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According to the latest market research study published by P&S Intelligence, the U.S. aircraft market reached a value of USD 43.2 billion in 2024 and is projected to grow at a CAGR of 4.1% through 2032, hitting USD 58.9 billion by the end of the forecast period. This growth trajectory is largely fueled by the rising demand for air travel and the need for modern, fuel-efficient aircraft. As passenger volumes soar, airlines are investing heavily in next-generation fleets that promise reduced fuel consumption and operational costs.

Advancements in aircraft technology—ranging from electric propulsion systems and autonomous navigation to rapid production techniques—are revolutionizing the aviation landscape. The integration of lightweight materials such as carbon fiber and 3D-printed components further enhances fuel efficiency. Meanwhile, the increasing focus on urban air mobility and electric vertical take-off and landing (eVTOL) aircraft is opening up new frontiers in intra-city transportation. Additionally, the escalation of global defense priorities is prompting increased investment in advanced military aircraft, solidifying the market’s dual civil–military growth prospects.

Key Insights

• The commercial aircraft category led the market in 2024, driven by bulk orders for Boeing 737 and Airbus A320 models. The post-COVID rebound in tourism and increased global mobility significantly contributed to this segment's dominance.
• Military aircraft will register the highest CAGR of 4.7% through 2032, as geopolitical tensions and national security concerns prompt greater investment in programs like the F-35, B-21 Raider, and Next-Generation Air Dominance (NGAD).
• In terms of components, engines & propulsion systems accounted for the largest share at 30% in 2024, owing to their high cost and frequent maintenance needs across all aircraft types.
• The satellite payloads & propulsion systems segment is set to experience the fastest growth due to increased reliance on compact, high-performance systems for defense, communication, and earth observation.
• Autonomous systems dominated the technology segment with a 45% market share, supported by wide-scale deployment in defense operations and surveillance drones like the MQ-9 Reaper.
• The electrification and sustainable propulsion category will expand at the fastest pace, driven by stringent environmental policies and collaborative initiatives by the FAA and NASA to develop clean aviation technologies.
• The fixed-wing aircraft platform held a 55% market share in 2024, supported by extensive use in commercial, cargo, and military operations. The U.S. fleet included over 211,000 active fixed-wing aircraft across sectors.
• Space systems are poised for rapid growth due to increasing military investments and programs such as NASA’s Artemis mission and various public–private partnerships in space exploration.
• From an end-user perspective, government & defense was the largest segment in 2024, backed by an $800-billion+ U.S. defense budget, while commercial airlines are expected to grow the fastest, at 5% CAGR, due to post-pandemic travel recovery and the demand for fuel-efficient fleets.
• Regionally, the Northeast U.S. led the market with a 40% share in 2024, home to industry giants like Lockheed Martin and Raytheon and a mature aerospace supply chain ecosystem.
• The Western region will grow at the highest CAGR of 4.8%, propelled by innovation in electric aviation, strong venture capital support, and leadership in space technology through companies like SpaceX and Tesla.
• The market remains highly consolidated, dominated by established players such as Boeing, Lockheed Martin, RTX Corporation, and Northrop Grumman, who benefit from government trust, advanced capabilities, and cost efficiencies due to scale.
• Recent developments include Boeing’s selection by the U.S. Air Force in March 2025 to develop the NGAD F-47 fighter and Sikorsky’s April 2025 agreement with Bristow to support the world’s largest S-92 helicopter fleet.