The European general aviation market is expected to witness a stagnant growth rate till 2020, where Western European countries such as Spain and Italy will develop and Eastern European region will record greater growth rates.
Factors such as the rising interest among the general public and increasing number of High Net Worth Individuals is expected to drive the European general aviation market. Lack of proper safety measures is the main hindrance for the growth of the General Aviation market in Europe. About three accidents per day are recorded in the General Aviation Sector in Europe. Most major accidents are likely to be reflected due to involvement of outside authorities. European Union general aviation industry is breaking out to the world markets in an extraordinary way on the industrial scale.
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Proper regulation and stimulation of innovation and research are required so that the momentum can be sustained. The general aviation is affecting the environment andthere is a need to contribute to reducing these impacts
On the basis of type, the general aviation market has been segmented into single engine piston, two-engine piston, turboprop, business jets and gliders. Business jets hold the major shares in the market and dominate the General Aviation Market.
Europe controls around 1/5th of the business jet market, however, in Western Europe, the growth is expected to be quite stagnant. Large Cabin, Medium and Small Cabin Jets are the three broad categories of business jets. Europe records the highest revenue in the general aviation business jets sector and is poised to witness one of the fastest growth rates in the future. European General Aviation Market can be geographically segmented into the regions of Germany France, United Kingdom,Russia Italy and Benelux.
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Elixir Aircraft showcased the new two-seat light airplane prototype at the Paris Air Show. The aircraft company aims at getting EASA-LSA certification for its all-composite aircraft, which is expected to be priced at USD 168,000
The new aircraft is expected to become the king of the Light Sport Aircraft segment, if all its claimed features hit the right mark; thus, harming sales of, LSA manufacturing firms’ line, Piper.
Some of the key players in the European General Aviation Market are Airbus, Saint Gobain, Kaman Corperation, Orbital ATK, Meggitt, General Dynamics, Nordam, Harris, Starwin Industries, KitsapComposities and Jenoptik.
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