Europe General Aviation Market - Analysis of Growth, Trends, and Opportunities (2018 - 2023)
The Europe general aviation market is expected to register a CAGR of 0.71% during the forecast period, 2018 to 2023. The scope of the present market study includes all aviation other than military and scheduled commercial airlines. It covers a broad range of activities, both commercial and non-commercial, including sports aircraft, flying clubs, flight training, agricultural aviation, and light aircraft manufacturing amongst others. General aviation forms a considerable component of any national airspace and airport system. As a result, insight into general aviation industry is relevant to issues in air traffic management, air transportation infrastructure, and aviation safety, among others. Beyond the operational aspect, general aviation is of significance to society, as a whole and other stakeholders, including pilots groups, aircraft manufacturers, and the workforce. The performance of general aviation industry is measured using various parameters, such as active pilots, new airplane deliveries, number of airports, and etc. The market is influenced by several factors, such as the health of global economy, technology disruption, the price of avgas, and jet fuels, regulatory standards, and etc. Increasing number of passengers using chartered jet, travel, and tourism are some of the drivers identified in the current market.
Over 140,000 general aviation aircrafts are based in Europe. The European general aviation fleet can access over 4,200 airports across Europe. The sector is witnessing tremendous growth, due to the rising interest among general public, and increasing number of millionaires. Europe records one of the highest revenue in the general aviation business jets sector and is poised to witness one of the fastest growth rates in future. In Europe, the member states of EU reached an agreement with the European Commission in 2016 to approve a regulatory framework that will allow Commercial Air Transport (CAT) operations to use Single-Engine Turbine airplanes at night or in Instrument Meteorological Conditions (SET-IMC). The rule enables passenger, medical service, and cargo operations to enter into new markets that previously were not possible to serve reliably. The regulation is already on track since 2017. The UK and France records high general aviation activity in the region with business jet aviation, personal fixed wing flying, and helicopter flying comprising the top three activities.
Key Developments in the Market
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