The aircraft weighing system market is expected to grow at US$ 102.76 million in 2019 and is projected to reach US$ 133.03 million by 2027; it is expected to grow at a CAGR of 4.2% from 2020 to 2027.
The global aviation industry is experiencing swift growth, recording significant production volumes of commercial and military aircraft fleet. The commercial aircraft fleet has witnessed massive growth in the past few years owing to the emergence of new low cost carriers (LCCs) and fleet expansion strategies adopted by the full service carriers (FSCs). Commercial aviation is foreseen to surge in the coming years due to the mounting number of air travel passengers and aircraft procurement. In regions such as North America, Europe, and APAC, air passenger traffic has been surging with time, which is propelling the demand for commercial aircraft. In APAC, primarily in China, the commercial aircraft for domestic travel has been proven to be cost-effective. Moreover, in 2018 and 2019, the global military aircraft volume was ~453 units and 632 units, respectively. Airbus and Boeing are the two aircraft manufacturing giants with significantly greater volumes of orders and delivery statistics. These two aircraft original equipment manufacturers (OEMs) are continuously encountering orders for various aircraft models from different civil airlines. Thus, these factors are driving the growth of the aircraft weighing system market.
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The research provides answers to the following key questions:
- What is the estimated growth rate of the market for the forecast period 2021–2027? What will be the market size during the estimated period?
- What are the key driving forces responsible for shaping the fate of the AIRCRAFT WEIGHING SYSTEMS market during the forecast period?
- Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Aircraft Weighing System market?
- What are the prominent market trends influencing the development of the Aircraft Weighing System market across different regions?
- What are the major threats and challenges likely to act as a barrier in the growth of the Aircraft Weighing System market?
- What are the major opportunities the market leaders can rely on to gain success and profitability?
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Aircraft Weighing System market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Aircraft Weighing System market segments and regions.
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Aircraft Weighing System Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America