A new report published by Allied Market Research has forecast the global commercial aircraft market to reach $209 billion by 2022.
The report revealed the market growth is driven by numerous factors including: increasing number of air passengers, improvements in commercial aviation network, development of eco-friendly and fuel-efficient aircraft, rise in tourism, and economic development.
Government initiatives led by countries such as China, India, UK, Russia and Brazil have greatly improved the global aviation network.
Further advancements across the industry such as flexible regulations for the development of commercial aircraft models, lowering taxes and investments in R&D also assisted the positive projection.
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