Germany aviation industry is expected to see a CAGR of 2.6% during the period (2019-2025). Germany has the largest number of flight movements and the second largest number of passenger traffic in 2019, as per ICAO. The air connectivity in Germany grew by nearly 30.0% between 2013-2018, as per IATA. The contribution of the aviation industry to the German economy is significant. The industry supports around 1.1 million jobs and contributes around $85.7 billion to the economy, accounting for roughly 2.5% of Germany’s GDP. The IATA has further released a new study in 2019, showing a more competitive air transport sector in Germany that is expected to generate an additional around $54 billion in GDP for the nation’s economy and 400,000 new jobs by 2037.
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Germany 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. A passenger airline is an airline dedicated to the transport of passengers. There are several types of passenger airlines including mainline airlines, regional airlines, low-cost carriers, business class airlines, charter airlines, flag carriers, and others. The cargo airline segment in Germany is showing the highest CAGR of 4.8% during the forecast period. Cargo airlines are the airfreight carriers mainly dedicated to transport cargo by air. It is a costlier means of transport however used to transport necessary and costlier goods all across the globe, at a very fast rate as compared to road, railway, and marine routes.
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Verticals Affected Most
· Cargo Airlines
· Passenger Airlines
· Aircraft Manufacturing
· Airport Management
· Catering & Other Services
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
