Increasing deliveries of Unmanned Aerial Vehicles (UAVs) around the globe and rise in fund raising by technology developers in urban air mobility are the major factors driving the global ultralight and light aircraft market
The ultralight and light aircraft market size is expected to grow from USD 7.1 billion in 2018 to USD 13.9 billion by 2030, at a CAGR of 5.80% during the forecast period. The market for ultralight and light aircraft is driven by various factors, such as the increasing demand for recreational flights and deliveries of Unmanned Aerial Vehicles (UAVs). The global deliveries of ultralight and light aircraft are increasing, supported by the demand for air taxi and urban air mobility. However, risks associated with the passenger safety and restrictions on flying drones commercially are limiting the overall growth of the market.
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The light aircraft type segment is estimated to account for the largest share of the ultralight and light aircraft market in 2018
Based on aircraft type, the light aircraft segment is estimated to account for the largest share of the ultralight and light aircraft market in 2018. These aircraft are used for various air taxi services and charter flights, which are projected to drive the growth of light aircraft deliveries worldwide. However, rise in the demand for ultralight aircraft in urban air transport is driving the growth of ultralight aircraft type market.
The civil & commercial end use segment is estimated to account for the largest share of the ultralight and light aircraft market in 2018
Based on end use, the civil & commercial end use segment is estimated to account for the largest share of the ultralight and light aircraft market in 2018. In recent years, the demand for recreational flights, medical applications, and business transport are witnessing growth in developed as well as emerging countries. This is leading to the increasing number of aircraft deliveries for civil & commercial applications in the ultralight and light aircraft market.
North America is estimated to account for the largest share of the ultralight and light aircraft market in 2018.
In recent years, the focus of the US government on enhancing infrastructural facilities and rise in funds raised by technology companies for urban mobility projects, such as passenger drones and E-VTOL are leading to the increasing demand for ultralight and light aircraft in the region.
Break-up of profiles of primary participants in the ultralight and light aircraft market
- By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40%
- By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, Rest of the World 5%
Key players in the ultralight and light aircraft market are Aeropro (Slovakia), American Legend Aircraft (US), Autogyro (Germany), Cirrus Aircraft (US) Costruzioni Aeronautiche TECNAM (Italy), Evektor-Aerotechnik (Czech Republic), Flight Design General Aviation (German), P&M Aviation (UK), Pilatus (Switzerland), Piper Aircraft (US), Pipistrel (Slovenia), Quicksilver Aircraft (US), Textron (US), and Vulcan Air (Italy), among others. These companies provide ultralight and light aircraft in various countries across North America, Europe, Asia Pacific, and Rest of the World.
- The market study covers the ultralight and light aircraft market across segments. It aims at estimating the market size and growth potential of this market across various segments, such as aircraft type, end use, flight operations, technology, material, propulsion, and region.
- The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Reasons To buy this report:
- The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall ultralight and light aircraft market and its subsegments.
- This report covers the entire ecosystem of the ultralight and light aircraft, and disruptive technologies, such as passenger drones, hybrid electric propulsion, and Unmanned Aerial Vehicles (UAVs).
- This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
- The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.