AUSTRALIA AVIATION MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 A CAGR of -3.69% is predicted for the Australian aviation market. According to projections, the Australian economy will get a GDP contribution from the aviation sector, which consists of airlines and its supply chain, of about USD 39 billion yearly. More than 2% of the nation's GDP is supported overall by inputs to the aviation industry and international travellers who go by air.

In 2020, deliveries in aviation as a whole decreased by almost 50%. Due to the shutdown, the OEMs ran into complications with transportation and a halt in manufacturing that affected the supply chain.

The total delivery of business jet, helicopter, piston, and turboprop aircraft increased by almost 49% between 2019 and 2021 in the general aviation sector. The general aviation industry is anticipated to grow as a result of factors like the rising proportion of HNWIs, training facilities, and the country's growing fleet of charter operators.
Defence spending in the nation increased by almost 16% between 2020 and 2021, from USD 27.3 billion in 2020 to USD 31.7 billion in 2021. 2 percent of the nation's GDP was spent on defence. The need to replace the ageing fleet and the ongoing conflicts and security threats from China have driven the country to purchase military aircraft.

Major Players: Airbus SE, Bombardier Inc., General Dynamics Corporation, Lockheed Martin Corporation and Textron Inc 

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