Ultralight and Light Aircraft Market to hit $9.4bn by 2026
Published Date: February 28, 2020 Authors: Kiran Pulidindi, Soumalya Chakraborty
Ultralight and Light Aircraft Market size is estimated to reach USD 9.4 billion by 2026, according to a new research report by Global Market Insights, Inc.
Increasing requirement for reliable and compact aircrafts coupled with proliferating tourism sector will drive the market demand. Growing demand of charter air services and rising business travel will spur the product penetration. Additionally, ongoing product innovation and integration of advanced technologies in ultralight aircrafts to improve safety will further support the industry growth.
Rising recreational flying and growing air taxi infrastructure remain the key growth driver
Rising recreational flying activities are primarily driving the ultralight and light aircraft market growth. Growing infrastructure development for air taxi service in several countries will support the market expansion.
For instance, in February 2019, Fraport AG and Volocopter GmbH announced that both will collaboratively develop ground infrastructure and operational requirement for air taxi services in Germany. Additionally, proliferating agricultural aviation industry and growing usage of ultralight and light aircraft in pilot training services will further escalate the market demand.
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Ultralight aircraft will showcase significant growth of around 7.9% till 2026 owing to rising popularity of recreational flying along with improved flying range of new aircrafts. Incorporation of advanced safety devices couples with enhanced cabin space, comfort, performance, and ease of flight are also contributing towards growing product demand. Additionally, industry players are engaged in development of new aircraft models with reduced noise levels.
Browse key industry insights spread across 219 pages with 261 market data tables & 24 figures & charts from the report, “Ultralight and Light Aircraft Market Size By Aircraft (Ultralight Aircraft, Light Aircraft), By Technology (CTOL, VTOL), By Application (Civil & Commercial, Military), By Propulsion (Electric/Hybrid, Conventional) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Vertical take-off and landing (VTOL) ultralight and light aircrafts accounted for over 580 units in 2019. The ability of such aircrafts to take off and land vertically as well as growing space constraints across the globe are making it ideal for flight operations.
Industry players are expanding their regional reach and establishing new production facilities to enhance their customer reach. For instance, in 5 May 2017, Dynali Helicopter Company entered into the Poland market with the appointment of new distributors.
Military application is gaining significant traction and is expected to surpass USD 1.73 billion valuation by 2026. Rising requirement of microlight aircrafts for training cadets and bird reconnaissance activities for improving the special military aircraft safety will support the ultralight and light aircraft market penetration. In addition, military organizations are planning to purchase light aircrafts for testing and development of operational tactics.
Electric & hybrid propulsion aircrafts will register around 12.7% growth through 2026 impelled by development of new aircrafts together with increasing requirement for lowering carbon emissions from the aviation industry. Electric and hybrid propulsion aircrafts such as Alpha Electro and Panthera are widely popular. Additionally, R&D investments in urban air mobility from several companies such as Uber and Textron Inc. will further propel the industry growth.
Growing recreational flying activities and pilot training requirements are proliferating the product popularity across Asia Pacific
Asia Pacific ultralight and light aircraft market will showcase considerable gains of around 8.5% during the forecast period propelled by rising tourism across the region along with growing recreation flying clubs in several countries such as Australia and New Zealand.
According to the Australian Sport Rotorcraft Association (ASRA), total number of hours flown by gyroplanes increase by around 5% in 2018 as compared to 2017. In addition, growing requirement of ultralight aircraft in pilot training will further support product demand.
Industry participants are focusing towards product launch and expansion of distribution network
Product launch and expansion of distribution network are the key strategies adopted by industry players to enhance their market share. For instance, in October 2017, Flight Design general aviation GmbH expanded their presence in Germany and Poland with new distributor, Zeta-Aviation GmbH. This strategy enabled the company to enhance their presence in Europe.
Some of the industry participants involved in the ultralight and light aircraft market includes Autogyro GmbH, Cirrus Aircraft, Evektor, spol. s r.o., Piper Aircraft, Inc., and Pilatus Aircraft Ltd.
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