The light aircraft type segment is estimated to dominate the ultralight and light aircraft market share through 2026 and generate revenue share of over 95% over the study period. This domination is due to the integration of many advanced avionics as well as enhanced passenger comfort offered by these aircraft.
Growing demand for sport aircrafts along with advancements in technology pertaining to avionics are major factors driving the growth of market. There has been an upsurge in demand for lightweight aircrafts for pilot training activities. This factor coupled with increasing recreational flying activities are further facilitating the market expansion. As per credible estimates, the ultra and light aircraft industry is expected to cross a valuation of USD 9.4 billion by 2026.
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Apart from their technological advancements, growing usage of light aircraft by people for personal aviation activities coupled with the increasing High Net Worth Individuals (HNWI) demographic across the world is likely to further propel the market outlook through 2026.
Growing usage of lightweight helicopters across air medical, search and rescue operations might further increase their deployment in the market.
With reference to the application segment, civil and commercial applications dominate the ultralight and light aircraft market share with over 80% of the overall revenue share in the ultralight and light aircraft industry due to the increased demand for small-sized business jets globally.
Small business jets are witnessing an upsurge in the civil and commercial sector owing to their lower ownership cost, better reliability, as well as ease in their maintenance. In addition, growing air charter facilities for inter and intracity travel in several nations including China and Japan would offer lucrative development opportunities for segment growth.
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Considering the geographical landscape, Europe ultralight and light aircraft market is expected to record a growth rate of 7.3% during the forecast period. Increasing testing and development of various UAM (urban air mobility) solutions and surging recreational air sport activities are augmenting the regional demand.
Some of the major players contributing to the growth of ultralight and light aircraft market include Textron Inc., Piper Aircraft, Inc., Pilatus Aircraft Ltd, Pipistrel d.o.o, Cirrus Aircraft, and Costruzioni Aeronautiche TECNAM S.p.A. among others.
Major Key Points from Table of Content:
Chapter 4 Ultralight and Light Aircraft Market, By Aircraft Type
4.1 Market by aircraft type insights
4.2 Light aircraft
4.2.1 Market estimates and forecast, 2016 - 2026, (Units) (USD Million)
4.2.2 Market estimates & forecast, by region, 2016-2026 (Units) (USD Million)
4.3 Ultralight aircraft
4.3.1 Market estimates and forecast, 2016 - 2026, (Units) (USD Million)
4.3.2 Market estimates & forecast, by region, 2016 - 2026 (Units) (USD Million)
Chapter 5 Ultralight and Light Aircraft Market, By Technology
5.1 Market by technology insights
5.2.1 Market estimates and forecast, 2016 - 2026, (Units) (USD Million)
5.2.2 Market estimates and forecast, by region, 2016 - 2026 (Units) (USD Million)
5.3.1 Market estimates and forecast, 2016 - 2026, (Units) (USD Million)
5.3.2 Market estimates and forecast, by region, 2016 - 2026 (Units) (USD Million)
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