UK Aviation Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

UK Aviation Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The UK Aviation Market is projected to register a CAGR of 3.16%

Key Highlights

• Largest Market by Aircraft Type - Commercial Aviation : Increasing air passenger traffic and its recovery to pre-pandemic levels, coupled with replacing existing aircraft with advanced sustainable aircraft, is driving the commercial aviation market.
• Largest Market by Sub-Aircraft Type - Passenger Aircraft : Strong recovery in domestic air travel and gaining momentum in international traffic act as a catalyst for passenger aircraft market growth in the country.

Key Market TrendsCommercial Aviation is the largest segment by Aircraft Type.

• In the United Kingdom, the GDP of the aviation sector, including airlines and their supply chain, is projected to be USD 86 billion. An additional USD 34 billion, totaling USD 120 billion of the country's GDP, is supported by international visitor spending. The inputs to the air transport sector and foreign visitors who arrive by air contribute 4.5% to the country’s GDP overall.
• General aviation employs around 12,000 people in the UK. About 96% of the 21,000 civilian aircraft registered in the UK are used for general aviation, and the GA fleet logs between 1.25 million and 1.35 million hours of flight time yearly. There are 10,000 certified glider pilots and 28,000 people with Private Pilot Licenses (PPL). The use of more accessible aircraft, such as microlights, locally built airplanes, and smaller helicopters, saw a rise in the past 20 years.
• The country's military budget for 2021 was USD 68.37 billion, an increase of 13% from 2020. The country committed 4.66% of its share of overall government spending to the military. By joining NATO, the UK agreed to commit 2% of its yearly GDP to defense. The UK currently spends little more than 2% of its GDP on the armed forces. The country is buying new-generation aircraft to improve its aviation capabilities, thus resulting in increased military spending.

Competitive Landscape

The UK Aviation Market is fairly consolidated, with the top five companies occupying 94.76%. The major players in this market are Airbus SE, General Dynamics Corporation, Lockheed Martin Corporation, MD Helicopters LLC. and The Boeing Company (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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