Ultralight And Light Aircraft Market
Ultralight and Light Aircraft Market Forecasts to 2028 - Global Analysis By Aircraft Type (Ultralight Aircraft and Light Aircraft), Propulsion Type (Hybrid, Electric and Fuel), Material, Application and By Geography
Years Covered |
2020-2028 |
Estimated Year Value (2022) |
US $6.2 BN |
Projected Year Value (2028) |
US $10.8 BN |
CAGR (2022 - 2028) |
9.6% |
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
Largest Market |
Asia Pacific |
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Ultralight and Light Aircraft Market is accounted for $6.2 billion in 2022 and is expected to reach $10.8 billion by 2028 growing at a CAGR of 9.6% during the forecast period. Ultralight aircraft have progressed into specifically designed, light-weight, low-power aircraft that perform similarly to traditional light aircraft. Initially, ultralights were just hang gliders that had been powered by the addition of tiny engines resembling those seen in chainsaws. Different country’s aviation authorities have different rules and classifications for slow-flying, light aircraft, which are governed by different legislation. Growth of the ultralight aircraft market is driven by factors such as low cost of acquisition and maintenance.
According to the National Agricultural Aviation Association survey, the agricultural aviation business treats around 127 million acres of cropland aerially.
Market Dynamics:
Driver:
Higher adoption of ultralight UAVs
Unmanned aerial vehicles (UAVs) are frequently utilised by security agencies to attack terrorists and terrorist organisations. Several countries have moved their focus to the adoption of powerful ultralight drones for specific military applications. The increased use of ultralight UAVs in defence forces is a major factor driving market expansion.
Restraint:
High and low-pressure shafts
The engine system needs a power generating system to meet the increased power demand, improve engine control stability. When the extraction power increases, the high pressure shafts frequently reflect a declining surge margin of the low pressure compressor, causing a problem to the overall propulsion is the factor restraining the expansion.
Opportunity:
Rise in commercial applications
The use of ultralight aircraft has been evolving continuously. Along with growing use in travel and leisure, ultralight aircraft are utilised for commercial, military, civil, and commuting purposes. Design innovation and the commercialization of aircraft types in response to shifting consumer demands are the main factors fostering industry expansion.
Threat:
Safety concerns
These aircrafts are small and consist of few parts, enabling aircraft to be lightweight. Its small size and light weight restrict the usage of safety features found in larger aircraft. Concerns regarding passenger safety, as well as restrictions on commercial drone flight, are limiting market expansion.
Covid-19 Impact
The sudden outbreak of COVID-19, imposition of global trade and travel restriction has posed a notable amount of challenges in business operations, majorly in cross border trade. Airport traffic and income have been significantly and immediately impacted by the pandemic. Global passenger travel decreased as a result of the pandemic, ultralight aircrafts are used for tourism and recreational purpose, suffering from major consumer loss.
The light aircraft segment is expected to be the largest during the forecast period
The light aircraft segment is estimated to have a lucrative growth, due to they are utilized for a variety of air taxi services and charter flights. However, an increase in demand for ultralight aircraft in urban air transportation and technological advancements in electrical system and innovations in electric propulsion are boosting the market growth.
The commercial segment is expected to have the highest CAGR during the forecast period
The commercial segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the ability of civil and commercial end users to adopt new technologies. It helps to generate long-term improvements in economic, social, and environmental efficiency are the factors fueling the growth of the segment.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the rapidly expanding tourism industry. In order to expand and modernize its training fleet, a number of pilot training organizations are requesting advanced training aircraft, demonstrating significant growth potential.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the growing popularity of recreational aviation sports and the greater flexibility these aircraft provide compared to passenger aircraft. In addition, there have been large increases in pilot training activities and increased investments in modernizing current aircraft.
Key players in the market
Some of the key players profiled in the Ultralight and Light Aircraft Market include Textron Aviation, Cirrus Aircraft, Diamond Aircraft, Sonex Aircraft, American Legend Aircraft, Phantom Aeronautics, Piper Aircraft, Pipistrel, Flight Design General Aviation, Quicksilver Aircraft, Costruzioni Aeronautiche TECNAM, Autogyro GmbH, Pilatus Aircraft Ltd, Evektor-Aerotechnik, Volocopter GmbH, P&M Aviation, PJSC Beriev Aircraft Company, Viking Air Ltd., Aeropro s.r.o. and Astronics Corporation.
Key Developments:
In July 2022, Cirrus Aircraft joins EAA Air Venture Oshkosh with a display of seven best-selling SR Series and Vision Jet aircraft showcasing a variety of the company’s distinguished models and compelling deliveries.
In November 2021, Textron Aviation Inc. secured a contract worth US$ 143 million from Thailand to supply 8 units of Beechcraft AT-6 Wolverine light-attack aircraft.
Aircraft Types Covered:
• Ultralight Aircraft
• Light Aircraft
Propulsion Types Covered:
• Hybrid
• Electric
• Fuel
Materials Covered:
• Composites
• Aluminum
Applications Covered:
• Military
• Commercial
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Ultralight and Light Aircraft Market, By Aircraft Type
5.1 Introduction
5.2 Ultralight Aircraft
5.3 Light Aircraft
6 Global Ultralight and Light Aircraft Market, By Propulsion Type
6.1 Introduction
6.2 Hybrid
6.3 Electric
6.4 Fuel
7 Global Ultralight and Light Aircraft Market, By Material
7.1 Introduction
7.2 Composites
7.3 Aluminum
8 Global Ultralight and Light Aircraft Market, By Application
8.1 Introduction
8.2 Military
8.3 Commercial
9 Global Ultralight and Light Aircraft Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Textron Aviation
11.2 Cirrus Aircraft
11.3 Diamond Aircraft
11.4 Sonex Aircraft
11.5 American Legend Aircraft
11.6 Phantom Aeronautics
11.7 Piper Aircraft
11.8 Pipistrel
11.9 Flight Design General Aviation
11.10 Quicksilver Aircraft
11.11 Costruzioni Aeronautiche TECNAM
11.12 Autogyro GmbH
11.13 Pilatus Aircraft Ltd
11.14 Evektor-Aerotechnik
11.15 Volocopter GmbH
11.16 P&M Aviation
11.17 PJSC Beriev Aircraft Company
11.18 Viking Air Ltd.
11.19 Aeropro s.r.o.
11.20 Astronics Corporation
List of Tables
1 Global Ultralight and Light Aircraft Market Outlook, By Region (2020-2028) ($MN)
2 Global Ultralight and Light Aircraft Market Outlook, By Aircraft Type (2020-2028) ($MN)
3 Global Ultralight and Light Aircraft Market Outlook, By Ultralight Aircraft (2020-2028) ($MN)
4 Global Ultralight and Light Aircraft Market Outlook, By Light Aircraft (2020-2028) ($MN)
5 Global Ultralight and Light Aircraft Market Outlook, By Propulsion Type (2020-2028) ($MN)
6 Global Ultralight and Light Aircraft Market Outlook, By Hybrid (2020-2028) ($MN)
7 Global Ultralight and Light Aircraft Market Outlook, By Electric (2020-2028) ($MN)
8 Global Ultralight and Light Aircraft Market Outlook, By Fuel (2020-2028) ($MN)
9 Global Ultralight and Light Aircraft Market Outlook, By Material (2020-2028) ($MN)
10 Global Ultralight and Light Aircraft Market Outlook, By Composites (2020-2028) ($MN)
11 Global Ultralight and Light Aircraft Market Outlook, By Aluminum (2020-2028) ($MN)
12 Global Ultralight and Light Aircraft Market Outlook, By Application (2020-2028) ($MN)
13 Global Ultralight and Light Aircraft Market Outlook, By Military (2020-2028) ($MN)
14 Global Ultralight and Light Aircraft Market Outlook, By Commercial (2020-2028) ($MN)
15 North America Ultralight and Light Aircraft Market Outlook, By Country (2020-2028) ($MN)
16 North America Ultralight and Light Aircraft Market Outlook, By Aircraft Type (2020-2028) ($MN)
17 North America Ultralight and Light Aircraft Market Outlook, By Ultralight Aircraft (2020-2028) ($MN)
18 North America Ultralight and Light Aircraft Market Outlook, By Light Aircraft (2020-2028) ($MN)
19 North America Ultralight and Light Aircraft Market Outlook, By Propulsion Type (2020-2028) ($MN)
20 North America Ultralight and Light Aircraft Market Outlook, By Hybrid (2020-2028) ($MN)
21 North America Ultralight and Light Aircraft Market Outlook, By Electric (2020-2028) ($MN)
22 North America Ultralight and Light Aircraft Market Outlook, By Fuel (2020-2028) ($MN)
23 North America Ultralight and Light Aircraft Market Outlook, By Material (2020-2028) ($MN)
24 North America Ultralight and Light Aircraft Market Outlook, By Composites (2020-2028) ($MN)
25 North America Ultralight and Light Aircraft Market Outlook, By Aluminum (2020-2028) ($MN)
26 North America Ultralight and Light Aircraft Market Outlook, By Application (2020-2028) ($MN)
27 North America Ultralight and Light Aircraft Market Outlook, By Military (2020-2028) ($MN)
28 North America Ultralight and Light Aircraft Market Outlook, By Commercial (2020-2028) ($MN)
29 Europe Ultralight and Light Aircraft Market Outlook, By Country (2020-2028) ($MN)
30 Europe Ultralight and Light Aircraft Market Outlook, By Aircraft Type (2020-2028) ($MN)
31 Europe Ultralight and Light Aircraft Market Outlook, By Ultralight Aircraft (2020-2028) ($MN)
32 Europe Ultralight and Light Aircraft Market Outlook, By Light Aircraft (2020-2028) ($MN)
33 Europe Ultralight and Light Aircraft Market Outlook, By Propulsion Type (2020-2028) ($MN)
34 Europe Ultralight and Light Aircraft Market Outlook, By Hybrid (2020-2028) ($MN)
35 Europe Ultralight and Light Aircraft Market Outlook, By Electric (2020-2028) ($MN)
36 Europe Ultralight and Light Aircraft Market Outlook, By Fuel (2020-2028) ($MN)
37 Europe Ultralight and Light Aircraft Market Outlook, By Material (2020-2028) ($MN)
38 Europe Ultralight and Light Aircraft Market Outlook, By Composites (2020-2028) ($MN)
39 Europe Ultralight and Light Aircraft Market Outlook, By Aluminum (2020-2028) ($MN)
40 Europe Ultralight and Light Aircraft Market Outlook, By Application (2020-2028) ($MN)
41 Europe Ultralight and Light Aircraft Market Outlook, By Military (2020-2028) ($MN)
42 Europe Ultralight and Light Aircraft Market Outlook, By Commercial (2020-2028) ($MN)
43 Asia Pacific Ultralight and Light Aircraft Market Outlook, By Country (2020-2028) ($MN)
44 Asia Pacific Ultralight and Light Aircraft Market Outlook, By Aircraft Type (2020-2028) ($MN)
45 Asia Pacific Ultralight and Light Aircraft Market Outlook, By Ultralight Aircraft (2020-2028) ($MN)
46 Asia Pacific Ultralight and Light Aircraft Market Outlook, By Light Aircraft (2020-2028) ($MN)
47 Asia Pacific Ultralight and Light Aircraft Market Outlook, By Propulsion Type (2020-2028) ($MN)
48 Asia Pacific Ultralight and Light Aircraft Market Outlook, By Hybrid (2020-2028) ($MN)
49 Asia Pacific Ultralight and Light Aircraft Market Outlook, By Electric (2020-2028) ($MN)
50 Asia Pacific Ultralight and Light Aircraft Market Outlook, By Fuel (2020-2028) ($MN)
51 Asia Pacific Ultralight and Light Aircraft Market Outlook, By Material (2020-2028) ($MN)
52 Asia Pacific Ultralight and Light Aircraft Market Outlook, By Composites (2020-2028) ($MN)
53 Asia Pacific Ultralight and Light Aircraft Market Outlook, By Aluminum (2020-2028) ($MN)
54 Asia Pacific Ultralight and Light Aircraft Market Outlook, By Application (2020-2028) ($MN)
55 Asia Pacific Ultralight and Light Aircraft Market Outlook, By Military (2020-2028) ($MN)
56 Asia Pacific Ultralight and Light Aircraft Market Outlook, By Commercial (2020-2028) ($MN)
57 South America Ultralight and Light Aircraft Market Outlook, By Country (2020-2028) ($MN)
58 South America Ultralight and Light Aircraft Market Outlook, By Aircraft Type (2020-2028) ($MN)
59 South America Ultralight and Light Aircraft Market Outlook, By Ultralight Aircraft (2020-2028) ($MN)
60 South America Ultralight and Light Aircraft Market Outlook, By Light Aircraft (2020-2028) ($MN)
61 South America Ultralight and Light Aircraft Market Outlook, By Propulsion Type (2020-2028) ($MN)
62 South America Ultralight and Light Aircraft Market Outlook, By Hybrid (2020-2028) ($MN)
63 South America Ultralight and Light Aircraft Market Outlook, By Electric (2020-2028) ($MN)
64 South America Ultralight and Light Aircraft Market Outlook, By Fuel (2020-2028) ($MN)
65 South America Ultralight and Light Aircraft Market Outlook, By Material (2020-2028) ($MN)
66 South America Ultralight and Light Aircraft Market Outlook, By Composites (2020-2028) ($MN)
67 South America Ultralight and Light Aircraft Market Outlook, By Aluminum (2020-2028) ($MN)
68 South America Ultralight and Light Aircraft Market Outlook, By Application (2020-2028) ($MN)
69 South America Ultralight and Light Aircraft Market Outlook, By Military (2020-2028) ($MN)
70 South America Ultralight and Light Aircraft Market Outlook, By Commercial (2020-2028) ($MN)
71 Middle East & Africa Ultralight and Light Aircraft Market Outlook, By Country (2020-2028) ($MN)
72 Middle East & Africa Ultralight and Light Aircraft Market Outlook, By Aircraft Type (2020-2028) ($MN)
73 Middle East & Africa Ultralight and Light Aircraft Market Outlook, By Ultralight Aircraft (2020-2028) ($MN)
74 Middle East & Africa Ultralight and Light Aircraft Market Outlook, By Light Aircraft (2020-2028) ($MN)
75 Middle East & Africa Ultralight and Light Aircraft Market Outlook, By Propulsion Type (2020-2028) ($MN)
76 Middle East & Africa Ultralight and Light Aircraft Market Outlook, By Hybrid (2020-2028) ($MN)
77 Middle East & Africa Ultralight and Light Aircraft Market Outlook, By Electric (2020-2028) ($MN)
78 Middle East & Africa Ultralight and Light Aircraft Market Outlook, By Fuel (2020-2028) ($MN)
79 Middle East & Africa Ultralight and Light Aircraft Market Outlook, By Material (2020-2028) ($MN)
80 Middle East & Africa Ultralight and Light Aircraft Market Outlook, By Composites (2020-2028) ($MN)
81 Middle East & Africa Ultralight and Light Aircraft Market Outlook, By Aluminum (2020-2028) ($MN)
82 Middle East & Africa Ultralight and Light Aircraft Market Outlook, By Application (2020-2028) ($MN)
83 Middle East & Africa Ultralight and Light Aircraft Market Outlook, By Military (2020-2028) ($MN)
84 Middle East & Africa Ultralight and Light Aircraft Market Outlook, By Commercial (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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