The global regional jets market (smaller passenger aircraft) was worth $9.40 billion in 2020. It's projected to grow from $10.47 billion in 2021 to $16.58 billion by 2028. That's an annual growth rate of 6.8% during the 2021-2028 period. The key points are: The regional jet market was worth $9.40 billion in 2020. It's expected to grow to $10.47 billion in 2021 and then continue growing to $16.58 billion by 2028. The annual growth rate during this 2021-2028 period is projected to be 6.8%. This relatively high growth rate is due to the regional jet market's demand and sales returning to pre-pandemic levels once the COVID-19 pandemic is over. So in summary, the global regional jet market is forecasted to see solid, double-digit growth in the coming years as the industry recovers from the pandemic disruption.
Informational Source:
https://www.fortunebusinessinsights.com/regional-jet-market-106235
The regional jet landscape has undergone a remarkable transformation in recent years, driven by evolving passenger demands, environmental considerations, and advancements in aircraft technology. As the aviation industry continues to navigate the post-pandemic recovery, regional jets have emerged as a versatile and increasingly crucial component of air transportation networks around the world.
Key Companies Covered in Regional Jet Market are:
Expanding Passenger Capacity and Range
One of the most significant developments in the regional jet segment has been the steady increase in passenger capacity and range of these aircraft. Manufacturers have responded to the need for greater efficiency and flexibility by introducing new models that can accommodate more passengers without sacrificing the agility and cost-effectiveness that have long been hallmarks of regional jets.
The Embraer E2 family, for example, offers seating capacities ranging from 80 to 146 passengers, while the Mitsubishi SpaceJet M100 can carry up to 88 passengers. These larger regional jets have expanded the reach of airlines, allowing them to serve medium-haul routes that were previously the domain of mainline narrow-body aircraft. The increased range of these newer regional jet models, often exceeding 3,000 nautical miles, has further broadened the operational flexibility of regional carriers, enabling them to connect secondary and tertiary markets to major hubs with greater ease.
Enhancing Passenger Experience
As regional jets have grown in size and capability, manufacturers have also placed a strong emphasis on enhancing the passenger experience. The cabins of these aircraft have undergone a transformation, with features such as larger windows, more spacious overhead bins, and improved lighting and soundproofing becoming increasingly common.