Wednesday, 19 August 2020

Ultralight and Light Aircraft Market Global Forecast to 2030

The global ultralight and light aircraft market size is expected to grow from USD 5.5 billion in 2020 to USD 11.6 billion by 2030, at a CAGR of 7.7% during the forecast period.


The market for ultralight and light aircraft is driven by various factors, such as the increasing demand for recreational flights and deliveries of Unmanned Aerial Vehicles (UAVs). The global deliveries of ultralight and light aircraft are increasing, supported by the demand for air taxi and urban air mobility. However, risks associated with passenger safety and restrictions on flying drones commercially are limiting the overall growth of the market.

          

The light aircraft type segment is estimated to account for the largest share of the ultralight and light aircraft market in 2020

Based on aircraft type, the light aircraft segment is estimated to account for the largest share of the ultralight and light aircraft market in 2020. These aircraft are used for various air taxi services and charter flights, which are projected to drive the growth of light aircraft deliveries worldwide. However, a rise in the demand for ultralight aircraft in urban air transport is driving the growth of ultralight aircraft type market.

The civil & commercial end-use segment is estimated to account for the largest share of the ultralight and light aircraft market in 2020

Based on end-use, the civil & commercial end-use segment is estimated to account for the largest share of the ultralight and light aircraft market in 2020. In recent years, the demand for recreational flights, medical applications, and business transport are witnessing growth in developed as well as emerging countries. This is leading to an increasing number of aircraft deliveries for civil & commercial applications in the ultralight and light aircraft market.

North America is estimated to account for the largest share of the ultralight and light aircraft market in 2020

In recent years, the focus of the US government on enhancing infrastructural facilities and rise in funds raised by technology companies for urban mobility projects, such as passenger drones and E-VTOL are leading to the increasing demand for ultralight and light aircraft in the region.


Market Dynamics


Drivers

  • Low Cost of Acquisition, Maintenance, and Operation
  • Increasing Use of UAVs in Military Operations

Restraints

  • Fluctuations in the Pattern of Aircraft Deliveries

Opportunities

  • Advantages of Hybrid-Electric Propulsion Over Traditional Propulsion
  • Technological Developments in the Field of Drone Payloads and Passenger Drones

Challenges

  • Acceptance of UAVs in Urban Areas
  • Pilot and Passenger Safety Concerns
  • Economic Challenges Faced by OEMs Due to COVID-19 Outbreak

Companies Profiled

  • Pipistrel D.O.O Ajdovina
  • Evektor-Aerotechnik
  • American Legend Aircraft Co.
  • P&M Aviation
  • Quicksilver Aircraft
  • Costruzioni Aeronautiche Tecnam S.R.L.
  • Flight Design General Aviation GmbH
  • Textron Inc.
  • Aeropro
  • Autogyro GmbH
  • Pilatus Aircraft
  • Piper Aircraft
  • Vulcan Air
  • Cirrus Aircraft
  • Honda Aircraft Company
  • Startup Company Profiles
  • Volocopter GmbH
  • Lilium GmbH
  • Neva Aerospace
  • Opener
  • Kitty Hawk
  • Joby Aviation
  • Aston Martin
  • Wing
  • Karem Aircraft Inc.
  • Lift
  • Xti Aircraft

For more information about this report visit https://www.researchandmarkets.com/r/vssdau











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