The general aviation aircraft market in the US has been experiencing a consistent decline over the past decade. As of 2023, the market stood at 194.33 thousand units. The year-on-year variation from 2022 to 2023 was a decrease of 0.5%, continuing the trend seen over the previous years. The Compound Annual Growth Rate (CAGR) from 2018 to 2023 is -0.51%, reflecting a steady reduction in market size.
Looking at the forecasted data from 2024 onwards, this downward trend is expected to persist, with a forecasted CAGR of -0.42% over the next five years, resulting in an overall growth rate decline of -2.07% by 2028. Future trends to watch for include advancements in aircraft technology, changes in regulatory environments, and shifts in demand driven by economic conditions which could affect the pace and direction of this decline.
