The piston engine aircraft market is anticipated to register a CAGR of above 0.5% during the forecast period.
- The market is mainly driven by the advantage of fuel efficiency of the engine with high compression ratio, high heat, and low fuel consumptions.
- The increase in training aircraft procurement is driving the growth of the piston engine aircraft market.
- Despite their simplicity, reliability, and easy maintenance, the short life cycle of the engines is one of the significant reason hindering the growth of the market.
Key Market Trends
Single Engine Segment Dominates in terms of Market Share in 2019
The single engine segment currently dominates the market and is expected to continue its domination in terms of market share over the forecast period. This is due to the increase in the procurement of single engine piston aircraft for training purposes, agricultural applications like the aerial application of pesticides or fertilizers and hydro-seeding, and commercial and military applications.
Asia-Pacific region is Anticipated to Experience the Highest Growth During the Forecast Period
The Asia-Pacific region is anticipated to register the highest growth rate during the forecast period. This growth is due to the increase in aircraft procurements to cater to the growing passenger traffic in this region from countries like China, India, Indonesia, Vietnam, and Australia, among others.
The prominent players in the piston engine aircraft market are Cirrus Aircraft, Diamond Aircraft, Piper Aircraft Inc., TECNAM Aircraft, and Textron Inc. Cirrus Aircraft, Textron Inc., and TECNAM Aircraft delivered the highest number of piston engine aircraft in 2018. In order to gain a competitive edge the market players are investing heavily in their R&D activities and are launching cost-effective piston engines.
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