Europe Aviation Market: Analysis by Industry Growth, Size, Share, Demand, Trends and Manufacturer Analysis Research Report and Forecast: 2022-2031

Japan, Japan, Fri, Mar 25 2022 06:21:54 / Comserve Inc. / – Europe Aviation Market with Top Country Data, Industry Analysis, Size, Share, Revenue , Important Players, Developing Technologies, Trends and Forecasts

Europe Aviation Market was valued at USD 37.78 Billion in 2020 and is projected to reach USD 68.41 Billion by 2026 growing at a CAGR of 7.47% during the forecast period (2022-2031).

Europe is one of the earliest and most affected regions in the world due to the COVID-19 pandemic. The aeronautical industry is an industry of strategic importance for several countries in the region. The drop in passenger traffic and airline activity in 2020 has led to huge losses for airlines in the region, with several airlines, including some of Europe’s largest airlines, asking governments for substantial economic support for their survival. . Major commercial airlines have grounded majority of their fleets and canceled orders for new aircraft, thus hampering the growth of the studied market over the forecast period.

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In addition, the advent of the second wave of the pandemic and the renewal of border restrictions have had a considerable impact on general and commercial aviation flight activity in the main markets of the region, while the sector military remained resilient.

Due to increasing US pressure on NATO members to meet their defense spending target (2% of GDP), several countries in Europe are planning to increase their military budget allocation in the years to come. It is estimated that a significant portion of the allocation should be directed towards the development and acquisition of combat and non-combat military aircraft, as several major countries in the region are involved in the development of next-generation military aircraft. while many countries need a modernization of the fleet to maintain technological superiority over their adversaries.

Main market trends

Rise in defense spending to drive the growth of the military segment during the forecast period

In Europe, the commercial and general aviation segments are affected due to border restrictions and lower passenger demand for the full year 2020 as well as in the first quarter of 2021. However, demand from the military segment is expected to be relatively unaffected by the pandemic. Despite the effect of the pandemic on the economies of countries in the region, most countries in Europe increased their defense spending in 2020. The average spending of European NATO members increased from 1.52% of the GDP in 2019 to 1.64% of GDP in 2020. In addition, the engagement of key European defense markets such as France, Germany, Italy and the UK will continue to increase defense budgets. defense over the forecast period and is expected to make Europe the fastest growing region in the world in terms of defence. expenses. Driven by this, several countries in Europe have drawn up plans to modernize and improve their fleet of military aircraft over the next decade.

The UK, France, Germany, Poland, Italy, Spain, Finland, Slovakia, Romania, Bulgaria and Croatia, among others, have announced plans and orders for the acquisition of new combat and non-combat aircraft during the forecast period. In addition, countries in the region are also building their local aircraft manufacturing capabilities. While France, Germany and Spain are working together on the Future Combat Air System (FCAS), the UK’s BAE System is working on the sixth-generation Tempest fighter jet. At the same time, Russia is also working on several next-generation combat and non-combat air platforms. All these factors are expected to boost the military segment of the market over the forecast period.

UK is expected to dominate the European aviation market over the forecast period

In the European aviation market, the UK currently accounts for a significant share in terms of revenue. The UK has some of the busiest international airports in Europe like London Heathrow Airport, Gatwick Airport, Manchester Airport, etc. Despite a huge reduction (around 72%) in passenger traffic in 2020, London Heathrow Airport remained one of the busiest airports in Europe in 2020. Although the COVID-19 pandemic significantly affected plans future growth opportunities for carriers like EasyJet and Virgin Atlantic, a few airlines are defying industry pessimism about the impact of COVID-19 and have expanded their order book in 2020.

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For example, in December 2020, Ryanair placed an order for 75 B737 MAX aircraft worth over $9 billion in hopes that its customer base would grow from 149 million by 2022 to 200 million by 2026. British Airways’ fleet of new planes is also growing as the airline takes deliveries of the Airbus A350 after the retirement of its Boeing 747 in early 2020. The airline has, however, pushed back initial deliveries of the Boeing 777X aircraft from 2022 to 2024 due to Boeing delay. Apart from commercial aviation, the UK government has invested heavily in upgrading its fleet of fighter jets. The Royal Air Force and Royal Navy planned to acquire 138 Lockheed Martin F-35B STOVL aircraft in total, of which 21 aircraft were in service in 2020, out of the 48 planned to be acquired by 2025.

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Competitive landscape

Airbus SE, Boeing, Lockheed Martin Corporation, Leonardo SpA and Dassault Aviation SA are some of the major players in this region. Airbus dominates the European commercial and military aviation market. The market is highly competitive and mostly dominated by a few players. The aviation industry is expected to see new innovations implemented in aircraft design, which should change the meaning of safety, comfort and efficiency for passengers and aircraft manufacturers. Companies are eager to seize the opportunities presented by new technological innovations, thereby increasing their respective market shares. Several countries are teaming up to develop new models of military aircraft, which should strengthen the prospects of local players in these countries. For example, Germany, France and Spain are involved in the development of a new generation combat aircraft named Future Combat Air System (FCAS). Such programs are expected to drive the growth of local players in these countries over the forecast period.

1.1 Assumptions of the study
1.2 Scope of the study



4.1 Market Overview
4.2 Market Drivers
4.3 Market Constraints
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of new entrants
4.4.2 Bargaining power of buyers/consumers
4.4.3 Bargaining power of suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION (Market Size by Value – USD Billion)

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