US aviation industry is expected to see a CAGR of 3.3% during the period (2019-2025). The US is expected to hold a significant market share in the aviation industry. Before the COVID-19 outbreak, the factors that drive the aviation industry in the US were high disposable income, a large proportion of high-income groups coupled with a high number of passengers traveled from airplanes. The US confirmed its first case of the COVID-19 on January 21, 2020. After that the government-imposed lockdown across the country to contain the infection. The US is among the highly affected economy due to the outbreak of COVID-19. To date (June 28, 2020), there are around 2.6 total cases and 128,437 mortalities caused by the COVID-19 pandemic as per Worldometers.info. Similar to other industries, the aviation industry is also negatively affected by the COVID-19 pandemic in the US. The decline in the number of domestic and international flights for passengers further impacted the aviation industry in the country. As per ICAO, the total number of flights in the US was around 6.6 million till May in 2019 that further declines to 5.5 million till May in 2020.

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US 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.

Moreover, the major US-based aviation companies such as The Boeing Co., American Airlines Group Inc., and United Airlines, Inc., are facing the significant impact of the COVID-19 outbreak that further affect the aviation industry in the country. For instance, the Boeing Co. faced a huge loss, that is, it planned out to reduce 10% of its workforce as well as reduce the production of its various commercial jet models. The company had a net loss of approximately $642 million due to the pandemic and the grounding of the 737 MAX aircraft fleet due to the virus spread in the first quarter of 2020. Moreover, American Airlines Group 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.

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the US 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 US 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 US aviation industry.
• Insights about market determinants which are stimulating the US aviation industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.