Ultralight and Light Aircraft Market Size 2022, share, Industry Growing Rapidly with Recent Demand, Trends, Development, Revenue and Forecast to 2030
The Ultralight and Light Aircraft market was valued at US$ 7.19 billion mark in 2021 and is expected to hit US$ 11.93 billion by 2030, recording a CAGR of 6.0% during the forecast period.
The commercial segment is expected to pace up the adoption of ultralight and light aircraft worldwide. For instance, the demand for air sports and recreational applications is another major factor supporting the growth of ultralight and light aircraft market globally. The rising number of recreational aircraft owners globally is supporting the ultralight and light aircraft market growth owing to the rising purchasing power of customers and increase in number of pilot registrations across the world. The rising awareness for air sports across different countries is another major factor supporting higher procurement of ultralight and light aircraft. The Report Ultralight and Light Aircraft Market study by “Business Market Insights” provides details about the market dynamics affecting the market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favorable competitive landscape and trends prevailing over the years.
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- Diamond Aircraft
- Piper Aircraft
- Textron Aviation
- PJSC Beriev Aircraft Company
- Viking Air Ltd.
- Quicksilver Aircraft
- Sonex Aircraft
- Phantom Aeronautics
In this report, the market has been segmented on the basis of:
- Light Aircraft
- Propulsion Type:
- North America
- Asia Pacific (APAC)
- Middle East & Africa
- South America
- North America
Higher Procurement by Armed Forces and Recreational Applications is Another Major Factor Accelerating the Market Growth.
The rising military expenditure worldwide is one of the major factors supporting the growth in the adoption of ultralight and light aircraft for military applications. Many countries have been investing heavily in the procurement of advanced and upgraded technologies to strengthen their military forces across different regions. For instance, in 2018, Indian Ministry of Defense awarded a contract to a Solvenian firm for the procurement of 194 units of micro-light aircraft that are currently in use by Indian Army, Indian Navy, and Indian Airforce. The company completed its aircraft delivery in the 1st quarter of 2020 which was expected to be completed by the end of 2019 as per the contract. Further, in February 2021, the Government of India (Ministry of Defense) awarded a contract for 83 units of Light Combat Aircraft (LCA) Tejas to Hindustan Aeronautics Limited (HAL).
Recent Strategic Developments in Ultralight And Light Aircraft Market
The ultralight and light aircraft market has undergone several significant developments, and a few of these have been mentioned below:
- 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.
- In July 2021, Poland awarded a contract worth US$ 3 billion to Israel Aerospace Industries for the procurement of 48 units of FA-50 light attack aircraft models.
- In March 2021, the US Air Force awarded a contract to Electra and MIT for its eSTOL aircraft’s flight control development.
The report segments the Ultralight and Light Aircraft Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the Ultralight and Light Aircraft Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.
The report provides the current market size for Ultralight and Light Aircraft, defines trends and presents growth forecasts for nine years from 2021 to 2030. 2020 is considered as the base year, and 2021 to 2030 is forecast year for the entire report. All the market numbers for revenue are provided in US dollars. The market is analyzed by the supply side, considering the market penetration of Ultralight and Light Aircraft Market for all the regions globally.
The scope of the Ultralight and Light Aircraft Market Report:
The research report focuses on the current market trends, opportunities, future potential of the market, and competition in the Ultralight and Light Aircraft. The study also provides market insights and analysis of the Ultralight and Light Aircraft, highlighting the technological market trends, adoption rate, industry dynamics, and competitive analysis of major players in the industry.
The global Ultralight and Light Aircraft Market is segmented based on deployment, component, solution, application, and geography. The segmentation in this research study has been finalized post in-depth secondary research and extensive primary research. In addition, the market is also segmented on the basis of products offered by the leading participants in the industry in order to understand widely used market specific terminologies. Thus, we have incorporated the segments of the research and have finalized the market segmentation.
Major highlights of the report:
All-inclusive evaluation of the parent market
Evolution of significant market aspects
Industry-wide investigation of market segments
Assessment of market value and volume in past, present, and forecast years
Evaluation of market share
Tactical approaches of market leaders
Lucrative strategies to help companies strengthen their position in the market
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Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Ultralight and Light Aircraft Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2030, factoring the impact of Covid -19 Situation.
Reason to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Ultralight and Light Aircraft Market.
Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
The key findings and recommendations highlight crucial progressive industry trends in the Ultralight and Light Aircraft Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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