Wilmington, Delaware, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Aviation Consulting Market by Type (Investment Assessment and Auditing, Permitting and Compliance, Monitoring and Testing, Project and Information Management and Others), and Application (Airport and Aerospace): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the aviation consulting market was valued at $4.6 billion in 2023, and is estimated to reach $7.6 billion by 2033, growing at a CAGR of 4.9% from 2024 to 2033.
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Prime determinants of growth
The global aviation consulting market is experiencing growth due to several factors such as the growing complexity of the aviation sector, the increasing requirement for specialized knowledge to handle operational and regulatory issues, and the heightened focus on safety and security in aviation operations. However, the high cost of aviation consulting services, particularly for smaller airlines or airports with limited budgets, along with the concerns about data security and privacy hinder market growth to some extent. Moreover, the rise in technological developments in aircraft design, air traffic management, and airport operations, along with the rapid expansion of aviation markets in emerging markets offer remunerative opportunities for the expansion of the global aviation consulting market.
Report coverage & details
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $4.6 billion |
| Market Size in 2033 | $7.6 billion |
| CAGR | 4.9% |
| No. of Pages in Report | 250 |
| Segments Covered | Type, Application, and Region. |
| Drivers |
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| Opportunities |
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| Restraints |
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Segment Highlights
The project & information management segment is expected to lead the market during the forecast period.
Based on the type, the project & information management segment held the highest market share in 2023, accounting for about two-fifths of the global aviation consulting market revenue throughout the forecast period. The demand for project & information management consulting is driven by the complexity of aviation projects, such as airport expansions, fleet modernization, and regulatory compliance initiatives, along with the increasing environmental concerns that drive aviation entities to adopt sustainable practices, such as reducing carbon emissions and implementing eco-friendly technologies. In addition, the globalization of air travel and emerging market opportunities drive aviation consulting services to support market entry strategies, international alliances, and cross-border operations, which drives market growth globally.
The airport segment is expected to register the largest share during the forecast period.
Based on the application, the airport segment held the highest market share in 2023, accounting for nearly three-fifths of the global aviation consulting market revenue. This growth can be attributed to the airports expanding and upgrading their infrastructure to accommodate growing passenger volumes and aircraft fleets. This includes terminal renovations, runway extensions, and technology upgrades. Moreover, airports are increasingly focused on reducing their environmental footprint through initiatives such as carbon neutrality, sustainable construction practices, energy-efficient infrastructure, and waste management. These factors are projected to accelerate the growth of the market in this segment.
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North America to maintain its dominance by 2033.
Based on region, North America held the highest market share in terms of revenue in 2023, accounting for nearly two-fifths of the global aviation consulting market revenue throughout the forecast timeframe. The growth is primarily driven by the development of urban air mobility solutions, including electric vertical takeoff and landing (eVTOL) aircraft, along with the rapid expansion of air cargo operations. In addition, the growing need to upgrade and expand airport infrastructure to accommodate increasing passenger and cargo traffic drives the demand for the aviation consulting market.
Players
- ACS Consolidated Group Pty Ltd.
- Airline Tariff Publishing Company (ATPCO)
- Alton Aviation Consultancy LLC
- Baines Simmons Limited
- International Air Transport Association (IATA)
- Mott MacDonald
- Ramboll Group A/S
- Ricondo & Associates, Inc.
- The Aviation Consulting Group
- WSP Global Inc.
The report provides a detailed analysis of these key players in the global aviation consulting market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aviation consulting market analysis from 2024 to 2033 to identify the prevailing aviation consulting market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the aviation consulting market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global aviation consulting market trends, key players, market segments, application areas, and market growth strategies.
Aviation Consulting Market Key Segments:
By Type
- Investment Assessment and Auditing
- Permitting and Compliance
- Monitoring and Testing
- Project and Information Management
- Others
By Application
- Airport
- Aerospace
By Region
- North America (U.S., Canada)
- Europe (France, Germany, Italy, Spain, UK, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Mexico, Rest of LAMEA)
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