The European aviation industry will see a considerable growth of 2.6% during the forecast period. Europe, particularly Western Europe, is one of the most developed regions across the globe for air transport activity. However, several emerging economies in the east are contributing to the overall growth in Europe, with employment in the European aviation industry expected to grow 2% per annum to 2034, as per Aviation Benefits. However, the outbreak of COVID-19 since March 2020 is significantly affecting the aviation industry of Europe. A decrease in the number of domestic and international flights for the passenger and cargo transport is seen from March 2020.
The flight has decreased in Europe post the announcement of lockdown in COVID-19 affected economies, such as Italy, Spain, Russia, and the UK, among others. As per ICAO, the European aviation industry registered an increase of 29,730 flight movement in January 2020, as compared to January 2019. Though, after January 2020, the flight movement in Europe showed an exponential decline with a 12,147 flight difference in February 2020. In March 2020, several economies announced a national lockdown and posed restrictions on the travel. This has further considerably affected the aviation industry in Europe. In March 2020, the European aviation industry registered a decline of around 2.6 million flights as compared to March 2019. Similarly, the European aviation industry registered a decline of around 6.8 million and 7.5 million flights in April and May 2020 respectively, when compared to the same month of 2019.
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European Aviation Market – Segmentation
By Type
- Cargo Airlines
- Passenger Airlines
- Aircraft Manufacturing
- Airport Management
- Catering & Other Services
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