Oshkosh 2023 for General Aviation Technology and Economic Pulse: US vs Europe

Summary

In our opinion Oshkosh during AirVenture, the world’s largest aviation convention, is the only place on Earth where you can have a conversation about a F35 with its pilot, book a flying switchable sports car (I did!), take a ride in the world's first mass-produced airliner (Ford Tri-Motor airplane),  and have a candid conversation with the aircraft manufacturers from all over the world. It is also a great place to figure out the pulse of general aviation and where it is heading from technology to aviation economics. General Aviation aircraft manufacturers especially from Europe are expanding and scaling their efforts in the US. We believe this is due to the US economy  doing better than the European counterpart while the demand for general aviation continues to increase. Flying cars and eVTOLs although they are here and impressive from a technology standpoint, integration is a problem of its own that no one, both private and public sector, is talking about - a plan/regulation doesn’t equal execution.

The US vs European in General Aviation

Here are a few facts and figures for the US and European general aviation industries, as well as the outlook for 2024 and 2025:

• The US general aviation industry is the largest in the world, with over 200,000 aircraft and 600,000 pilots. It supports over 1.2 million jobs and generates $246.8 billion in economic activity (2019).
• The European general aviation industry is the second largest in the world, with over 100,000 aircraft and 250,000 pilots. It supports over 400,000 jobs and generates €87 billion in economic activity.
• The US general aviation industry is expected to grow by 2.5% in 2024 and 3.0% in 2025. The European general aviation industry is expected to grow by 1.5% in 2024 and 2.0% in 2025.

Here are some of the factors that are driving growth in the US general aviation industry:

• The strong economy is leading to increased demand for business travel and leisure flying.
• The aging population is driving demand for medical transportation and air ambulance services.
• The increasing availability of affordable light aircraft is making general aviation more accessible to a wider range of people.

Here are some of the factors that are driving growth in the European general aviation industry:

• The growing middle class is leading to increased demand for private aviation.
• The development of new technologies, such as electric aircraft and self-flying aircraft, is making general aviation more sustainable and efficient.
• The expansion of the European Union is creating new opportunities for cross-border general aviation travel.

Overall, the US and European general aviation industries are both expected to grow in the coming years. The US industry is expected to grow at a slightly faster pace, but the European industry is expected to benefit from a number of long-term trends, such as the growth of the middle class and the development of new technologies.

References 

• General aviation’s economic impact tops $246.8 billion
• FAA Aerospace Forecast Fiscal Years 2022–2042

Learn more

• Details on our presentations and adventures at our company's AI Demo Day II at Oshkosh in July 2023. Tracking down spy planes and danger are just the sliver of what we did. Details here.
• Want to work with us? We are hiring. Details here.
• Our AI Demo Day II, Cross Country Trip at ~6000ft, & Camping @ Oshkosh
• Flying a F-35 at Mach 1, Law, Life and Compartmentalization
• Oshkosh 2023 for General Aviation Technology and Economic Pulse: Flying cars and eVTOLs