Overview and Scope
The ultralight and light aircraft are microlight aircraft or lightweight aircraft with a fixed wing and have a capacity of one to two people, and their speed limit and weight vary according to the requirements of different regions. These aircraft are used for recreational and short-distance flying.
Sizing and Forecast
The ultralight and light aircraft market size has grown strongly in recent years. It will grow from $6.99 billion in 2023 to $7.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to innovation in avionics, growing tourism sector, cost-effectiveness, training and flight schools, advancements in aircraft materials, recreational aviation enthusiasm..
The ultralight and light aircraft market size is expected to see strong growth in the next few years. It will grow to $9.92 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to advanced safety features, increasing urban air mobility (uam), growth in adventure tourism, focus on lightweight materials and construction, increased focus on safety features.. Major trends in the forecast period include advancements in electric and hybrid propulsion, integration of advanced avionics and connectivity, regulatory developments and certification standards, use of unmanned aerial vehicles (uavs) for surveillance and monitoring, market consolidation and strategic partnerships..
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Segmentation & Regional Insights
The ultralight and light aircraft market covered in this report is segmented –
1) By Aircraft: Ultralight Aircraft, Light Aircraft
2) By Technology: CTOL, VTOL
3) By Propulsion: Electric/Hybrid, Conventional
4) By Application: Civil & Commercial, Military
North America was the largest region in the ultralight and light aircraft market in 2023. Europe was the second-largest region in the ultralight and light aircraft market. The regions covered in the ultralight and light aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising usage of UAVs in military operations has significantly contributed to the growth of the ultralight and light aircraft market. In recent years, the global UAV sector has witnessed path-breaking developments in military and civil use and is considered the future of warfare. The ultralight and light aircraft enable easy military operations due to their advantages in weight and capabilities. For instance, according to an Aeromag Asia report, in 2020, seventeen countries have armed UAVs, and more than 100 countries use UAVs in a military capacity that the global UAV market size is expected to reach $ 21.47 billion, with the Indian market touching the $ 885.7 million mark in 2021. Therefore, the rising usage of UAVs in military operations will contribute to the growth of the ultralight and light aircraft market.
Key Industry Players
Major companies operating in the ultralight and light aircraft market report are Textron Inc., Pilatus Aircraft Limited, Piper Aircraft Inc., TECNAM Costruzioni Aeronautiche S.p.A., The Cirrus Design Corporation, Aeropro Ltd., American Legend Aircraft Company, Autogyro GmbH, Evektor spol. s r.o., Flight Design General Aviation GmbH, Jabiru Aircraft Pty Limited, P&M Aviation SV, Cub Crafters Inc., Pipistrel d.o.o Ajdovščina, Quicksilver Aircraft, Vulcan Air S.p.A., Air Creation, Lockwood Aviation Group, Airtime Aircraft Inc., Alpi Aviation Srl, ATEC v.o.s., B&F Technik Vertriebs GmbH, BRM Aero s.r.o., Rainbow SkyReach Ltd., Czech Sport Aircraft a.s., Flightstar Sportplanes, Fly Synthesis Srl, ICP srl, Just Aircraft LLC, Kitfox Aircraft LLC
The ultralight and light aircraft market report table of contents includes:
1. Executive Summary
2. Ultralight And Light Aircraft Market Characteristics
3. Ultralight And Light Aircraft Market Trends And Strategies
4. Ultralight And Light Aircraft Market – Macro Economic Scenario
5. Global Ultralight And Light Aircraft Market Size and Growth
….
31. Ultralight And Light Aircraft Market Other Major And Innovative Companies
32. Global Ultralight And Light Aircraft Market Competitive Benchmarking
33. Global Ultralight And Light Aircraft Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Ultralight And Light Aircraft Market
35. Ultralight And Light Aircraft Market Future Outlook and Potential Analysis
36. Appendix
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