The ultralight and light aircraft global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Ultralight And Light Aircraft Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The ultralight and light aircraft market size has grown strongly in recent years. It will grow from $6.99 billion in 2023 to $7.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to innovation in avionics, growing tourism sector, cost-effectiveness, training and flight schools, advancements in aircraft materials, recreational aviation enthusiasm.
The ultralight and light aircraft market size is expected to see strong growth in the next few years. It will grow to $9.92 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to advanced safety features, increasing urban air mobility (uam), growth in adventure tourism, focus on lightweight materials and construction, increased focus on safety features. Major trends in the forecast period include advancements in electric and hybrid propulsion, integration of advanced avionics and connectivity, regulatory developments and certification standards, use of unmanned aerial vehicles (uavs) for surveillance and monitoring, market consolidation and strategic partnerships.
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Scope Of Ultralight And Light Aircraft Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Ultralight And Light Aircraft Market Overview
Market Drivers –
The rising usage of UAVs in military operations has significantly contributed to the growth of the ultralight and light aircraft market. In recent years, the global UAV sector has witnessed path-breaking developments in military and civil use and is considered the future of warfare. The ultralight and light aircraft enable easy military operations due to their advantages in weight and capabilities. For instance, according to an Aeromag Asia report, in 2020, seventeen countries have armed UAVs, and more than 100 countries use UAVs in a military capacity that the global UAV market size is expected to reach $ 21.47 billion, with the Indian market touching the $ 885.7 million mark in 2021. Therefore, the rising usage of UAVs in military operations will contribute to the growth of the ultralight and light aircraft market.
Market Trends –
Technological advancement in lightweight design is a key trend gaining popularity in the ultralight and light aircraft market. Key players operating in the ultralight and light aircraft market are focusing on developing and manufacturing light sport aircraft relying on composite materials and vacuum structures to keep the aircraft lightweight and strong to strengthen their position in the market. For instance, in March 2023, CubCrafters, a US-based aircraft company, introduced Carbon Cub UL which is a type of ultralight aircraft that uses multi-fuel and avionics technology. These technologies will allow the aircrafts to meet ASTM standards, and to carry two adults with a full fuel load and baggage at a max takeoff weight of 1,320 pounds.
The ultralight and light aircraft market covered in this report is segmented –
1) By Aircraft: Ultralight Aircraft, Light Aircraft
2) By Technology: CTOL, VTOL
3) By Propulsion: Electric/Hybrid, Conventional
4) By Application: Civil & Commercial, Military
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Regional Insights –
North America was the largest region in the ultralight and light aircraft market in 2023. Europe was the second-largest region in the ultralight and light aircraft market. The regions covered in the ultralight and light aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the ultralight and light aircraft market report are Textron Inc., Pilatus Aircraft Limited, Piper Aircraft Inc., TECNAM Costruzioni Aeronautiche S.p.A., The Cirrus Design Corporation, Aeropro Ltd., American Legend Aircraft Company, Autogyro GmbH, Evektor spol. s r.o., Flight Design General Aviation GmbH, Jabiru Aircraft Pty Limited, P&M Aviation SV, Cub Crafters Inc., Pipistrel d.o.o Ajdovšcina, Quicksilver Aircraft, Vulcan Air S.p.A., Air Creation, Lockwood Aviation Group, Airtime Aircraft Inc., Alpi Aviation Srl, ATEC v.o.s., B&F Technik Vertriebs GmbH, BRM Aero s.r.o., Rainbow SkyReach Ltd., Czech Sport Aircraft a.s., Flightstar Sportplanes, Fly Synthesis Srl, ICP srl, Just Aircraft LLC, Kitfox Aircraft LLC
1. Executive Summary
2. Ultralight And Light Aircraft Market Report Structure
3. Ultralight And Light Aircraft Market Trends And Strategies
4. Ultralight And Light Aircraft Market – Macro Economic Scenario
5. Ultralight And Light Aircraft Market Size And Growth
…..
27. Ultralight And Light Aircraft Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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