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Global Ultralight and Light Aircraft Market to Grow at a CAGR of 4.50% During 2022-2027, Aided by the Growing Expansion of Air Force in the Military and Defence Sector

According to a new report by EMR titled, ‘Global Ultralight and Light Aircraft Market Report and Forecast 2022-2027’, the global market stood at a value of around USD 7.63 billion in 2021. The market is expected to grow at a CAGR of 4.50% in the forecast period of 2022-2027 to attain USD 9.93 billion by 2027.

The ultralight and light aircraft market is driven by the growing expansion of air force in the military and defence industry owing to the rising risk of foreign intrusion and growing terrorism. Light and ultralight aircrafts are capable of carrying out precision strikes on the terror launch pads with high accuracy. Additionally, these aircrafts are low in cost and are provide safety to the pilot and passengers. The market is anticipated to be aided by the rising application of these aircrafts in wildlife survey and research activities. Furthermore, the low maintenance of the aircrafts is likely to be an aiding factor in the market.

North America is likely to account for a significant share in the market and is anticipated to witness a considerable growth in the forecast period. The market in the region is driven by the factors such as rising number of skilled pilots, increasing pilot training activities, growing investments towards the manufacturing of high-end light, and ultralight aircrafts. In addition to this, the thriving military and defence sector in the United States of America and Canada is likely to boost the demand for these aircrafts.

In January 2020, Textron Inc. (NYSE: TXT) announced the acquisition of Premiair Aviation Maintenance Pty ltd, which is known to be an Australian maintenance, repair, and overhaul (MRO) service provider. The acquisition is aimed towards augmenting the service offering of the company in the Asia Pacific region.

Market Breakup by Aircraft Type, End Use, Flight Operation, Propulsion, and Region:

  • The market is segmented on the basis of aircraft type into light aircraft and ultralight aircraft.
  • The major end-uses considered in the market include civil and commercial and military.
  • By flight operation, the market is divided into vertical take-off and landing (VTOL) and conventional take-off and landing (CTOL).
  • On the basis of propulsion, the market has been segmented into electric/hybrid and conventional fuel.
  • Region-wise, the global market for ultralight and light aircraft can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for ultralight and light aircraft is being driven by the rising application of these aircrafts in the military and civil and commercial sector.
  • The inclination towards air support in the agriculture industry is likely to provide impetus to the market.
  • The market is anticipated to be aided by the growing efforts aimed towards hampering the terrorist activities, bolstering search and rescue operations, and increasing the capability of air force in the emerging economies of the world.
  • The market will further be aided by the rising investments towards technological advancements in the aircrafts to augment the comfort of the pilot and passengers and bolstering the safety of the passengers.

Key Offerings of the Report:

  • The EMR report gives an overview of the global ultralight and light aircraft industry for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the aircraft types, end uses, flight operations, propulsion, and regions of ultralight and light aircraft.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global ultralight and light aircraft market include American Legend Aircraft Co., Aeropro s.r.o., AutoGyro GmbH, Textron Aviation Inc., PIPISTREL d.o.o., Evektor, spol. s r. o., and Pilatus Aircraft Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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