According to the latest market research study published by P&S Intelligence, the U.S. aircraft market reached a robust USD 43.2 billion in 2024 and is projected to grow at a steady CAGR of 4.1% from 2025 to 2032, reaching USD 58.9 billion by 2032.
This growth is fueled by rising air travel demand driven by
airlines upgrading fleets to fuel-efficient models and travelers increasingly
choosing air travel in the post-pandemic era. Additionally, government
regulations emphasizing sustainability are accelerating the adoption of
electric propulsion, carbon-fiber composites, and self-flying systems.
Innovations like electric vertical take-off and landing (eVTOL) and 3D-printed
components are reducing aircraft weight and operational emissions, while defense
modernization programs bolster military aviation spending.
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Key Insights
- The civil
aviation segment is experiencing a surge in demand, with budget carriers
such as Southwest and Spirit increasing accessibility, prompting fleet
expansion and aircraft modernization.
- For military
aircraft, a CAGR of 4.7% through 2032 is expected, propelled by defense
modernization programs like the F‑35, NGAD, and B‑21 Raider, and bolstered
by a USD 813.3 billion air power modernization budget in 2023.
- Regional
outlook: The Northeast currently leads in market size, while the West is
the fastest-growing region, driven by aerospace manufacturing hubs and
advanced R&D facilities.
- Technological
advancements: Electric propulsion, urban air mobility, composite materials
(carbon fiber), self-flying systems, and sustainable aviation fuels are
key innovations reducing emissions and operating costs.
- The regulatory
framework favoring environmental policies is prompting airlines and OEMs
to adopt fuel-efficient and low-carbon technologies.
- Defense
spending trends: Escalating global tensions and defense modernization
efforts continue to drive investments in next-gen military and transport
aircraft.
- Market
structure: Characterized by a consolidated landscape, major
players such as Boeing, Lockheed Martin, Northrop Grumman, GE Aerospace,
and Pratt & Whitney dominate both civil and military sectors.
- Emerging
opportunities: Urban air mobility (eVTOL), electrification in general
aviation, lightweight materials manufacturing, and next-gen defense
aircraft present high-growth niches for innovators and investors.
