Ultralight And Light Aircraft Market by Development Status and Top Manufacturers Analysis to 2026

As per credible estimates, the ultralight and light aircraft market is expected to cross a valuation of USD 9.4 billion by 2026.

Growing demand for sport aircrafts along with advancements in technology pertaining to avionics are major factors driving the growth of ultralight and light aircraft industry. There has been an upsurge in demand for lightweight aircrafts for pilot training activities. This factor coupled with increasing recreational flying activities are further facilitating the market expansion.

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Europe ultralight and light aircraft market is expected to record a growth rate of 7.3% during the forecast period. Increasing testing and development of various UAM (urban air mobility) solutions and surging recreational air sport activities are augmenting the regional demand.

Adding to this, advancements in aircraft propulsion systems in order improve passenger experience is stimulating the ultralight and light aircraft market outlook. Flourishing tourism industry and increasing utilization of lightweight aircrafts for air taxi services are also positively influencing the market outlook.

Emergence of advanced avionics with features such as improved comfort and easy operations are fostering the demand for ultralight & light aircrafts across the globe. There has been an improvement in infrastructural development and adoption rates of urban air mobility solutions.

Based on aircraft type, light aircraft market segment is expected to hold 95% revenue share by 2026. Light aircrafts offer improved comfort to passengers, this factor together with development of advanced avionics is fueling the segmental growth.

There has been an increase in demand for lightweight helicopters for search & rescue as well as air medical operations. Rising adoption of light aircrafts for personal flying coupled with rising capita per income that is creating more and more High Net Worth Individuals globally are contributing towards popularity of these light aircrafts across the globe.

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Estimates claim that VTOL (vertical take-off & landing) technology segment is presumed to expand with a CAGR of 8.4% through 2020 and 2026. The growth is attributed to induction of helicopters in ultralight category and rapid expansion of distribution network. In July 2017 for instance, Dynali began exporting H3 sport helicopters to their official distributor Hanger 36 in the United States. Furthermore, advancements in technology pertaining to electric VTOL are also favoring the market outlook.

Based on the application spectrum, the civil & commercial applications segment is expected to hold 80% revenue share by the end of the study period. Small business jets offer low ownership cost, reliability and easy maintenance, and increasing demand for small sized business jets is contributing towards the ultralight and light aircraft market growth. In addition, increasing air charter services for inter and intracity travel in countries such as China and Japan are aiding the business scenario.

As per estimates, electric & hybrid propulsion aircrafts market segment is expected to grow with a CAGR of 3.4% through 2026. The growth is attributed to surging investments towards development of electric aircrafts and rising testing activities of new aircrafts for training purposes. For instance, Pipistrel d.o.o. successfully completed the first flight of Alpha Electro aircraft in June 2018.

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The prominent companies operating in the ultralight and light aircraft market are Evektor, spol. s r.o., Textron Inc., Pipistrel d.o.o. Piper Aircraft Inc., Pilatus Aircraft Ltd., Costruzioni Aeronautiche TECNAM S.p.A. and Cirrus Aircraft among others.

These ultralight and light aircraft market majors are focusing on improving their distribution network, developing new production facilities, and launching innovative products in order to gain a competitive advantage in the overall market landscape.

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