Growth in recreational spending among other factors to drive the ultralight aircraft market.
The ultralight aircraft market is estimated to be valued at USD 301.62 million in 2022 and reach USD 389.26 million by 2031, at a CAGR of 5.23% from 2022-2031.
A number of factors including low cost of acquisition, maintenance, and operation; growth in adventure sports and recreational spending; and versatility in pilot training offered by ultralight aircraft are expected to drive the ultralight aircraft market.
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Fixed wing ultralight to lead the global ultralight aircraft market
The market for fixed wing aircraft is projected to hold the largest share in terms of value. In terms of volume, flex wing aircraft is projected to lead the ultralight aircraft market by 2020. On the basis of applications, the recreation segment is expected to be the largest market for ultralight aircraft globally.
The report also includes industry value chain, market size, and Porters’ five forces analysis for the ultralight aircraft market. It provides a general overview of companies, products, services, financial analysis, and key developments of major players in this market. All percentage shares, splits, and breakdowns are determined using secondary sources and have been verified through primary sources. This report also concentrates on various drivers and restraints currently influencing the market, challenges obstructing the market growth, and opportunities promoting the growth of the market.
Following is the break-up of primary interviews conducted for the research study:
By Company Type - Tier 1 – 40%, Tier 2 – 35% and Tier 3 – 25%
By Designation – C level – 76%, Director level – 24%
By Region – North America - 10%, Europe – 50%, APAC – 20%, RoW – 20%
The emerging markets such as China, India, and the U.A.E are expected to provide huge growth opportunities for the ultralight aircraft market, due to the growth in recreational spending in these countries.
Key players involved in the ultralight aircraft market include Costruzioni Aeronautiche Tecnam S.R.L. (Italy), Cub Crafters, Inc. (U.S.), Flight Design GmbH (Germany), Pipistrel D.O.O. Ajdovščina (Slovenia) and Evektor spol s.r.o. (Czech Republic), American Legend Aircraft Co. (U.S.), Aeropro s.r.o. (Slovakia), Jabiru Aircraft Pty. Ltd. (Australia), Quicksilver Aircraft (U.S.), and P&M Aviation (U.K.).
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Reasons to Buy the Report:
• This report highlights the current trends that are present in the market based on aircraft type, engine type, application, and region.
• This report offers a competitive landscape of key players, by analyzing their performance in the ultralight aircraft market on the basis of various factors such as a company’s revenue and strategic developments among others.
• This report analyzes the opportunities in the market for stakeholders by identifying key market trends.
• This report helps in analyzing the macro and micro indicators for the demand-side analysis of the ultralight aircraft market.