The North American aviation industry is expected to see a CAGR of 4.2% during the period (2019-2025). North America comprises the major economies of the globe which include the US and Canada. Due to the presence of key companies in the aviation industry in the US, the region holds a considerable share in the global market. With the exponential increment in the COVID-19 cases in the region, the airlines have grounded most of the planes and the complete lockdown has been imposed in most of the countries. The sudden halt in air travel disrupted the aviation industry in the region. As per the ICAO, the total number of domestic and cargo flights including passenger and cargo declined by 15.6% in 2020. The tickets were rescheduled and then canceled considering the severity of the COVID-19. Various members of the aviation staff were asked to work from home, and the airports were completely shut down. It has resulted in a deviation from the earlier forecast number related to the aviation industry which comprises the demand for new airplanes, annual air-passenger, workers, and others.

Visit for Global Aviation Market Report at: https://www.omrglobal.com/industry-reports/aviation-market

North American aviation industry is segmented into passenger airlines, cargo airlines, aircraft manufacturing, airport management, and catering & other services. Based on the segmentation, the passenger airline segment is anticipated to get highly affected along with catering & other services. Passenger airline is the largest segment contributing to the aviation industry. The cargo airline segment in North America is showing the highest CAGR of 4.8% during the forecast period.

COVID-19 outbreak has severely impacted the North American countries including the US and Canada. The US contributes majorly to the North American aviation industry. In 2019, the US was the largest player in the aviation industry followed by China and the UK. As per the IATA, Oxford Economics forecasts that by 2036, the impact of air transport and the tourism it facilitates in North America will have grown to support $10.4 million and a $1.5 trillion contribution to GDP. The other factors driving the aviation industry before the COVID-19 pandemic include high disposable income, increasing global economic activities, and new travel trends.

Some of the companies operating in the North American aviation market and get prominently affected by this outbreak include American Airlines Group Inc., Delta Air Lines, Inc., The Boeing Co., Air Canada, and United Airlines, Inc. The overall airline industry has been hit by the COVID-19, so as the American Airlines Group. The company has witnessed a loss of $ 2.2 billion in the first quarter of 2020. The company reduced its overall capital and other operational expenses by $12 billion in 2020. Whereas the company faced a 90% slump in the second quarter’s revenue. The airline is also retiring four aircraft types, including its fleets of Boeing 757s and 767s and Airbus A330-300s, and has suspended marketing and hiring campaigns. The company had also reduced its management and support staff by 30%. The outbreak of COVID-19 and travel restrictions have the company under immense pressure. 

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the North American aviation industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior, and macro-economic factors. The report includes an analysis of different regions and countries and the effect of COVID-19 on the aviation industry of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the North American aviation industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North American aviation industry.
• Insights about market determinants which are stimulating the North American aviation industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.