The European aviation industry is expected to see a CAGR of 2.6% during the period (2019-2025). Airlines, airport operators, and other on-site businesses at airports, and air navigation service providers and civil aircraft manufacturers contribute significantly to the GDP of Europe. According to Aviation Benefits, air travel in Europe is expected to continue to grow over the next two decades. 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 passenger and cargo transport is seen from March 2020. As per ICAO, the total number of domestic and international flights for passenger and cargo transport accounted for 432,502 in March 2020, a decrease from 693,961 in March 2019. Likewise, in May 2020, around 72,385 international and domestic flights transported passenger and cargo in Europe, a decline from 821,286 flights in May 2019.

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The European aviation industry is segmented into passenger airlines, cargo airlines, aircraft manufacturing, airport management, and catering & other services. Based on the segmentation, the passenger airline segment is anticipated to get highly affected along with catering & other services. Passenger airline is the largest segment contributing to the aviation industry. The cargo airline segment in North America is showing the highest CAGR of 4.8% during the forecast period.

COVID-19 outbreak has severely impacted the European countries including Spain, Italy, Germany, France, UK, Turkey, and Switzerland. As per ICAO, Germany accounted for the largest air traffic in 2019, followed by UK and France. Though, the outbreak of COVID-19 has impacted the aviation industry of Germany and other economies in the past three months. The organization has estimated the difference in % of the decline of air traffic for January-May 2020 as compared to the same period in 2019. The air traffic of Germany declined by 47.8%, UK (46.2%), France (48.8%), Russia (34.0%), and Spain (52.3%). Apart from these economies, Italy aviation industry showed a downfall of 56.2%, Turkey 49.6%, the Netherlands 46.4%, Norway 32.0%, and Switzerland 47.8%.

Some of the companies operating in the European aviation market and get prominently affected by this outbreak include Aena SME, S.A., Airbus SE, British Airways, Deutsche Lufthansa AG, and Air France KLM-SA. Aena SME, S.A. faced a major fall in passenger traffic of approximately 59.3% in March due to the COVID-19 crisis. The aircraft movements of the company were down by 43.8% at 99,630 operations whereas, freight traffic fell by 29.8%, with 66,692 tons carried. All these declines in the traffic and operations lead to the loss of revenue generation of the company.

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the European aviation industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior, and macro-economic factors. The report includes an analysis of different regions and countries and the effect of COVID-19 on the aviation industry of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the European aviation industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the European aviation industry.
• Insights about market determinants which are stimulating the European aviation industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.