DELRAY BEACH, Fla., Nov. 19, 2024 /PRNewswire/ -- The ultralight and light aircraft market is estimated to be USD 10.17 billion in 2024 and is projected to reach USD 17.29 billion by 2029, at a CAGR of 11.2 % during the forecast period according to a new report by MarketsandMarkets. This growth can be attributed to the increasing aircraft demand and advancements in traditional aircrafts.
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Browse in-depth TOC on "Ultralight and Light Aircraft Market"
405 - Tables
59 - Figures
297 - Pages
Ultralight and Light Aircraft Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 10.17 billion |
Estimated Value by 2029 | $ 17.29 billion |
Growth Rate | Poised to grow at a CAGR of 11.2% |
Market Size Available for | 2020-2029 |
Forecast Period | 2024-2029 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Propulsion, System, Technology, Flight Operation, Point of Sale End Use and Material |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Limited range and payload of ultralight aircraft |
Key Market Opportunities | Advancements in passenger drones and UAV payload |
Key Market Drivers | Growing use of UAVs in various military operations |
The unmanned technology segment is projected to grow at the highest CAGR during the forecast period
Based on technology, the ultralight and light aircraft market has been segmented into the manned and unmanned segments. The versatility of unmanned aircraft makes them suitable for applications ranging from recreational flying to agriculture, crop monitoring and spraying, surveillance, search and rescue, inspection of infrastructure, and monitoring of the environment. As the number of industries discover new use cases, demand is expected to rise significantly.
The light aircraft aftermarket segment accounts for the largest market size during the forecast period
Based on aftermarket, the ultralight and light aircraft market is segmented into ultralight aircraft and light aircraft. Light aircraft, in comparison, can carry greater payloads than ultralights and can take on more passengers, cargo, or equipment. This is what makes them crucial for commercial usage and, therefore, increases their utility, making them highly appealing to businesses that have to haul goods or several people.
The civil and commercial end use segment accounts for the largest market size during the forecast period
Based on end use, the ultralight and light aircraft market is segmented into the civil and commercial and military segments. The civil and commercial segment accounted for a largest share, of the ultralight and light aircraft market in 2024. This increase in business aviation is significant since the companies see the value of light aircraft in corporate travel. Executives can easily and promptly access remote destinations with time-saving opportunities, away from delays common with scheduled air transportation, thus gaining a productive advantage. Companies wanting greater operational flexibility and efficiency are bound to continue requesting light aircraft. The demand for light aircrafts for corporate travel drives the Civil 7 Commercial segment.
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"North America is projected to grow at the highest CAGR during the forecast period."
North America is expected to be the lead the ultralight and light aircraft industry during the forecast period. North America is a region with a lot of old companies and new startups manufacturing ultralight and light aircraft. It leads to producer competition, innovative capacity, and variety of models provided to consumers. Engineering knowledge and research institutions strengthen it in producing the most recent aviation technology. North America has many programs that train flights and colleges of aviation, which graduate qualified pilots continuously. With scholarship opportunities and incentives, more people engage in aviation or recreational flying careers, thus expanding the market for light and ultralight aircraft.
Major players operating in the ultralight and light aircraft companies are Bell Helicopters (US), Pilatus Aircraft(Switzerland), Air Tractor (US), Flight Design General Aviation (Germany), ,Textron Inc. (US) , Aeropro(Slovakia), Autogyro (Germany).These key players offer ultralight and light aircrafts across regions, and have well-equipped and strong distribution networks across the North American, European, Asia Pacific, Latin American, Middle East and African regions.
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