The ultralight and light aircraft market is projected to grow from USD 7.5 billion in 2022 to USD 11.9 billion by 2030, at a CAGR of 5.9% from 2022 to 2030. The market is driven by the commercialization of passenger drones. However, the market’s growth is limited by the regulations on use of unamnend aircraftsto foresee the market growth.
The COVID-19 outbreak has had an impact on the ultralight and light aircraft supply chain. The spread of COVID-19 in the United States and Europe is expected to be slowed by lockdowns at ultralight and light aircraft vehicle research and development centres.As a result of the Asia Pacific lockdown, many businesses in the ultralight and light aircraft industry have lost revenue. Many startups have failed to continue operating in the area due to delays in development and a lack of funds. The commercialization of ultralight and light aircraft appears to have been delayed by a year when compared with pre conditions.
The aluminum segment is expected to hold major share of the market during the forecast periodon the basis ofmaterial
The ultralight and light aircraft market has been segmented on the basis of material into aluminum, composites, and others (steel and titanium alloys). These materials are used in the construction of airframes and other aircraft components. The aluminum segment accounted for a major share of 50% of the market in 2022, while the composites segment accounted for a market share of 43% of the market in the same year. The composites segment is projected to grow at a CAGR of 7.36% during the forecast period.
The conventional fuel segment is anticipated to lead the ultralight and light aircraft market in near future
Based on propulsion, the ultralight and light aircraft market has been segmented into electric/hybrid and conventional fuel. The conventional fuel segment is projected to grow at a CAGR of 7.2% during the forecast period. The electric/hybrid segment refers to ultralight and light aircraft that are powered by full or partial electric engines. The conventional fuel segment includes widely used fuel-powered engines for propelling an aircraft.
Unmanned segment is anticipated to grow at highest CAGR in the ultralight and light aircraft market during forecast period
The ultralight and light aircraft market has been segmented on the basis of technology into the manned and unmanned segments. The unmanned segment is projected to grow at a CAGR of 8.6% during the forecast period.
Asia Pacific is anticipated to grow at highest CAGR in the ultralight and light aircraft market during forecast period
Asia Pacific is estimated to grow at 6.6%. The market in Asia Pacific is projected to grow from USD 1,570 million in 2022 to USD 2,627 million by 2030, at a CAGR of 6.6% from 2022 to 2030.
Break-up of profiles of primary participants in this report:
- By Company Type: Tier 1 – 35%, Tier 2 – 45% and Tier 3 – 20%
- By Designation: C level – 35%, Director level – 25%, Others – 40%
- By Region: North America - 45%, Europe – 25%, AsiaPacific – 15%, Middle East– 10%,Rest of the World – 5%
Some of the key players profiled in the ultralight and light aircraft market report include Textron (US), Pilatus (Switzerland), Piper Aircraft (US), CostruzioniAeronautiche TECNAM (Italy), and Cirrus (US). Apart from new product launches & developments, these players also adopted the partnerships contracts, & agreements strategy.
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the ultralight and light aircraftmarket. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; contracts, joint ventures, partnerships & agreements, acquisitions, and new product launches associated with the ground support equipment market. Competitive analysis of upcoming startups in the ground support equipment market ecosystem is covered in this report.
Reasons To buy this report:
From an insight perspective, this research report has focused on various levels of analyses?industry analysis (industry trends), market ranking analysis of top players, value chain analysis, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the ultralight and light aircraft market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on ultralight and light aircraftsoffered by top market players
- Market Sizing: The estimated size of the market in 2022 and its projection to 2030
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the ultralight and light aircraft market
- Market Overview: Market dynamics and subsequent analysis of associated trends as well as drivers, opportunities, and challenges prevailing in the ultralight and light aircraft market
- Market Development: Comprehensive information about lucrative markets – the report analyzes the markets for ultralight and light aircraftacross regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the ultralight and light aircraft market
- Regional Analysis: Factors influencing the growth of the ultralight and light aircraft marketin North America, Europe, Asia Pacific,Rest of the World.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the ultralight and light aircraft market.