The Ultralight and light aircraft market size is projected to grow from USD 9.3 billion in 2023 to USD 18.4 billion by 2028, at a CAGR of 14.4% from 2023 to 2028. The aircraft is increasingly being used for recreational flying, such as sightseeing, camping, and fishing. They are also used for transportation, such as personal commuting. Ultralight and light aircraft also affordable to maintain and operate.
Low-cost operation and maintenance of ultralight aircraft are driving the ultralight and light aircraft market.
Ultralight aircraft are much smaller and weigh less than commercial aircraft.The Maximum Take-off Weight (MTOW) of an aircraft is used to define ultralight aircraft.
Due to liberal ownership rules in several countries, acquiring an ultralight aircraft is easier.Ultralight and light aircraft are commonly used for sports and recreational purposes in the United States, Canada, and Australia.
Some ultralight aircraft also use automotive-grade petrol, which lowers the aircraft’s operating costs. An ultralight aircraft uses 2-3 gallons of fuel per hour on average, making it economical to operate.
Based on flight operation, the CTOL segment accounts for the largest market size during the forecast period.
Based on flight operation, the ultralight and light aircraft market is segmented into Conventional Take-off and Landing (CTOL) and Vertical Take-off and Landing (VTOL).CTOL aircraft include fixed-wing ultralight and light aircraft.
These aircraft require a runway or an airstrip for operation and usually have turboprop or piston engines.In the case of seaplanes, the runway is water, but the approach is similar to other passenger aircraft.
CTOL aircraft are the most commonly used aircraft, and they follow the approach adopted by any conventional aircraft.Student pilots use ultralight and light aircraft to learn the basics of flying, including take-off and landing.
VTOL aircraft include rotary wing ultralight and light aircraft. These aircraft do not require a runway as their approach involves hovering vertically, then gaining forward thrust to transition into forward flight. These aircraft can access areas without runways and are mainly used for military, medical, and rescue operations. They have also been included in the futuristic air taxi and UAM (Urban Air Mobility) concepts.
Based on the system, the aircraft systems segment is projected to grow at the highest CAGR during the forecast period.
Based on system, the ultralight and light aircraft market is segmented into airframes, avionics, aircraft systems, and cabin interiors. The ultralight and light aircraft market is projected to grow at a CAGR of 14.44% during the forecast period. The increasing demand for aircraft to train pilots, along with the convenience of small aircraft to access remote areas, is the major factor driving the ultralight and light aircraft market. Upcoming technologies such as electric vertical take-off and landing (VTOL) aircraft and UAVs to be used for urban air mobility (UAM) are some of the other factors anticipated to drive the market.
Based on technology , the manned segment accounts for the largest market size during the forecast period.
The ultralight and light aircraft market has been segmented on the basis of technology into the manned and unmanned segments.Various ultralight and light aircraft that require a pilot to perform flight operations in the cockpit are included in this segment.
Most fixed-wing aircraft and helicopters are manned since unmanned aircraft technology has not been fully integrated for commercial air travel.
North America is projected to grow at the highest CAGR during the forecast period.
North America is expected ot lead the ultralight and light aircraft market during the forecast period.North America hosts some of the major aircraft OEMs and are one of the leaders in the usage of light and ultralight aircraft for a multiple recreational and commercial uses.
As a result the ultralight and light market in the region is quite large and is growing fast.
The break-up of profile of primary participants in the ultralight and light aircraft market:
• By Company Type: Tier 1 – 49%, Tier 2 – 37%, and Tier 3 – 14%
• By Designation: C Level – 55%, Director Level – 27%, and Others – 18%
• By Region: North America – 27%, Europe – 55%, Asia Pacific –9%, Rest of the World – 9%
Major players operating in the ultralight and light aircrfat market are Bell Helicopters (US), Air Tractor (US), Pipistrel doo (Slovenia),Textron Inc. (US) , Pilatus Aircraft(Switzerland), Flight Design General Aviation (Germany), Aeropro(Slovakia), Autogyro (Germany).
This research report categorizes the ultralight and light aircraft market basis of By Aircraft Type (Ultralight Aircraft and Light Aircraft) , End Use (Civil and Commercial and Military),Flight Operation (CTOL and VTOL), Technology (Manned and Unmanned), Propulsion (Conventional Fuel and Electric-Hybrid), Material (Aluminium, Composites and Other Materials), System (Airframe, Avionics, Cabin Interiors and Aircraft Systems), Aftermarket (Ultralight aircraft and Light Aircraft) in these segments have been mapped across major Regions (North America, Europe, Asia Pacific, Middle East and Afirca, Latin America).The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the ultralight and light aircraft market.
A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; agreements, collaborations, new product launches, contracts, expansion, acquisitions, and partnerships associated with the aircraft health monitoring market. Competitive analysis of upcoming startups in the ultralight and light aircraft market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall ultralight and light aircraft market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on ultralight and light aircrafts offered by the top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the ultralight and light aircraft market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the aircraft health monitoring market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the aircraft health monitoring market
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players in the ultralight and light aircraft market