Report : Europe CNC Milling Machines Market forecast to 2028 – COVID-19 Impact and Regional analysis – by structure (gantry, moving table, fixed table, and column type), x-axis working range (less than 2000 mm, 2001 mm to 5000 mm, 5001 mm to 7000 mm, and above 7000 mm), number of axis (3-axis, 4-axis, 5-axis, and others), and application (automotive & transportation, aerospace & defense, oil & gas, and others)
At 10.8% CAGR, the Europe CNC Milling Machines Market is projected to be worth US$ 4,737.15 million by 2028, says The Business Market Insights
According to the Business Market Insights’ research, the Europe CNC milling machines market was valued at US$ 2,840.49 million in 2023 and is expected to reach US$ 4,737.15 million by 2028, registering a CAGR of 10.8% from 2023 to 2028. Increase in production of military aircraft and surge in automotive production are the critical factors attributed to the Europe CNC milling machines market expansion.
The defense aircraft industry is tremendously dynamic in terms of orders, component supply, production volume, supply, cost, and profits. Governments of various countries, as well as private and public companies, are investing huge capital in enhancing aircraft capabilities to meet the aircraft requirements during combat/non-combat scenarios. Further, the manufacturers of defense aircraft models such as fixed wing and rotary wing are experiencing a rise in demand for their models from defense forces across region. Owing to the modernization strategies=adopted by governments and defense authorities. To deliver the desired quality of models, aircraft makers are integrating the models with advanced hardware and software. The military aircraft industry is heavily dominated by a few manufacturers, including Lockheed Martin Corporation, Boeing, Airbus Defense, Dassault Aviation, and Textron Inc. These market players are continuously focusing on enhancing their production capacity to meet the ever-growing demand for military aircrafts. CNC milling machines are used in aircraft production for manufacturing and assembling several aircraft parts. Thus, the rising production of military aircraft is driving the demand for CNC milling machines, thereby contributing to the growth of the market.
On the contrary, availability of alternate manufacturing methods hurdles the growth of Europe CNC milling machines market.
Based on structure, the Europe CNC milling machines markets is segmented into gantry, moving table, fixed table, and column type. The gantry segment held 55.8% market share in 2023, amassing US$ 1,585.74 million. It is projected to garner US$ 2,661.70 million by 2028 to expand at 10.9% CAGR during 2023–2028.
Based on x-axis working range, the Europe CNC milling machines market is segmented into less than 2000 mm, 2001 mm to 5000 mm, 5001 mm to 7000 mm, and above 7000 mm. The less than 2000 mm segment held 39.6% market share in 2023, amassing US$ 1,125.42 million. It is projected to garner US$ 1,792.61 million by 2028 to expand at 9.8% CAGR during 2023–2028.
Based on number of axis, the Europe CNC milling machines market is segmented into 3-axis, 4-axis, 5-axis, and others. The 3-axis segment held 61.1% market share in 2023, amassing US$ 1,736.40 million. It is projected to garner US$ 2,813.24 million by 2028 to expand at 10.1% CAGR during 2023-2028.
Based on application, the Europe CNC milling machines market is segmented into automotive & transportation, aerospace & defense, oil & gas, and others. the automotive & transportation segment held 40.4% market share in 2023, amassing US$ 1,146.66 million, it is projected to garner US$ 1,949.69 million by 2028 to expand at 11.2% CAGR during 2023-2028.
Based on country, Europe CNC milling machines market has been categorized into France, Germany, UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that US captured 29.1% market share in 2023. It was assessed at US$ 827.48 million in 2023 and is likely to hit US$ 1,407.82 million by 2028, exhibiting a CAGR of 11.2% during the forecast period.
Key players dominating the Europe CNC milling machines market AWEA Mechantronic Co Ltd, EMCO GmbH, Fives SAS, JOBS SpA, Nicolas Correa SA, Nidec Corp, Okuma Corp, Pietro Carnaghi SpA
- In 2023, TOS VARNSDORF, a.s. is the solver of the project "Setup of a demonstrator for a milling CPPS." The project runs from November 2021. The "milling CPPS" demonstrator belongs to the field of metal-cutting manufacturing. There, the demands on quality and productivity are constantly increasing.
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