Europe Aviation Market : Opportunities, Trends and Challenges (2018-2023)
Europe Aviation Market
Aviation is the art of aeronautics, which includes building, operating machines that can take flight. There are basically two broad categories of aviation, such as, the Civil Aviation that includes both general & scheduled commercial air transport, and the military aviation. In 2022, the market is expected to value USD XX billion registering an estimated CAGR of XX%, during 2017-2022 (the forecast period).
European aviation sector is witnessing tremendous growth, due to the rising interest among the general public, increasing levels of defense expenditure, and high standard of infrastructure. Even though the European Aviation Market is in a bad shape, the defense market is expected to see a major growth in future. The rising threat of terrorism, particularly, from the Islamic State of Iraq and the Levant, is expected to force the countries to spend higher amounts on buying military aircraft, which is anticipated to boost the overall aviation market in Europe.
There has been a growth in demand for commercial jets, starting from 2011, which happened because of the introduction of new technology that enabled jets to record superior levels of efficiency. Three years back, the price of ATF was at its peak, so efficiency considerations played a huge role in making buying decisions. The demand is so much that there have been huge levels of backlog. At present, Airbus and Boeing an order book in excess of 12,589 aircraft, which represents at least 10 years’ worth of production. So at least for the next one decade, irrespective of the actual market scenario, commercial jets are expected to witness impressive growth levels.
Europe Air Traffic 2011 – 2016 (In Billion)
Source: Mordor Intelligence Analysis
Economic slump in Europe
The penetration of rotary wing in civil aviation and the overall growth rate have been substantial in Europe, due to the tough economic situation. Moreover, as the market is saturating, the turboprop planes market is expected to decelerate in the region. The European Economy is in a bad shape since 2008 and has not really recovered from the economic recession.
Barring the North European countries, most of the countries in southern Europe have been undergoing recession, which has greatly impacted the aviation market. The aviation market in Europe is expected to record the slowest growth rate when compared to other regions of the world. However, there are certain market segments where the European Market is anticipated to lead and be a driver of revenue.
Breaking News –
Elixir Aircraft showcased the new two-seat light airplane prototype at the Paris Air Show. The aircraft company aims at getting EASA-LSA certification for its all-composite aircraft, which is expected to be priced at USD 168,000. The new aircraft is expected to become the king of the LSA segment, if all its claimed features hit the right mark; thus, harming sales of, LSA manufacturing firms’ line, Piper.
Questions Answered in the Report
What is the present scenario of the European general aviation market?
How is the market projected to grow during the forecast period?
Which aircraft manufacturing firm is leading the market in aviation?
Are new players entering the market? Who are these new players?
What are the recent developments in the market?