Market Size of Europe Aviation Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 67.81 Billion |
| Market Size (2029) | USD 78.53 Billion |
| CAGR (2024 - 2029) | 2.98 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Aviation Market Analysis
The Europe Aviation Market size is estimated at USD 67.81 billion in 2024, and is expected to reach USD 78.53 billion by 2029, growing at a CAGR of 2.98% during the forecast period (2024-2029).
In Europe, some airlines’ financial performance has been curtailed by the war in Ukraine. Nevertheless, the region to return to profitability in 2023 when a net profit of USD 612 million is forecast. Furthermore, growing air traffic, an increasing number of airports, and rising spending on procuring business jets drive market growth across Europe.
Factors such as increasing demand for charter aviation and surging demand for electric aircraft across Europe propel the growth of the market. Several vendors and aviation research organizations have been working on the development of advanced power-efficient and low-emission aircraft models, such as hybrid electric and fully electric aircraft.
Furthermore, several major countries in the region are involved in the development of next-generation military aircraft. In contrast, many countries require rapid fleet modernization to maintain technological superiority over their adversaries.
However, volatile fuel prices and geopolitical uncertainties can act as restraints and are likely to impact the overall aviation industry in Europe during the forecast period.
