The US aviation industry will see the considerable growth of 3.3% during the forecast period. 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 airline traffic in the US was plunged by 96.0% year-over-year from April 2019 to April 2020, according to the US Department of Transportation. This is the largest decrease in passengers for air travel on record as the COVID-19 pandemic continues to impact the travel sector negatively. In April 2020, there were just 2.8 million air travel passengers in the US as compared to 66.7 million in 2019.
Browse the full report description of "US Aviation Market Size, Share & Trends Analysis Report by Type (Passenger Airlines, Cargo Airlines, Aircraft Manufacturing, Airport Management, and Catering & Other Services), Impact of COVID-19 on US Aviation Industry, and Forecast 2019-2025" at https://www.omrglobal.com/industry-reports/us-aviation-market
Moreover, to overcome the impact of the crisis, the government is also providing funding and various projects in the aviation industry. In the US, the aviation sector will get around $60 billion as financial assistance under the Senate rescue package to tackle the downfall of the aviation industry in March 2020. Around $25 billion loan and loan guarantees will be provided to passenger airlines, and around $14 billion to cargo airlines. Around $7.0 billion will be provided to the companies which are "critical to maintaining national security." Out of which, Boeing will get a significant portion of the package. Airlines in the country are following or exceeding all guidance from the CDC to help contain and stop the spread of COVID-19. The airlines have implemented new boarding procedures and reduced beverage service to limit interaction between people.
Market Coverage
|
Report Elements |
Details |
|
Study Period |
2019-2025 |
|
Base year |
2018 |
|
Forecast period |
2019-2025 |
|
Segments Covered |
By Type |
|
Key Companies Profiled |
American Airlines Group
Inc., Delta Air Lines, Inc., The Boeing Co., and United Airlines, Inc. |
Key questions addressed by the report
o Recovery Timeline
o Deviation from pre-COVID-19
o Most affected region/segment
o Recommendations
US Aviation Market – Segmentation
By Type
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