Europe General Aviation Market Size
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2030 |
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Market Size (2024) | USD 6.10 Billion |
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Market Size (2030) | USD 9.29 Billion |
|
Largest Share by Sub Aircraft Type | Business Jets |
|
|
CAGR (2024 - 2030) | 7.24 % |
|
Largest Share by Country | UK |
Major Players |
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|
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*Disclaimer: Major Players sorted in alphabetical order. |
Europe General Aviation Market Analysis
The Europe General Aviation Market size is estimated at 6.10 billion USD in 2024, and is expected to reach 9.29 billion USD by 2030, growing at a CAGR of 7.24% during the forecast period (2024-2030).
6.1 B
Market Size in 2024 (USD)
9.3 B
Market Size in 2030 (USD)
3675.4
Total Deliveries in the Historic Period (2017-2023)
4568
Total Deliveries during the Forecast Period (2024-2030)
Largest Market by Sub-Aircraft Type
76.52 %
value share, Business Jets, 2023
The increasing number of high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) in the region acts as a major driver for the market's growth.
Fastest-growing Market by Sub-Aircraft Type
7.46 %
Projected CAGR, Business Jets, 2024-2030
The adoption of large jets in the region by various countries and individuals or companies across various sectors is driving the faster growth of the market.
Largest Market by Body Type
84.90 %
value share, Large Jet, 2023
The preference for large jets across the region is driving the demand. Manufacturers offer a wide range of products to consumers according to their convenience.
Largest Market by Country
12.44 %
value share, UK, 2023
The procurement of large jets by various companies or individuals across various sectors is driving the market's growth in the country.
Leading Market Player
32.64 %
market share, Bombardier Inc., 2022
The wide range of technologically innovative and advanced products, along with a strong customer support network, enables the company to be the leading player.
Business jets are expected to dominate the total number of deliveries during the forecast period
- The recovery of business aviation in 2022 was more sustained compared to 2020. Major leisure destinations recorded significant growth in flight activity and passenger traffic, indicating the substantial contribution of leisure to business aviation. However, the growth has not been consistent across the year, as several months in 2021 saw a drop in demand compared to 2019. This growth improved in 2022 with the opening of more routes.
- In terms of deliveries, during 2017-2022, the large jet segment dominated the region with 53% of the share, followed by light and mid-size jets with 35% and 12%, respectively. During the same period, the OEM that delivered most business jets was Embraer, with 11% of the total jets delivered in the region, followed by Cessna with 10% of jets delivered, Bombardier delivered 9% of the jets, and Gulfstream delivered 7% of the jets.
- Business jet deliveries in Europe were affected during the COVID-19 pandemic, with a decline of 17.5%. In 2021, Bombardier became the leading OEM in terms of business jet deliveries, as it delivered around 36 aircraft, followed by Embraer, Pilatus, Cessna, Gulfstream, and CIRRUS, with 21, 17,15, and 10 deliveries, respectively.
- Cessna was the leading OEM, with 30% of the current operational fleet size, followed by Bombardier and Dassault, with 23% and 14%, respectively, in the European business jet fleet as of July 2022. The surge in HNWI individuals in the region is expected to aid the business jet segment, and around 5062+ aircraft are expected to be delivered between 2023 and 2030.
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The demand for business aviation in the region is expected to aid the European general aviation sector
- The rise of HNWIs and UHNWIs, who prefer private jets and helicopters for personal or business travel in Europe, aided in the procurement of aircraft in the general aviation sector. From 2017 to 2022, the HNWI population in the region increased by 67%. The surge in HNIW population has also aided in the growth of general aviation sector in the region. In 2022, the number of UHNWIs in Europe increased by 5% compared to 2021. This was because the Eurozone utilities, tech stocks, and luxury goods sectors performed well, registering solid gains. Europe recorded the third significant rise in the ultra-wealthy population, which recorded 67% of the global HNWI population during 2017-2022.
- In 2021, air charter service providers witnessed high demand across Europe with the surge in new memberships for business aviation. For instance, in 2021, a major Europe-based air charter service provider, VistaJet, registered a growth of around 53% in new memberships during H1 2021 compared to H1 2020. Out of the new memberships, more than 50% belong to the European region.
- According to the major charter service providers in Europe, demand increased significantly toward the end of 2021 and managed to surpass 2019 levels of traffic. Business aviation traffic has been approximately 20-30% more than in 2019 since August 2021. Due to such strong demand, charter jet service companies are expanding their fleets to meet the growing demand.
- Regarding the current operational fleet, Germany is the leading country with around 18% of the European business jet fleet. The United Kingdom and France accounted for approximately 11% and 9%, respectively, of the European fleet as of December 2022. During 2023-2030, around 5,062 general aviation aircraft are expected to be delivered.
Europe General Aviation Market Trends
Rise in the HNWI population acting as the major growth driver for the market
- HNWIs and UHNWIs often own private jets for personal or business travel. Europe is home to a multitude of scenic and exclusive destinations that may not be easily accessible through commercial flights. Business jets provide the opportunity for HNWIs to fly directly to remote locations, avoiding congested airports and time-consuming connections. In 2022, the number of UHNWIs in Europe increased by 5% compared to 2021. This was because the Eurozone utilities, tech stocks, and luxury goods sectors performed well, registering solid gains. Europe recorded the third significant rise in the ultra-wealthy population, which recorded 67% of the global HNWI population during 2017-2022.
- The leading position of Europe in terms of the number and assets of HNWIs is mainly attributed to Germany, France, and the United Kingdom. In 2022, these three countries alone recorded 67% of the total HNWIs in Europe. Germany led the HNWI population with 3.5 million HNWIs, followed by France with 3.07 million and the United Kingdom with 2.9 million. The United Kingdom attracts a steady stream of high-net-worth individuals from Africa, Asia, and the Middle East. Russia saw the least growth in the HNWI population, which recorded 2%. This was because well-off people have been moving out of Russia every year for the past 10 years, a sign of the current issues the country is facing. The crisis in Ukraine posed risks to the global economy, especially to inflation and financial markets. However, the market is expected to recover during the forecast period. In 2030, the HNWI population is expected to grow by 18.4 million.
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Europe General Aviation Industry Overview
The Europe General Aviation Market is fairly consolidated, with the top five companies occupying 71.33%. The major players in this market are Bombardier Inc., Dassault Aviation, Embraer, General Dynamics Corporation and Textron Inc. (sorted alphabetically).
Europe General Aviation Market Leaders
Bombardier Inc.
Dassault Aviation
Embraer
General Dynamics Corporation
Textron Inc.
Other important companies include Airbus SE, Cirrus Design Corporation, Daher, Diamond Aircraft, Leonardo S.p.A, PIAGGIO AERO INDUSTRIES S.p.A, Pilatus Aircraft Ltd, Robinson Helicopter Company Inc., Tecnam Aircraft.
*Disclaimer: Major Players sorted in alphabetical order.
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Europe General Aviation Market News
- December 2023: Tecnam announced that the renowned Scottish flight training academy ACS Aviation ordered two P-Mentors to be added to their current fleet to expand their fleet capabilities in 2023.
- October 2023: Textron Aviation announced that it entered into a purchase agreement with Fly Alliance for up to 20 Cessna Citation business jets, four firms with options for 16 additional aircraft. Fly Alliance is expected to use the aircraft for its luxury private jet charter operations and is expected to take delivery of the first aircraft, an XLS Gen2, in 2023.
- June 2023: Gulfstream Aerospace Corp. announced today the further expansion of its completions and outfitting operations at St. Louis Downtown Airport. With this latest expansion, Gulfstream is expected to increase completion operations at the site while modernizing its existing spaces by adding new, state-of-the-art equipment and tooling, representing a total capital investment of USD 28.5 million.
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We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 45+ free charts, the section covers data on commercial aircraft deliveries by manufacturer, backlogs of commercial aircraft, active military aircraft fleet by type of aircraft, overall business jets and helicopters fleet by manufacturer and also classified by type of ownership.
Europe General Aviation Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. High-net-worth Individual (hnwi)
2.2. Regulatory Framework
2.3. Value Chain Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
3.1. Sub Aircraft Type
3.1.1. Business Jets
3.1.1.1. Large Jet
3.1.1.2. Light Jet
3.1.1.3. Mid-Size Jet
3.1.2. Piston Fixed-Wing Aircraft
3.1.3. Others
3.2. Country
3.2.1. France
3.2.2. Germany
3.2.3. Italy
3.2.4. Netherlands
3.2.5. Russia
3.2.6. Spain
3.2.7. UK
3.2.8. Rest of Europe
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles
4.4.1. Airbus SE
4.4.2. Bombardier Inc.
4.4.3. Cirrus Design Corporation
4.4.4. Daher
4.4.5. Dassault Aviation
4.4.6. Diamond Aircraft
4.4.7. Embraer
4.4.8. General Dynamics Corporation
4.4.9. Leonardo S.p.A
4.4.10. PIAGGIO AERO INDUSTRIES S.p.A
4.4.11. Pilatus Aircraft Ltd
4.4.12. Robinson Helicopter Company Inc.
4.4.13. Tecnam Aircraft
4.4.14. Textron Inc.
5. KEY STRATEGIC QUESTIONS FOR AVIATION CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- POPULATION OF HIGH-NET-WORTH INDIVIDUAL (HNWI) BY COUNTRY, NUMBER OF HNWIS, EUROPE, 2017 - 2030
- Figure 2:
- NUMBER OF NEW AIRCRAFT DELIVERIES, VOLUME, EUROPE, 2017 - 2030
- Figure 3:
- NUMBER OF NEW AIRCRAFT DELIVERIES, USD, EUROPE, 2017 - 2030
- Figure 4:
- GENERAL AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, VOLUME, EUROPE, 2017 - 2030
- Figure 5:
- GENERAL AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, USD, EUROPE, 2017 - 2030
- Figure 6:
- GENERAL AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, VOLUME %, EUROPE, 2017 VS 2023 VS 2030
- Figure 7:
- GENERAL AVIATION DELIVERIES BY SUB AIRCRAFT TYPE, VALUE %, EUROPE, 2017 VS 2023 VS 2030
- Figure 8:
- BUSINESS JETS DELIVERIES BY BODY TYPE, VOLUME, EUROPE, 2017 - 2030
- Figure 9:
- BUSINESS JETS DELIVERIES BY BODY TYPE, USD, EUROPE, 2017 - 2030
- Figure 10:
- BUSINESS JETS DELIVERIES BY BODY TYPE, VOLUME %, EUROPE, 2017 VS 2023 VS 2030
- Figure 11:
- BUSINESS JETS DELIVERIES BY BODY TYPE, VALUE %, EUROPE, 2017 VS 2023 VS 2030
- Figure 12:
- EUROPE GENERAL AVIATION MARKET, BY LARGE JET, UNITS, 2017 - 2030
- Figure 13:
- EUROPE GENERAL AVIATION MARKET, BY LARGE JET, USD, 2017 - 2030
- Figure 14:
- EUROPE GENERAL AVIATION MARKET, BY BODY TYPE, USD, %, 2023 VS 2030
- Figure 15:
- EUROPE GENERAL AVIATION MARKET, BY LIGHT JET, UNITS, 2017 - 2030
- Figure 16:
- EUROPE GENERAL AVIATION MARKET, BY LIGHT JET, USD, 2017 - 2030
- Figure 17:
- EUROPE GENERAL AVIATION MARKET, BY BODY TYPE, USD, %, 2023 VS 2030
- Figure 18:
- EUROPE GENERAL AVIATION MARKET, BY MID-SIZE JET, UNITS, 2017 - 2030
- Figure 19:
- EUROPE GENERAL AVIATION MARKET, BY MID-SIZE JET, USD, 2017 - 2030
- Figure 20:
- EUROPE GENERAL AVIATION MARKET, BY BODY TYPE, USD, %, 2023 VS 2030
- Figure 21:
- EUROPE GENERAL AVIATION MARKET, BY PISTON FIXED-WING AIRCRAFT, UNITS, 2017 - 2030
- Figure 22:
- EUROPE GENERAL AVIATION MARKET, BY PISTON FIXED-WING AIRCRAFT, USD, 2017 - 2030
- Figure 23:
- EUROPE GENERAL AVIATION MARKET, BY SUB AIRCRAFT TYPE, USD, %, 2023 VS 2030
- Figure 24:
- EUROPE GENERAL AVIATION MARKET, BY OTHERS, UNITS, 2017 - 2030
- Figure 25:
- EUROPE GENERAL AVIATION MARKET, BY OTHERS, USD, 2017 - 2030
- Figure 26:
- EUROPE GENERAL AVIATION MARKET, BY SUB AIRCRAFT TYPE, USD, %, 2023 VS 2030
- Figure 27:
- GENERAL AVIATION DELIVERIES BY COUNTRY, VOLUME, EUROPE, 2017 - 2030
- Figure 28:
- GENERAL AVIATION DELIVERIES BY COUNTRY, USD, EUROPE, 2017 - 2030
- Figure 29:
- GENERAL AVIATION DELIVERIES BY COUNTRY, VOLUME %, EUROPE, 2017 VS 2023 VS 2030
- Figure 30:
- GENERAL AVIATION DELIVERIES BY COUNTRY, VALUE %, EUROPE, 2017 VS 2023 VS 2030
- Figure 31:
- EUROPE GENERAL AVIATION MARKET, BY FRANCE, UNITS, 2017 - 2030
- Figure 32:
- EUROPE GENERAL AVIATION MARKET, BY FRANCE, USD, 2017 - 2030
- Figure 33:
- GENERAL AVIATION DELIVERIES SHARE, VALUE, %, FRANCE, 2023 VS 2030
- Figure 34:
- EUROPE GENERAL AVIATION MARKET, BY GERMANY, UNITS, 2017 - 2030
- Figure 35:
- EUROPE GENERAL AVIATION MARKET, BY GERMANY, USD, 2017 - 2030
- Figure 36:
- GENERAL AVIATION DELIVERIES SHARE, VALUE, %, GERMANY, 2023 VS 2030
- Figure 37:
- EUROPE GENERAL AVIATION MARKET, BY ITALY, UNITS, 2017 - 2030
- Figure 38:
- EUROPE GENERAL AVIATION MARKET, BY ITALY, USD, 2017 - 2030
- Figure 39:
- GENERAL AVIATION DELIVERIES SHARE, VALUE, %, ITALY, 2023 VS 2030
- Figure 40:
- EUROPE GENERAL AVIATION MARKET, BY NETHERLANDS, UNITS, 2017 - 2030
- Figure 41:
- EUROPE GENERAL AVIATION MARKET, BY NETHERLANDS, USD, 2017 - 2030
- Figure 42:
- GENERAL AVIATION DELIVERIES SHARE, VALUE, %, NETHERLANDS, 2023 VS 2030
- Figure 43:
- EUROPE GENERAL AVIATION MARKET, BY RUSSIA, UNITS, 2017 - 2030
- Figure 44:
- EUROPE GENERAL AVIATION MARKET, BY RUSSIA, USD, 2017 - 2030
- Figure 45:
- GENERAL AVIATION DELIVERIES SHARE, VALUE, %, RUSSIA, 2023 VS 2030
- Figure 46:
- EUROPE GENERAL AVIATION MARKET, BY SPAIN, UNITS, 2017 - 2030
- Figure 47:
- EUROPE GENERAL AVIATION MARKET, BY SPAIN, USD, 2017 - 2030
- Figure 48:
- GENERAL AVIATION DELIVERIES SHARE, VALUE, %, SPAIN, 2023 VS 2030
- Figure 49:
- EUROPE GENERAL AVIATION MARKET, BY UK, UNITS, 2017 - 2030
- Figure 50:
- EUROPE GENERAL AVIATION MARKET, BY UK, USD, 2017 - 2030
- Figure 51:
- GENERAL AVIATION DELIVERIES SHARE, VALUE, %, UK, 2023 VS 2030
- Figure 52:
- EUROPE GENERAL AVIATION MARKET, BY REST OF EUROPE, UNITS, 2017 - 2030
- Figure 53:
- EUROPE GENERAL AVIATION MARKET, BY REST OF EUROPE, USD, 2017 - 2030
- Figure 54:
- GENERAL AVIATION DELIVERIES SHARE, VALUE, %, REST OF EUROPE, 2023 VS 2030
- Figure 55:
- MOST ACTIVE COMPANIES, NUMBER OF STRATEGIC MOVES, EUROPE, 2018-2023
- Figure 56:
- MOST ADOPTED STRATEGIES, COUNT, EUROPE, 2018 - 2023
- Figure 57:
- MAJOR PLAYERS REVENUE SHARE (%), EUROPE, 2023
Europe General Aviation Industry Segmentation
Business Jets, Piston Fixed-Wing Aircraft, Others are covered as segments by Sub Aircraft Type. France, Germany, Italy, Netherlands, Russia, Spain, UK are covered as segments by Country.
- The recovery of business aviation in 2022 was more sustained compared to 2020. Major leisure destinations recorded significant growth in flight activity and passenger traffic, indicating the substantial contribution of leisure to business aviation. However, the growth has not been consistent across the year, as several months in 2021 saw a drop in demand compared to 2019. This growth improved in 2022 with the opening of more routes.
- In terms of deliveries, during 2017-2022, the large jet segment dominated the region with 53% of the share, followed by light and mid-size jets with 35% and 12%, respectively. During the same period, the OEM that delivered most business jets was Embraer, with 11% of the total jets delivered in the region, followed by Cessna with 10% of jets delivered, Bombardier delivered 9% of the jets, and Gulfstream delivered 7% of the jets.
- Business jet deliveries in Europe were affected during the COVID-19 pandemic, with a decline of 17.5%. In 2021, Bombardier became the leading OEM in terms of business jet deliveries, as it delivered around 36 aircraft, followed by Embraer, Pilatus, Cessna, Gulfstream, and CIRRUS, with 21, 17,15, and 10 deliveries, respectively.
- Cessna was the leading OEM, with 30% of the current operational fleet size, followed by Bombardier and Dassault, with 23% and 14%, respectively, in the European business jet fleet as of July 2022. The surge in HNWI individuals in the region is expected to aid the business jet segment, and around 5062+ aircraft are expected to be delivered between 2023 and 2030.
| Sub Aircraft Type | |||||
| |||||
| Piston Fixed-Wing Aircraft | |||||
| Others |
| Country | |
| France | |
| Germany | |
| Italy | |
| Netherlands | |
| Russia | |
| Spain | |
| UK | |
| Rest of Europe |
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Market Definition
- Aircraft Type - General Aviation includes aircraft used for corporate aviation, business aviation and other aerial works.
- Sub-Aircraft Type - Business Jets, Piston Fixed-Wing Aircraft, and helicopters and turboprop aircraft are taken into consideration.
- Body Type - Light Jets, Mid-Size Jets, and Large Jets according to their ability to carry passengers and flying distance ranges have been included under this study.
| Keyword | Definition |
|---|---|
| IATA | IATA stands for the International Air Transport Association, a trade organization composed of airlines around the world that has an influence over the commercial aspects of flight. |
| ICAO | ICAO stands for International Civil Aviation Organization, a specialized agency of the United Nations that supports aviation and navigation around the globe. |
| Air Operator Certificate (AOC) | A certificate granted by a National Aviation Authority permitting the conduct of commercial flying activities. |
| Certificate Of Airworthiness (CoA) | A Certificate Of Airworthiness (CoA) is issued for an aircraft by the civil aviation authority in the state in which the aircraft is registered. |
| Gross Domestic Product (GDP) | Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period by countries. |
| RPK (Revenue Passenger Kilometres) | The RPK of an airline is the sum of the products obtained by multiplying the number of revenue passengers carried on each flight stage by the stage distance - it is the total number of kilometers traveled by all revenue passengers. |
| Load Factor | The load factor is a metric used in the airline industry that measures the percentage of available seating capacity that has been filled with passengers. |
| Original Equipment Manufacturer (OEM) | An original equipment manufacturer (OEM) traditionally is defined as a company whose goods are used as components in the products of another company, which then sells the finished item to users. |
| International Transportation Safety Association (ITSA) | International Transportation Safety Association (ITSA) is an international network of heads of independent safety investigation authorities (SIA). |
| Available Seats Kilometre (ASK) | This metric is calculated by multiplying Available Seats (AS) in one flight, defined above, multiplied by the distance flown. |
| Gross Weight | The fully-loaded weight of an aircraft, also known as “takeoff weight,” which includes the combined weight of passengers, cargo, and fuel. |
| Airworthiness | The ability of an aircraft, or other airborne equipment or system, to operate in flight and on the ground without significant hazard to aircrew, ground crew, passengers or to other third parties. |
| Airworthiness Standards | Detailed and comprehensive design and safety criteria applicable to the category of aeronautical product (aircraft, engine or propeller). |
| Fixed Base Operator (FBO) | A business or organization that operates at an airport. An FBO provides aircraft operating services like maintenance, fueling, flight training, charter services, hangaring, and parking. |
| High Net worth Individuals (HNWIs) | High Net worth Individuals (HNWIs) are individuals with over USD 1 million in liquid financial assets. |
| Ultra High Net worth Individuals (UHNWIs) | Ultra High Net worth Individuals (UHNWIs) are individuals with over USD 30 million in liquid financial assets. |
| Federal Aviation Administration (FAA) | The division of the Department of Transportation is concerned with aviation. It operates Air Traffic Control and regulates everything from aircraft manufacturing to pilot training to airport operations in the United States. |
| EASA (European Aviation Safety Agency) | The European Aviation Safety Agency is a European Union agency established in 2002 with the task of overseeing civil aviation safety and regulation. |
| Airborne Warning and Control System (AW&C) aircraft | Airborne Warning and Control System (AEW&C) aircraft is equipped with a powerful radar and on-board command and control center to direct the armed forces. |
| The North Atlantic Treaty Organization (NATO) | The North Atlantic Treaty Organization (NATO), also called the North Atlantic Alliance, is an intergovernmental military alliance between 30 member states – 28 European and two North American. |
| Joint Strike Fighter (JSF) | Joint Strike Fighter (JSF) is a development and acquisition program intended to replace a wide range of existing fighter, strike, and ground attack aircraft for the United States, the United Kingdom, Italy, Canada, Australia, the Netherlands, Denmark, Norway, and formerly Turkey. |
| Light Combat Aircraft (LCA) | A light combat aircraft (LCA) is a light, multirole jet/turboprop military aircraft, commonly derived from advanced trainer designs, designed for engaging in light combat. |
| Stockholm International Peace Research Institute (SIPRI) | Stockholm International Peace Research Institute (SIPRI) is an international institute that provides data, analysis, and recommendations for armed conflict, military expenditure, and arms trade as well as disarmament and arms control. |
| Maritime Patrol Aircraft (MPA) | A maritime patrol aircraft (MPA), also known as maritime reconnaissance aircraft is a fixed-wing aircraft designed to operate for long durations over water in maritime patrol roles, in particular, anti-submarine warfare (ASW), anti-ship warfare (AShW), and search and rescue (SAR). |
| Mach Number | The Mach number is defined as the ratio of true airspeed to the speed of sound at the altitude of a given aircraft. |
| Stealth Aircraft | Stealth is a Common term applied to low observable (LO) technology and doctrine, that makes an aircraft near invisible to radar, infrared or visual detection. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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