Latest News- Aviation Market in Europe: Passenger is expected to lead the Revenue Stream segment during 2025-2029

The Aviation Market in Europe is being driven by Increasing efficiency of aircraft

The Aviation Market in Europe is expected to grow at a CAGR of 6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 117 billion. RFID technology, an innovative method utilizing electromagnetic fields to transfer data wirelessly between tags and readers, is gaining significant traction in the European aviation market. RFID tags, affixed to aircraft components, enable real-time tracking and monitoring, enhancing operational efficiency. These tags can be categorized into two types: active, which rely on an internal power source, and passive, which derive power from the electromagnetic fields generated by the reader. The implementation of RFID technology in the European aviation sector offers numerous advantages, including streamlined inventory management, enhanced security, and improved supply chain visibility. The military, aerospace, and retail industries have already embraced RFID technology, and its adoption in aviation is poised to revolutionize the sector by ensuring the authenticity and traceability of aircraft parts. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Revenue Stream
  • Passenger
  • Freight
• Type
  • Commercial aircraft
  • Military aircraft
  • General aircraft
• Component
  • Aircraft
  • MRO
  • Ground handling services
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Spain

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing efficiency of aircraft
• Rise in investments in airport infrastructure
• Expected rise in number of air travelers

However, the market also witnesses some limitations, which are as follows:

• Fluctuations in oil and gas prices
• Complexities in supply chains due to growing technological advancements
• High production and maintenance cost of aircraft

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Market Scope in Aviation Market in Europe Research Report

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Research Analysis Overview

The European aviation market encompasses various sectors including Aircraft Maintenance and Overhaul, Aircraft Parts and Components, Modifications and Upgrades, Flight Simulators and Pilot Training, Airport Management Systems, Passenger Information Systems, Ground Handling and Cargo Handling Equipment, Airport Security, Aviation Data Analytics, Flight Operations Management, Airline Operations, Route Planning, Fleet Management, Aircraft Financing, Aviation Investments, Airport Development, and Expansion. Additionally, it covers Air Cargo and Freight Forwarding, Global and International Air Travel, Domestic Air Travel, Charter Flights, Private Jets, Air Ambulances, Aeromedical Transportation, Space Tourism, Hypersonic and Supersonic Flight, Green Aviation, Sustainable Aviation Fuels, Aviation Technology, Innovation, Airborne Connectivity, and In-Flight Wi-Fi.

Market Research Overview

The European aviation market encompasses various sectors, including aviation services, flight operations, passenger transport, cargo transport, air traffic control, and aircraft leasing. These segments are integral to the broader aerospace and defense industry, which includes the production of commercial and general aviation platforms, defense platforms, arms and ammunition, defense electronics, defense logistics equipment, space platforms, and related MRO activities. According to Technavio, the global capital goods market size is determined by the consolidated revenue of manufacturers and providers catering to industries such as aerospace and defense, building and construction, electrical equipment, industrial conglomerates, machinery, trading companies, and distributors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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