Regional Jet Market Top Leading Players with Strategies and Forecast 2028

The globalregional jet market growthis set to bulge owing to the rising focus of manufacturers on the enhancement of cabin comfort for delivering a hassle-free passenger experience. In June 2019, Mitsubishi Aircraft Corporation, for instance, unveiled SpaceJet, its latest aircraft to cater to the high demand from the regional jet industry. It would provide more profits to airliners and offer more comfort to passengers. This information is given byFortune Business Insightsin a report, titled, Regional Jet Market, 2021-2028. As per the report, the market size is projected to grow fromUSD 10.47 billionin 2021 toUSD 16.58 billionin 2028 at a CAGR of6.8%in the forecast period. In 2020, it stood atUSD 9.40 billion.

Drivers Restraints-

Increasing Air Passenger Traffic to Propel Growth

Nowadays, people are choosing air travel as it is the fastest and safest mode of transportation. Hence, airline operators are trying to diversify more destinations and routes. The rising air traffic and passenger load has further driven the demand for new generation regional jets. Flightradar24, for instance, mentioned that the regional aviation world fleet in 2019 comprised 10,000 units of regional aircraft. It is expected to grow in the near future. However, delays in promised aircraft deliveries are likely to hinder the regional jet market growth.

Regional Insights-

Presence of de Havilland to Favor Growth in North America

Geographically, North America gainedUSD 3.63 billionin 2020 in terms of share. The presence of reputed companies, such as de Havilland would aid regional growth. Also, the region houses a vast assembly line for aircraft belonging to varied sizes. On the other hand, Europe would show moderate growth because of the need to invest in the development of unique

A list of key players operating in the global market: