The Supersonic Jet Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Supersonic Jet Global Market Report 2024, 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..
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.
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The supersonic jet market covered in this report is segmented –
1) Supersonic Jet Market By Type Outlook: Light Jet, Mid-Size Jet, Large Jet
2) Supersonic Jet Market By Speed Range: 1 Mach – 2 Mach, 2 Mach – 3 Mach
3) Supersonic Jet Market By System Analysis: Airframe, Engine, Avionics, Landing Gear System, Weapon System
4) Supersonic Jet Market By Platform: Commercial Aircraft, Military Aircraft
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 report table of contents includes:
1. Executive Summary
2. Supersonic Jet Market Characteristics
3. Supersonic Jet Market Trends And Strategies
4. Supersonic Jet Market - Macro Economic Scenario
5. Global Supersonic Jet Market Size and Growth
......
31. Global Supersonic Jet Market Competitive Benchmarking
32. Global Supersonic Jet Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Supersonic Jet Market
34. Supersonic Jet Market Future Outlook and Potential Analysis
35. Appendix
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