Describe and Analyze the Commercial Airline Industry with Porter's Five ForcesObjective:Conduct a comprehensive analysis of the commercial airline industry by applying Porter's Five Forces framework. This analysis will help in understanding the competitive dynamics for a company considering entry into this sector.Instructions:Your analysis should address each of the following areas, considering the current market conditions, trends, and the inherent characteristics of the airline industry. Your response should not only identify the key factors in each area but also evaluate their potential impact on a new entrant. Provide examples where possible to support your analysis.Buyer Power:Assess the degree of bargaining power that consumers $($both individuals and businesses$)$ have in the airline industry. Consider factors such as the availability of alternative airlines, the level of differentiation between services offered by different airlines, customer loyalty programs, and the transparency and availability of pricing information.Question: How do the characteristics of the airline market affect the bargaining power of buyers, and what strategies can a new entrant adopt to mitigate the impact of high buyer power?Supplier Power:Evaluate the bargaining power of suppliers within the airline industry. Key suppliers include aircraft manufacturers, fuel suppliers, and providers of in$-$flight services and airport facilities. Analyze the concentration of suppliers, the availability of substitute supplies, and the importance of suppliers' products to the airlines.Question: What are the implications of supplier power for a new entrant in the commercial airline industry, and how can a company entering this industry manage its relationships with suppliers to enhance its competitive position?Threat of Substitute Products$/$Services:Identify and assess the threat posed by substitute products or services to the airline industry. Substitutes may include other modes of transportation $($e$.$g$.,$ high$-$speed trains, buses, personal vehicles$)$ or technological alternatives $($e$.$g$.,$ video conferencing for business meetings$).$Question: How significant is the threat of substitutes for the airline industry, and what measures can a new entrant take to differentiate its services and reduce the attractiveness of substitutes?Threat of New Entrants:Analyze the barriers to entry in the airline industry, which may include high capital requirements, regulatory hurdles, access to airport slots, and the need to achieve economies of scale. Consider also the role of strategic alliances and partnerships in the industry.Question: Given the barriers to entry in the airline industry, what strategies should a new entrant consider successfully entering and competing in this market?Rivalry among Competitors:Examine the level of competitive rivalry within the airline industry. Factors to consider include the number and size of competitors, the rate of industry growth, the degree of product differentiation, and the presence of exit barriers.Question: How does the intensity of competitive rivalry affect the strategic choices of a new entrant, and what strategies can be adopted to gain a competitive advantage in a highly competitive market? Deliverables:A comprehensive report that addresses each of the five forces outlined above.Evidence$-$based analysis supported by examples from the airline industry.Strategic recommendations for a company considering entry into the commercial airline industry based on the findings of the Five Forces analysis.Submission Guidelines:Submit your report in a PDF format.Ensure your analysis is clear, concise, and well$-$structured.Include any references or sources consulted in your analysis.Evaluation Criteria:Depth and relevance of the analysis for each of the five forces.Ability to provide insightful and practical strategic recommendations.Clarity of expression, logical structure, and adherence to submission guidelines.