The supersonic jet global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Supersonic Jet Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The supersonic jet market size has grown strongly in recent years. It will grow from $25.93 billion in 2023 to $27.77 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to cold war military development, military supersonic aircraft, technical expertise, market competitiveness, soviet concorde rivalry. .
The supersonic jet market size is expected to see strong growth in the next few years. It will grow to $36.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to environmental sustainability, market expansion, economic growth, sustainable fuel alternatives, supersonic cargo transport.. Major trends in the forecast period include sonic boom mitigation, supersonic business jets, digital passenger experience, supersonic regional travel, use of artificial intelligence..
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Scope Of Supersonic Jet Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Supersonic Jet Market Overview
Market Drivers –
The increase in air passenger traffic is expected to propel the growth of the supersonic jet market going forward. The growing middle class and the emergence of low-cost carriers that offer competitive fares to popular destinations are stimulating growth in air passenger traffic. As a result, rising air passenger traffic drives up demand for supersonic aircraft. For instance, according to the International Air Transport Association (IATA), a Canada-based trade association of the world’s airlines, overall air traveler numbers are to reach 4.0 billion in 2024, exceeding pre-COVID-19 levels by 103% of the 2019 total. Therefore, the rise in air passenger traffic is driving the supersonic jet market.
Market Trends –
Technological advancement is a key trend gaining popularity in the supersonic jet market. Companies in the supersonic jet market are focusing on developing efficient and quiet supersonic technologies that are compliant with all regulatory standards. For instance, in March 2022, Lockheed Martin Aeronautics, a US-based aerospace company, partnered with NASA’s Ames Research Center, for developing X-59 supersonic jet under the Commercial Supersonic Technology project. The project covers a variety of supersonic research-related topics, such as the use of advanced visualization tools to study shockwaves and the use of distinctive wind tunnels, supercomputing resources, and systems engineering know-how. The eventual demonstration of quiet supersonic flight over land is just one of the many research areas being pursued to achieve the objectives of CST and the X-59 QueSST.
The supersonic jet market covered in this report is segmented –
1) By Type Outlook: Light Jet, Mid-Size Jet, Large Jet
2) By Speed Range: 1 Mach – 2 Mach, 2 Mach – 3 Mach
3) By System Analysis: Airframe, Engine, Avionics, Landing Gear System, Weapon System
4) By Platform: Commercial Aircraft, Military Aircraft
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Regional Insights –
North America was the largest region in the supersonic jet market sharein 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the supersonic jet market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the supersonic jet market include Boom Technology Inc., Lockheed Martin Corporation, Airbus SAS, Aerion Corporation, Boeing Airplane & Transport Corporation, Spike Aerospace Inc., TsAGI, Hypermach Europe Aeronautics Ltd., Dassault Aviation Inc., Tupolev PJSC, BAE Systems, Saab AB, Hindustan Aeronautics Limited, United Aircraft Corporation, Aviation Industry Corporation of China, Gulfstream Aerospace Corp., Exosonic Inc., Reaction Engines Ltd., Northrop Grumman, Hermeus Corp., Embraer SA, The JSC Sukhoi Company, Aérospatiale Group, Mitsubishi Heavy Industries Ltd., Kawasaki Heavy Industries Ltd., Blue Origin LLC, Virgin Galactic Holdings Inc., HyperSciences Inc., SpaceWorks Enterprises Inc., Orion Span Inc.
Table of Contents
1. Executive Summary
2. Supersonic Jet Market Report Structure
3. Supersonic Jet Market Trends And Strategies
4. Supersonic Jet Market – Macro Economic Scenario
5. Supersonic Jet Market Size And Growth
…..
27. Supersonic Jet Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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