Ultralight and Light Aircraft Market:
Growth opportunities in the ultralight and light aircraft market look promising over the next six years. This is mainly due to the growing demand for ultralight and light aircraft for leisure and recreational activities and new development and designs in the aviation industry for achieving the desired outcomes.
Ultralight and Light Aircraft Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
One of the prominent drivers accelerating the growth of the global ultralight and light aircraft market includes the latest designs and developments in the aviation industry to achieve the desired results. For example, a U.K. based aviation cartel, Neva Aerospace, has disclosed its commercial concept to be a prototype for future personal manned aerial transportation called the AirQuadOne mechanized by a battery pack accordant to electric car recharging stations through battery pack switch, direct wire connection, or induction, which stimulates the market growth. Additionally, the fuelling demand for ultralight and light aircraft for pleasure and recreational activities will further contribute to the market growth. For instance, Lift Aircraft, a start-up that emphasizes promoting ultralight aircraft which a layperson can operate efficiently. This organization is incorporated in selling electrically powered light aircraft that tourists can easily operate for short rides for fun, thereby supporting the ultralight and light aircraft market size.
Furthermore, the increasing electrification of these aircraft will further raise the aviation industry. Significant companies like LILIUM GMBH are planning to organize a setup for electric aircraft taxis and have raised around US$ 240 million funds for the same, which may propel the market share. However, the safety of passenger and pilots may curb the market growth.
Type Segment Drivers
On the basis of type, the ultralight aircrafts are predicted to witness a higher CAGR over the forecast period due to the civil and commercial applications proposed by it. They are primarily designed with less weight and moderate power, mainly for pleasure flying. However, modern models are now used for police patrol, training, and other work, including a proposed use in combat.
Regional Drivers
Based on the regional coverage, North America is projected to lead the market over the forecast period. This is due to the expansion in sport and recreational activities integrated with enhanced flexibility provided by these aircraft than traditional aircraft. Moreover, many pilot training organizations require advanced training aircraft for the development and modernization of their training fleet, thus bringing substantial growth opportunities. For example, L3 Commercial Aviation placed 240 piper aircraft to remodel their training fleet in April 2019, which has driven the market growth.
Ultralight and Light Aircraft Market’s leading Manufacturers:
- XTI AIRCRAFT
- Wing Aviation LLC.
- PIPER AIRCRAFT, INC.
- Opener
- LILIUM GMBH
- Karem Aircraft, Inc.
- Aston Martin
- KITTY HAWK
- NEVA Aerospace
- Volocopter GmbH
Ultralight and Light Aircraft Market Segmentation:
Segmentation by Type:
- Ultralight
- Light
Segmentation by Engine Type:
- Fuel Engine
- Electric Engine
Segmentation by Application:
- Recreation
- Commercial
- Defense
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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