NEW YORK, June 21, 2016 /PRNewswire/ — The global commercial aircraft industry is witnessing its second golden era marked by burgeoning order backlogs across leading industry OEMs as well as radical technological innovations and propelled by rapid air traffic growth being witnessed across markets & regions, especially, with the global air traffic projected to double itself by 2030, led by the APAC region, in addition, to a technological generational leap in the global aviation propulsion sector with decades of research on technological evolution by key industry players transpiring into next generation of aerospace propulsion systems. The strong tailwinds being experienced by the industry have been further accentuated by a favorable crude oil price trend which is boosting profitability across airlines. Additionally, the introduction of latest aircraft programs by the OEMs; incorporating next generation engine technologies translating into optimized operating economics & enhanced performance specifications, features & dynamics; has been a key driver of fleet renewals across airlines globally of-late besides enabling Airlines to open new routes and business concepts, thereby, providing potential, significant growth avenues. With virtually everything in favor & almost nothing against it as of now, the global commercial aircraft market is projected to register addition of over 32,600 new commercial aircrafts through 2034 worth $4.9 trillion, as per Airbus.
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