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U.S. Civil Aircraft Shipments to Grow 4.5% Yearly in Nominal Terms to 2023
May 16, 2019 | PRNewswireEstimated reading time: 1 minute
U.S. civil aircraft shipments are forecast to advance 4.5% annually in nominal terms through 2023, according to Civil Aircraft: United States, a report recently released by Freedonia Focus Reports. The US industry will remain highly reliant on export markets. Rising incomes in developing regions such as Asia and Africa boost demand for air transport services, which supports aircraft orders.
Due to the relatively few industry participants globally, a result of extremely high barriers to entry, domestic producers will continue to face significant competition from foreign firms – particularly in the wake of highly publicized disasters, such as those relating to the Boeing 737 MAX accidents. In addition, some countries such as China are attempting to create or further cultivate aerospace industries, representing a possible source of new competition. Furthermore, a robust second-hand market presents a significant constraint to production. The prominence of competing transport modes, such as high-speed rail in Europe and Asia, also constrains demand.
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction.
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