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Here is a list of reports from The Business Research Company similar to the Air Transport Global Market Report 2021:
Passenger Air Transport Global Market Report 2021 – By Type (Domestic Air Passengers, International Air Passengers), By Class (Business Class, Economy Class), COVID-19 Impact And Recovery
Air Cargo Services Global Market Report 2021 – By Type (Air Mail, Air Freight), By Destination (Domestic, International), By End-User (Consumer Electronics, Retail, Third Party Logistics, Food And Beverages, Pharmaceuticals And Healthcare), By Service (Express, Regular), COVID-19 Impact And Recovery
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