Explore Lucrative Business Opportunities In Ultralight and Light Aircraft Market 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. Increasing demand for ultralight aircraft for air taxi, recreational flights, and medical applications in the Asia Pacific and Europe is one of the major factors driving this market.

The ultralight and light aircraft market is expected to witness substantial growth during the forecast period, due to the increase in demand for urban air mobility, rapid commercialization of passenger drones, and demand for recreational flights.

By aircraft type, the ultralight aircraft segment is expected to grow at the higher CAGR during the forecast period. The demand for ultralight aircraft type is higher from commercial and civil applications. Adaptability of the latest technology by civil & commercial end users is expected to drive the growth ultralight aircraft market during the forecast period. Whereas, on the basis of end use segment, the market is divided into civil & commercial and military, which has been further segmented for different applications. Rise in the demand for the personal air mobility by civil aircraft owners is expected to drive the demand for the civil & commercial end use segment during the forecast period.

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Based on technology, the ultralight and light aircraft market is segmented in to unmanned and manned. The unmanned technology segment is expected to grow at the highest CAGR during the forecast period. Rise in demand for unmanned aircraft from the military end use segment and rapid commercialization of the passenger drone technology is expected to drive the overall demand in the ultralight and light aircraft market.

Based on region, the ultralight and light aircraft market has been segmented into 5 regions, namely, North America, Europe, Asia Pacific (APAC), Latin America and Middle East & Africa. The Asia Pacific ultralight and light aircraft market is projected to grow at the highest CAGR during the forecast period from 2020 to 2030. The ultralight and light aircraft market in the region is expected to witness significant growth due to demand from emerging economies, specifically countries, such as China, Japan, Australia, and India, for the use of unmanned aerial vehicles for civil & commercial applications.

Middle East & Africa are among the fastest-growing regions for the ultralight and light aircraft market. The growth of the market in Middle East is driven by the increase in air travel in the region. An increase in aircraft orders for light aircrafts across the globe is a major driver for the rise in aircraft deliveries from Middle East. The rise in the deliveries of ultralight and light aircraft from the region is driving the market growth of the entire Latin American ultralight and light aircraft market. In addition, considerable growth in trade and tourism is among the crucial factors anticipated to fuel the regional demand for the ultralight and light aircraft. The growth of the market in Africa is driven by the increase in VVIP and business transport in the region, as well as the growth in the tourism sector. An increase in orders for ultralight and light aircraft from the region is a major driver for the rise in ultralight and light aircraft to Africa.

Major players operating in the ultralight and light aircraft market include Cirrus Aircraft (US) Costruzioni Aeronautiche TECNAM (Italy), Flight Design General Aviation (German), Pilatus (Switzerland), Piper Aircraft (US) and  Textron (US) among others. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, Asia Pacific, Latin America.

Extron (US) is one of the leading manufacturers of ultralight and light aircraft across the globe. Bell Helicopter, a Textron Inc. company, revealed the configuration and full-scale vertical-takeoff-and-landing (VTOL) air taxi vehicle during CES in January 2019. The air taxi, Bell Nexus, is powered by a hybrid-electric propulsion system and features Bell’s signature powered lift concept incorporating 6 tilting ducted fans that are designed for safe and efficient air travel. Whereas, in April 2018, Textron Aviation announced at ABACE 2018 (Asian Business Aviation Conference and Exhibition) receiving orders for 52 Cessna Skyhawk aircraft. Hairuo General Aviation Co., Ltd. ordered 39 aircraft, while Hubei Sky-Blue International Aviation Academy Co., Ltd ordered 13 aircraft.

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