NEW YORK, March 29, 2023 (GLOBE NEWSWIRE) — Resonance is a leading global advisor on tourism development for the world’s best cities, districts, developments and destinations. The consultancy has been studying and monitoring the intentions and preferences of the country’s wealthiest and most affluent travelers since 2008 to better inform the design, development and marketing of luxury travel destinations, products and services.
The 2023 Future of U.S. Luxury Travel Report provides vital, timely insights from a survey of what Resonance refers to as the “Top 1%” of U.S. households in 2022 (Household Income of USD $500K+ and/or net worth of USD $11 million+).
“Luxury travel and tourism in the U.S. has not only recovered, but grown over the past three years. However, there have been significant changes in where affluent travelers want to go, the types of accommodations they desire and the types of activities and experiences they want to enjoy,” says Resonance President and CEO Chris Fair. “We created this report to help the marketplace better understand the opportunity to enchant and onboard the new affluent U.S. luxury traveler.”
The 2023 Future of U.S. Luxury Travel Report outlines luxury traveler intent today and for the year ahead by comparing and contrasting behavior from Resonance’s 2019 survey of the same demographic. The result is the most comprehensive intent survey of high-net-worth individuals in the U.S. today, featuring post-pandemic travel intentions regarding destinations, vacation types, and activities and accommodations when they get there.
Insights from the report’s seven chapters include…
02 Today’s Luxury Travel Landscape
Almost all affluent U.S. travelers are planning an overnight trip of at least 75 miles away within the next 12 months, and 41% are planning to travel internationally, with Canada being the most popular country they are planning to travel to.
03 How We Travel Now
While city trips are still popular, they dropped from 53% in 2019 to just 35% for the Top 1% planning to take a city trip in the next 12 months. The biggest shift has been the surge in affluent households planning to take a vacation for health and wellness, rising from 23% in 2019 to 31% in 2022.
04 Where is the Top 1% Going?
When it comes to international travel, the cautiously optimistic U.S. luxury traveler is keen to explore Canadian landscapes, with the likelihood of a visit jumping significantly from 2019, with 47% of the Top 1% saying they are likely to visit Canada in the next 12 to 24 months, up from 29% in 2019.
05 Accommodation Preferences
Hotels of all types have declined in popularity since 2019, while the use of Airbnb has increased significantly (23% in 2019 to 38% in 2022).
06 Key Trends
An exploration of new concepts and twists on old favorites, with deep-dives ranging from multi-generational travel and Indigenous learning, to Gigayachting and questing.
07 The Way Forward
Multilayered expectations and shifting attitudes are transforming the very definition of a holiday itself. For many luxury travelers it’s not about what they ‘see’ anymore, but what they ‘do’ and how they ‘change’ as a result, whether they choose wellbeing retreats, cultural adventures or extreme sport vacations.
The full report is available at resonanceco.com/reports/future-of-us-luxury-travel
About Resonance Consultancy
Resonance is a global consultancy of strategic and creative place makers. As leading advisors in real estate, tourism and economic development, Resonance combines expertise in research, strategy, branding and communications to make destinations, cities and developments more valuable and more vibrant. ResonanceCo.com
“All this should have a significant positive impact on our businesses, in particular on our aviation businesses,” he said. “Achieving our strategic objective of growing our core businesses remains our prime focus.”
Hong Kong’s de facto flag carrier Cathay Pacific Airways on Wednesday reported that its losses widened 18.5 per cent to HK$6.5 billion last year, although its second-half performance improved as the city began easing travel restrictions.
“The increased losses at Cathay Pacific reflected the results of associates,” Bradley said. “Disregarding associates, the results of Cathay Pacific improved.” HK Express, a subsidiary of Cathay Pacific, has reported a loss of HK$1.35 billion.
The profit decline at Swire Properties was “due primarily to lower office rental income from Hong Kong and lower rental income from the Chinese mainland”, Bradley said, adding that the unit’s hotels business “continued to reflect the challenging operating environment”.
Swire Pacific declared dividends of HK$1.85 per “A” share and HK$0.37 per “B” share. The conglomerate’s shares closed down 3 per cent at HK$63.40 on Thursday.
Swire Properties is one of Hong Kong’s largest commercial landlords. Its portfolio includes mixed-use projects such as Pacific Place and Taikoo Place, as well as office buildings including One Pacific Place, Two Pacific Place, Three Pacific Place and One Taikoo Place.
Hong Kong’s supply of new office space will hit 14.5 million sq ft this year, a record high, according to property consultancy CBRE.
A view of Swire Properties’ Cityplaza, One Taikoo Place and Taikoo Place in Quarry Bay in March 2021. Photo: Martin Chan
“We think the [office property] market will remain relatively weak in the short to medium term. But we’re very confident that prospects will continue to improve,” Tim Blackburn, Swire Properties’ CEO, said at a press briefing.
Swire Properties missed a HK$7.5 billion profit target set by Citibank, but rental revenue of HK$12.34 billion was 1 per cent higher than its estimate, the investment bank said in a note on Thursday. Citibank recommended a “buy” for Swire Properties shares.
The property company declared a dividend of HK$0.68 per share. Swire Properties shares closed down 1.6 per cent at HK$21 on Thursday.
Terry Pheto’s Bryanston property was expected to sell for more than R4-million but did not get an offer
- Terry Pheto’s house in Bryanston, seized by the Asset Forfeiture Unit, went on auction on Thursday morning.
- But the property worth more than R4-million failed to sell. No bid over the starting bid of R3-million was received.
- The Lottery money used to buy the house was meant to go to an initiation programme.
- The auctioneer will market the property to prospective buyers in the coming weeks.
A luxury home paid for with ill-gotten Lottery money by Tsotsi and The Bold and the Beautiful actress Terry Pheto went unsold when it went under the hammer on Thursday 2 March, despite 28 bidders signing up for the auction.
Auctioneer, Graham Renfrew of Asset Auctions, said they would now approach these bidders to solicit offers on the three-storey home, which was frozen by the Special Tribunal last year. The auctioneers had hoped to sell the house for over R4-million.
A large portion of the money used to build the home came from a National Lotteries Commission (NLC) grant meant to fund an initiation programme.
On Thursday, the SIU released a series of graphics that showed how the Lottery money was spent. The SIU investigations found that the money used for the purchase of the land and construction of the home came from non-profit organisation that received NLC funding meant for the roll-out of a public campaign of culturally sensitive medical intervention projects aimed at achieving traditional circumcision practice.
The 502 square metre property in upmarket Bryanston in Johannesburg has three bedrooms, two bathrooms, a kitchen, an open-plan dining room with a family room, lounge, a large rooftop garden with an entertainment area, a double garage, and a maid’s quarters. It is in a complex that has 24-hour security and is close to the Gautrain bus stop. It is also close to Johannesburg’s green belt. Auctioneers are now in the process of contacting interested bidders.
This followed President Cyril Ramaphosa’s Proclamation R32 of 2020, which authorised the SIU to investigate allegations of corruption and maladministration in the affairs of the National Lotteries Commission (NLC).
The auction follows a preservation order granted by the Gauteng High Court to the Asset Forfeiture Unit (AFU) and the Special Investigating Unit (SIU) on 4 November 2022 to freeze Pheto’s home and several other properties, the SIU said in a statement.
“The SIU investigations have found that the money used for the purchase of the land and construction of the home came from non-profit organisations that received NLC funding meant for the roll-out of a public campaign and culturally sensitive medical intervention projects aimed at achieving traditional circumcision practice.
“After the preservation order was granted, Pheto’s legal representatives contacted the SIU and the AFU indicating that they will not contest the preservation order granted by the High Court,” their statement said.
Renfrew, the auctioneer of the property, said no bids reached the starting bid of R3-million. “We will market the property to the 28 interested people first.” He also told GroundUp that they hope to have an offer within the next two weeks. He also suggested that press coverage of the property might have put potential bidders off.
Kaizer Kganyago, a spokesperson for the SIU, said they would wait to hear back from the AFU before proceeding forward with the matter.
Most people have a travel bucket list, perhaps with 10 to 15 countries.
For this couple, it’s all 195 — and they’re more than halfway there.
Hudson and Emily Crider have visited 112 countries, but their journey together began long before that. Both are from the “same small town” of Lancaster, Pennsylvania. They met in fifth grade and started dating in high school, the couple said.
Speaking to CNBC via video from Chiang Mai, Thailand, the couple explained that their goal in college was to buy an RV and travel to all 50 states in the United States.
Hudson and Emily Crider in high school.
Hudson and Emily Crider
They began to save for that goal after getting married in 2012, but just a few years later, Hudson’s father died of a heart attack. “It was a reminder to us that we’re not guaranteed another day,” said Hudson, 32.
That motivated them to “sell everything and buy this old RV,” said Hudson. The couple left their jobs — Emily as a marketing manager in an agency, Hudson as a financial planner — in the Washington D.C.-Baltimore area, said Emily, 31. Just two years later, they accomplished their goal of traveling to all 50 states.
So they set their sights higher.
Now, as the couple pursue their goal of traveling to every country in the world, they spend less than when they lived in D.C., said Emily. “The thing we found most helpful is eliminating expenses,” said Hudson. “We don’t have a house, car, kids and also make sure to budget.”
The couple have met people on the road who have children, or a home that they’re renting out to travel long term, said Emily. “We really believe there’s not a right or wrong way to travel,” she said.
Hudson and Emily Crider on a safari in Kenya, Africa.
Hudson and Emily Crider
The couple work remotely while on the road to support their travels, said Hudson. They teach English online, create content on YouTube and Instagram, and sell products like clip-on hand sanitizer holders on Amazon.
Although every traveler has different circumstances, being able to research and read reviews on the internet makes travel “the most open that it’s ever been,” said Hudson.
The couple’s own style of traveling helps them save on food, attractions and local culture in countries they visit, no matter how expensive.
The Criders have traveled to every continent except Antarctica, they said. The following is their ranking of the world’s major regions based on the cost of travel — from the least to most expensive:
- Asia
- South America
- Africa
- Middle East
- Australia
- Europe
- North America
Food is one of the categories of travel that “people plan the least for,” yet it’s the cost that is “easiest to add up,” the couple told CNBC. In Bali, Indonesia, they kept those costs low by eating street food like nasi goreng, spending as little as $1 per meal.
Trying street food is a “great way to taste local food and culture,” said Emily. Their favorite Asian cuisines include pad Thai and khao soi from Thailand and Vietnamese banh mi, she said.
The couple save on housing, their second biggest expense, by doing homestays with locals. In Bali, they stayed with the “sweetest family” for just $4 per night, said Emily.
Hudson trying an organ sandwich in Marrakech, Morocco.
Hudson and Emily Crider
The couple also use Couchsurfing.com, a site where travelers can find locals offering free housing. In Switzerland, they stayed with another couple who made them raclette, a traditional Swiss dish, and took them paragliding, said Emily.
Homestays are a great way to connect with local people, said Emily. “When you’re quickly going to a place and taking pictures of tourist sites, you don’t always get the full picture.”
South America was the third cheapest for activities, at an average of $15.00 per experience, the couple told CNBC. Many activities were free, they added.
The couple research and budget for the main activities they want to do before visiting any country, they said.
Hudson and Emily Crider on a hike in Patagonia, South America.
Hudson and Emily Crider
They hiked through “amazing” places like Patagonia and Peru without booking a guide, said Hudson. With online resources, “it was so easy to find it ourselves,” he said.
The couple call this “do-it-yourself style travel,” where they find transportation and explore cities without having to book a tour, said Emily.
“Do-it-yourself” travel even extends to safaris, according to the couple.
In East Africa, Hudson and Emily rented a car and drove through the Serengeti on their own.
Hudson and Emily Crider camping during their self-drive safari in the Serengeti in Tanzania.
Hudson and Emily Crider
“It was more of an adventure than we signed up for, but it was a good way to save money,” said Emily.
Transportation typically means metros, buses or tuk-tuks instead of taxis and Uber, the couple said.
Hudson and Emily Crider in Petra, Jordan.
Hudson and Emily Crider
But renting a car can also be worth it.
The couple spent the most on transportation in the Middle East, at an average of $14.00 per ride, they told CNBC.
“If anybody’s traveling to Jordan in particular, rent a car — it’s a great way to meet local people,” said Hudson.
The couple spent $85 on a harbor cruise in Sydney that went past the Sydney Opera House. “We prefer to spend a little less money on housing and food and more on experiences,” said Emily.
They spent the most on activities in Australia, with an average of $42.50 per experience. Transportation, however, was the second-least costly, at an average of $3 per ride.
The cruise was also an example of how the couple create content on the road, as they partnered with a company to promote the experience, said Hudson.
By saving a little bit in every category, the couple save a lot of money in the long run, they told CNBC. They did the same in Europe, which was the second-most expensive for housing, food and transportation.
It helps to spend less time staying in the more expensive areas, said Hudson. Compared with Paris, cities like Prague and Budapest are “equally beautiful” but have housing that is “half the cost,” he added.
Hudson and Emily Crider paragliding in Switzerland.
Hudson and Emily Crider
To get around, the couple used the Eurail unlimited pass to travel to as many places as they wanted within a booked time period, said Hudson. Budget airlines like Wow Air and Ryanair were also “amazing” options, he said.
“We would get a €12.00 flight and spend more on getting the Uber to the airport,” he quipped.
They used Google to find accommodations based on budget, then booked using Airbnb or Booking.com for the “best deals,” said Emily. They typically did a “really cheap hotel or motel” in Europe as it was often less expensive than a hostel, she added.
Although New York consistently ranks as the most expensive city in the U.S., it is a popular destination for travelers who visit North America, said Hudson.
The couple got around by walking or riding on New York’s “amazing” subway system for $2.75 per trip, he said. They used Google Maps to access bus and metro times in almost every major city they visited, they said.
They also said they use blogs and Facebook groups to find suggestions for public transportation too.
Hudson and Emily try to strike a balance between “comfort and cost” when picking accommodations, they told CNBC.
That often leads to a choice between air conditioning and Wi-Fi, said Hudson. (They rarely compromise on the Wi-Fi.)
Reading an accommodation’s newest reviews gives a “current update of someone’s experience staying there,” said Emily.
“We don’t book places without reviews within the past four or five months.“
A hostel room where the Criders stayed in Sydney, Australia.
Hudson and Emily Crider
Bonus points on credit cards also help to save money, said Emily. “Chase Sapphire Preferred and Reserve cards are our favorite because those can be transferred to a lot of different hotels and airlines,” she said.
The couple plan for future trips by using Google Flights to notify them if a flight price drops below a certain amount, said Emily. Instead of being fixed on one specific destination, pick five places you want to visit and set notifications for them, she recommended.
As for Hudson and Emily, they have set their sights on more places than that.
They are headed to West Africa next, they said.
NEW YORK, Feb. 17, 2023 /PRNewswire/ — The commercial aircraft PMA market size is forecast to increase by USD 206.72 million from 2022 to 2027, at a CAGR of 5.66%, according to the recent market study by Technavio. The growth of the market will be driven by the growing number of air passengers, the relatively low cost of PMA-made parts, and the expansion of air routes. The report also includes historic market data from 2017 to 2021. In 2017, the aluminum extrusion market was valued at USD 591.31 million. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report
Technavio has extensively analyzed 15 major vendors, including ADPMA LLC, Aero Brake and Spares Inc., Airforms Inc., AirGroup America Inc., AMETEK Inc., Aviation Component Solutions, BAE Systems Plc, Fluid Components LLC, General Electric Co., HEICO Corp., Parker Hannifin Corp., Precision Castparts Corp., Raytheon Technologies Corp., RBC Bearings Inc., Safran SA, Sequa Corp., Spirit AeroSystems Holdings Inc., The Timken Co., Triumph Group Inc., and Wencor Group LLC
To get detailed insights about inclusions and exclusions, buy the report
Key Benefits for Industry Players & Stakeholders –
- The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
- It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
- The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
Expand operations in the future – To get requisite details, ask for a custom report.
Customer Landscape – Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio
- One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.
- Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
- Furthermore, market adoption rates for all regions have been covered.
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The market is segmented by type (engine, component, and others), application (small widebody, medium widebody, and large widebody), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
Segmentation by type (Inclusion/Exclusion)
- Inclusion
- Engine
- The engine of a commercial aircraft consists of components such as air intakes, compressors, combustors, turbines, afterburners (reheat), nozzles, and thrust reversers. The engine manufacturers are incorporating various technologies, such as additive manufacturing, to reduce the weight of the engine along with the manufacturing cost. This encourages various aircraft OEMs to use engines that reduce the manufacturing cost and the weight of commercial aircraft. The use of advanced technology by engine manufacturers will encourage commercial aircraft PMA enterprises to improve their manufacturing capabilities so that they can offer cost-effective engine components to airline service providers, which can be used during engine maintenance and repair activities. Hence, these factors will lead to an increase in the demand for commercial aircraft PMA-made engine components during the forecast period.
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- The commercial aircraft curtains market share is expected to increase to USD 33.62 million from 2022 to 2027, and the market’s growth momentum will accelerate at a CAGR of 6.14%. Furthermore, this report extensively covers the market segmentation by end-user (widebody, narrowbody, and regional aircraft), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
- The commercial aircraft cabin trash compactors market share is expected to increase to USD 45.53 million from 2022 to 2027, at a CAGR of 7.75%. Furthermore, this market research extensively covers segmentation by commercial aircraft cabin trash compactors market segmentation by application (narrow-body aircraft, wide-body aircraft, and regional aircraft) and geography (Europe, North America, APAC, South America, and Middle East and Africa).
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What are the key data covered in this Commercial Aircraft PMA Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the commercial aircraft PMA market between 2023 and 2027
- Precise estimation of the size of the commercial aircraft PMA market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the commercial aircraft PMA market industry across APAC, North America, Europe, Middle East and Africa, and South America
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of commercial aircraft PMA market vendors
Commercial Aircraft PMA Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.66% |
Market growth 2023-2027 |
USD 206.72 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
5.26 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 43% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ADPMA LLC, Aero Brake and Spares Inc., Airforms Inc., AirGroup America Inc., AMETEK Inc., Aviation Component Solutions, BAE Systems Plc, Fluid Components LLC, General Electric Co., HEICO Corp., Parker Hannifin Corp., Precision Castparts Corp., Raytheon Technologies Corp., RBC Bearings Inc., Safran SA, Sequa Corp., Spirit AeroSystems Holdings Inc., The Timken Co., Triumph Group Inc., and Wencor Group LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
- 1.1 Market Overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition – Five forces 2021 and 2026
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 24: Chart on Application – Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application – Market share 2021-2026 (%)
- 5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application
- 5.3 Narrow-body aircraft – Market size and forecast 2021-2026
- Exhibit 28: Chart on Narrow-body aircraft – Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Narrow-body aircraft – Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Narrow-body aircraft – Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Narrow-body aircraft – Year-over-year growth 2021-2026 (%)
- 5.4 Wide body aircraft – Market size and forecast 2021-2026
- Exhibit 32: Chart on Wide body aircraft – Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Wide body aircraft – Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Wide body aircraft – Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Wide body aircraft – Year-over-year growth 2021-2026 (%)
- 5.5 Regional Aircraft – Market size and forecast 2021-2026
- Exhibit 36: Chart on Regional aircraft – Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Regional aircraft – Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Regional aircraft – Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Regional aircraft – Year-over-year growth 2021-2026 (%)
- 5.6 Market opportunity by Application
- Exhibit 40: Market opportunity by Application ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 42: Chart on Market share by geography 2021-2026 (%)
- Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 44: Chart on Geographic comparison
- Exhibit 45: Data Table on Geographic comparison
- 7.3 Europe – Market size and forecast 2021-2026
- Exhibit 46: Chart on Europe – Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on Europe – Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on Europe – Year-over-year growth 2021-2026 (%)
- 7.4 North America – Market size and forecast 2021-2026
- Exhibit 50: Chart on North America – Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on North America – Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on North America – Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on North America – Year-over-year growth 2021-2026 (%)
- 7.5 APAC – Market size and forecast 2021-2026
- Exhibit 54: Chart on APAC – Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on APAC – Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on APAC – Year-over-year growth 2021-2026 (%)
- 7.6 South America – Market size and forecast 2021-2026
- Exhibit 58: Chart on South America – Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on South America – Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on South America – Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on South America – Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa – Market size and forecast 2021-2026
- Exhibit 62: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- 7.8 Germany – Market size and forecast 2021-2026
- Exhibit 66: Chart on Germany – Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Germany – Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Germany – Year-over-year growth 2021-2026 (%)
- 7.9 US – Market size and forecast 2021-2026
- Exhibit 70: Chart on US – Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on US – Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on US – Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on US – Year-over-year growth 2021-2026 (%)
- 7.10 China – Market size and forecast 2021-2026
- Exhibit 74: Chart on China – Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on China – Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on China – Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on China – Year-over-year growth 2021-2026 (%)
- 7.11 France – Market size and forecast 2021-2026
- Exhibit 78: Chart on France – Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on France – Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on France – Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on France – Year-over-year growth 2021-2026 (%)
- 7.12 Singapore – Market size and forecast 2021-2026
- Exhibit 82: Chart on Singapore – Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Singapore – Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Singapore – Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Singapore – Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 86: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.3 Impact of drivers and challenges
- Exhibit 87: Impact of drivers and challenges in 2021 and 2026
9 Vendor Landscape
- 9.2 Vendor landscape
- Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 89: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 90: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 91: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 92: Matrix on vendor position and classification
- 10.3 AERTEC Group
- Exhibit 93: AERTEC Group – Overview
- Exhibit 94: AERTEC Group – Product / Service
- Exhibit 95: AERTEC Group – Key offerings
- 10.4 Airbus SE
- Exhibit 96: Airbus SE – Overview
- Exhibit 97: Airbus SE – Business segments
- Exhibit 98: Airbus SE – Key news
- Exhibit 99: Airbus SE – Key offerings
- Exhibit 100: Airbus SE – Segment focus
- 10.5 Iacobucci HF Aerospace Spa
- Exhibit 101: Iacobucci HF Aerospace Spa – Overview
- Exhibit 102: Iacobucci HF Aerospace Spa – Product / Service
- Exhibit 103: Iacobucci HF Aerospace Spa – Key news
- Exhibit 104: Iacobucci HF Aerospace Spa – Key offerings
- 10.6 Safran SA
- Exhibit 105: Safran SA – Overview
- Exhibit 106: Safran SA – Business segments
- Exhibit 107: Safran SA – Key news
- Exhibit 108: Safran SA – Key offerings
- Exhibit 109: Safran SA – Segment focus
- 10.7 The MEL Group
- Exhibit 110: The MEL Group – Overview
- Exhibit 111: The MEL Group – Product / Service
- Exhibit 112: The MEL Group – Key offerings
11 Appendix
- 11.2 Inclusions and exclusions checklist
- Exhibit 113: Inclusions checklist
- Exhibit 114: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 115: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 116: Research methodology
- Exhibit 117: Validation techniques employed for market sizing
- Exhibit 118: Information sources
- 11.5 List of abbreviations
- Exhibit 119: List of abbreviations
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SOURCE Technavio
THE law which protected tenants renting commercial properties has been overturned by the High Court in a landmark ruling which orders them to immediately vacate premises after expiry of contract.
Previously, tenants were protected by Sections 22 and 23 of the Commercial Premises (Rent) Regulations, 1983, which authorised them to continue staying or using premises despite expiry of contract.
High Court judge Justice Webster Chinamhora found that sections of that law were unlawful and unfair.
Sections 22 and 23 declared that the owner of the building was prevented from evicting the tenants as long as they were abiding by the terms and conditions of the expired leases.
“A cumulative reading of section 22 and 23 shows that these provisions unfairly limit the powers of a court in ordering eviction and heavily restrict the lessor’s rights to terminate occupancy or seek eviction and possession of the premises after the lease expires.
“The regulations create a forced relationship between the lessee and the lessor known as statutory tenancy. My view is that sub-paragraphs (i) and (ii) of section 22 (2) effectively preclude the lessor from increasing rentals or leasing out the property to another person once the statutory tenancy protection applies.
“I would add that section 23 fortifies the protection accorded under section 22 of the Regulations and entitles the lessor to all the other benefits arising from the original contract.
“It is precisely for these reasons that section 22 and 23 of the Regulations are ultra vires the Commercial Premises (Lease Control) Act and set them aside.”
The ruling follows a legal dispute between a Harare-based company, Elnour United Engineering Group Private Limited and Industry and Commerce minister Sekai Nzenza.
Elnour United owns Gulf Complex and Sunshine Bazaar in Harare central business district and Mbare respectively.
The company argued that the regulations went beyond the powers of the Commercial Premises Act.
It sought an order directing Nzenza to make regulations that address the interests of both the lessor and lessee.
Nzenza had argued there was nothing discriminatory in the said provisions since section 23 of the Rent regulations deals with rights and duties of the lessee.
The minister further submitted that the company had failed to exhaust local remedies before asking the court to intervene.
BEIJING — People in China are moving past the pandemic and going out to travel, preliminary data for the Lunar New Year holiday show.
“Pent-up demand is being released as many people rush to scenic spots, watch firework shows and crowd into restaurants and hotels,” Nomura’s chief China economist Ting Lu said in a report Thursday.
China’s Covid “exit wave” is quickly ending as official data show a drop in infections, hospitalizations and deaths, he said. “China has been rapidly reaching its Covid herd immunity, as the government estimates about 80% of the population has already been infected with Covid.”
The country saw a surge in Covid infections in December, just as Beijing ended nearly three years of stringent contact tracing and border controls. The seven-day Lunar New Year, which officially began Saturday, is the first major holiday since the end of China’s Covid restrictions.
Within the country, reservations for stays at bed and breakfasts more than doubled from a year ago, while ticket sales for attractions grew by more than fivefold, according to Trip.com data for the first four days of the Lunar New Year.
The travel booking site claimed that for those four days, reservations for hotels and other tourist activities exceeded levels seen for the same period in 2019, before the pandemic.

People in mainland China were also eager to travel abroad.
Flight bookings for travel from the mainland to overseas destinations during the first four days of the holiday quadrupled from a year ago, while related hotel reservations doubled, Trip.com said.
Travel vs. big-ticket spending
It’s less clear whether the surge in tourism implies consumption in China is well on its way to recovering from the slump of the last three years. Retail sales fell by 0.2% in 2022.
Domestic daily trips for the Lunar New Year holiday travel period so far — since Jan. 8 — are up by about 50% from a year ago, according to the Ministry of Transport.
But even the tens of millions of trips each day is still down sharply from 2019 levels, the ministry said.
“Shopping mall foot traffic, new home purchases and auto sales data suggest big-ticket consumption may remain subdued,” Nomura’s Lu said.
“Growth in passenger car retail sales in volume terms dropped noticeably to -21.0% y-o-y during 1-15 January from 3.0% in December, following the ending of the seven-month 50% purchase tax cut,” he said in the report.
Chinese households’ penchant to save reached record highs last year amid uncertainties about future income and a slump in the property market. The bulk of household wealth in China is in real estate.
For people in China planning to spend more at physical stores this year, supermarkets ranked the highest, followed by convenience stores, according to an Oliver Wyman survey in December. Shopping malls ranked lower.
However, sentiment can shift quickly.
The study found that within just a week in late December, survey respondents became significantly more comfortable with venturing out.
“We think that’s a very positive sign of resilience and how quickly consumer confidence will improve,” Oliver Wyman partner Imke Wouters said in a phone interview earlier this month. “Retail sales are directly linked to consumer confidence.”