Market Trends of europe commercial aircraft cabin lighting Industry
Factors such as recovery in air travel and substantial aircraft orders being placed by various airlines are driving the growth of the market
- Ongoing political tensions between China and the United States have impacted Boeing, and it now plans to remarket some 737 MAX jets earmarked for Chinese customers. Boeing is facing a difficult situation as Chinese airlines are no longer ordering its jets. The Boeing delivery center in Zhoushan, China, is ready and is expected to resume delivery of 737 MAX aircraft. The Zhoushan plant can accommodate 100 aircraft annually.
- Year-to-date, Airbus accumulated 1,044 net new orders (1,080 gross orders), compared to 259 net new orders (442 gross orders) in the first half of 2022. In 2022, Airbus booked 820 net new orders (1,078 gross orders), surpassing both 2021 gross orders and net new orders. In 2022, Airbus won the orders crown for the fourth consecutive year by a fairly slim margin of just 46 aircraft compared to Boeing. In 2021, Airbus booked a total of 771 gross orders and received 264 cancellations, for a total of 507 net new orders. In June 2023, Airbus booked orders for a whopping 902 aircraft for 12 different customers and reported two A321neo cancellations, for a total of 900 net new orders.
- Year-to-date, Boeing accumulated 415 net new orders (527 gross orders), compared to 186 net new orders (286 gross orders) in the first six months of last year. In 2022, Boeing booked 774 net new orders (935 gross orders), up from 479 net new orders (909 gross orders) in 2021. As of June 2023, Boeing booked orders from nine customers for a total of 304 jets (gross orders). However, the company also reported 16 777X cancellations, resulting in 288 net new orders.
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The growth in air passenger traffic is expected to be supported by the increasing demand for domestic and international air travel
- The gradual relaxation of travel restrictions in various European countries in 2022 made travel within the continent much easier than during the COVID-19 pandemic. Due to this trend, international demand soared, with passengers unable to travel during the lockdowns eager to fly abroad once again instead of taking domestic vacations. In 2022, air passenger traffic in the whole of Europe reached 1.3 billion, a growth of 8% compared to 2021. The United Kingdom, Germany, and Spain accounted for 36% of the total air passenger traffic in Europe and, hence, may generate more demand for new aircraft compared to other European countries over the coming years. European airlines have also been responsible for carrying almost 40% of global international air passengers.
- European airport traffic grew by 247% in the first six months of 2022 compared to 2021, resulting in an additional 660 million passengers handled across the continent. The United Kingdom, the Netherlands, Turkey, and Germany, which have some of the countries with the busiest airports, recorded a significant rise in passenger traffic in H1 2022. In August 2022, passenger traffic in the top five European airports increased by 68.1% but remained -17.5% below pre-pandemic August 2019 levels, mainly due to continued travel restrictions in Asia. A similar increase in air passenger traffic was observed at airports in the Rest of Europe in August 2022. Commercial air traffic declined from Ukrainian airports, and airports in Belarus and Russia recorded declining passenger volumes as well since the beginning of the Russia-Ukraine War. The air passenger traffic is expected to surge by 31% during 2023-2030, with increased demand in domestic and international aviation.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The main reasons for market growth are the expansion of the fleet and the increased demand for passenger air travel in Europe
- The primary source of revenue for aircraft manufacturers is commercial aircraft orders placed with major airlines
- The surge in the number of passengers has aided the expenditure on aviation infrastructure, with the upgradation of existing airports and the construction of new airports expected in Europe
- The economic development initiatives implemented in the European Union are expected aid the GDP per capita income growth in the region
- The major OEMs in the market, Boeing and Airbus, are expected to increase their deliveries during 2023-2030, leading to a balanced number of aircraft backlogs
- Airlines are planning to reduce aircraft fuel consumption in order to reduce the overall aircraft weight
