Ultralight and Light Aircraft Market by Type (Ultralight and Light Aircraft), Application (Commercial and Military), Propulsion Type (Fuel, Electric, and Hybrid): Global Market Size Estimates and Forecast (2019–2030)

Code: BMIRE00025808 | Pages: 100 | Industry: Aerospace and Defense | Date: Sep 2022 | Type: Global

The market was valued at US$ 7.19 billion mark in 2021 and is expected to hit US$ 11.93 billion by 2030, recording a CAGR of 6.0% during the forecast period.

The Growing Light and Ultralight Aircraft Registrations has been Significantly Boosting the Market Growth.

The rise in number of registrations of ultralight and light aircraft is one of the major factors propelling the market growth. For instance, in 2019 there were around 3,739 light and ultralight aircraft registered in the US alone which further reached to a volume of around 4,156 units of aircraft in 2021. These are factory-built aircraft that were being developed on immediate basis. However, the figures for kit-built aircraft around 3,509 units of aircraft were registered in 2019 across the US that further reached to an estimated registration of 4,142 units of aircraft. Such instances are boosting the ultralight and light aircraft market growth.

The commercial segment is expected to pace up the adoption of ultralight and light aircraft worldwide. For instance, the demand for air sports and recreational applications is another major factor supporting the growth of ultralight and light aircraft market globally. The rising number of recreational aircraft owners globally is supporting the ultralight and light aircraft market growth owing to the rising purchasing power of customers and increase in number of pilot registrations across the world. The rising awareness for air sports across different countries is another major factor supporting higher procurement of ultralight and light aircraft. For instance, in June 2022, the Civil Aviation Minister of India predicted that the air sports industry in India generates a revenue of around US$ 8-10 Million annually that is also expected to reach an estimated value of US$ 125 million by the next decade. Such instances are likely to increase the adoption of new light and ultralight sports aircraft models across the country and drive the ultralight and light aircraft market growth during the forecast period.

Within the report, the market is segmented into type, application, propulsion type, and geography. By type, the market is further bifurcated into ultralight and light aircraft. On the basis of application, the market is segmented into commercial and military. By propulsion type, the market is segmented into fuel, electric, and hybrid. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

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Unmanned Aerial Vehicles (UAVs) is a Far-Reaching Technology that Empowered the Growth of Futuristic Innovations.

The higher adoption of ultralight UAVs across the defense forces is another major factor propelling the growth of ultralight and light aircraft market specifically for military applications. Several countries have shifted their focus for the adoption of powerful ultralight drones for specific military applications. For instance, in January 2022, Indian Army awarded a contract to ideaForge for the procurement of High-Altitude ultralight SWITCH Unmanned Aerial Vehicles (UAV) that has an overall weight of less than 7 kgs and have a range of 15 kms. The rising cross border tensions across different countries such as India-China, India-Pakistan, Russia-Ukraine, Germany-Russia, and China-Taiwan is pushing the armed forces to procure the ultralight and light UAVs in large quantities for their respective ISR, continuous monitoring, and combat support operations. Such instances are propelling the demand for ultralight and light aircraft market.

Higher Procurement by Armed Forces and Recreational Applications is Another Major Factor Accelerating the Market Growth.

The rising military expenditure worldwide is one of the major factors supporting the growth in the adoption of ultralight and light aircraft for military applications. Many countries have been investing heavily in the procurement of advanced and upgraded technologies to strengthen their military forces across different regions. For instance, in 2018, Indian Ministry of Defense awarded a contract to a Solvenian firm for the procurement of 194 units of micro-light aircraft that are currently in use by Indian Army, Indian Navy, and Indian Airforce. The company completed its aircraft delivery in the 1st quarter of 2020 which was expected to be completed by the end of 2019 as per the contract.  Further, in February 2021, the Government of India (Ministry of Defense) awarded a contract for 83 units of Light Combat Aircraft (LCA) Tejas to Hindustan Aeronautics Limited (HAL).

Recent Strategic Developments in Ultralight And Light Aircraft Market

The ultralight and light aircraft market has undergone several significant developments, and a few of these have been mentioned below:

  • In November 2021, Textron Aviation Inc. secured a contract worth US$ 143 million from Thailand to supply 8 units of Beechcraft AT-6 Wolverine light-attack aircraft.
  • In July 2022, Poland awarded a contract worth US$ 3 billion to Israel Aerospace Industries for the procurement of 48 units of FA-50 light attack aircraft models.
  • In March 2022, the US Air Force awarded a contract to Electra and MIT for its eSTOL aircraft’s flight control development.

The ultralight and light aircraft market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Cirrus, Diamond Aircraft, Piper Aircraft, Textron Aviation, PJSC Beriev Aircraft Company, Viking Air Ltd., Pipistrel, Quicksilver Aircraft, Sonex Aircraft, and Phantom Aeronautics are among the prominent players operating in the market.

Target audience for the report:

  • Component providers
  • Ultralight aircraft manufacturers
  • Light aircraft manufacturers
  • Component manufacturers
  • Propulsion Systems Manufacturers
  • Engine manufacturers
  • Commercial and Military aviation related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Ultralight
    • Light Aircraft
  • Application
    • Commercial
    • Military
  • Propulsion Type:
    • Fuel
    • Electric
    • Hybrid
  • Region
    • North America
      • US
      • Canada
      • Mexico
    • Europe
    • Asia Pacific (APAC)
    • Middle East & Africa
    • South America
  • Companies profiled
    • Cirrus
    • Diamond Aircraft
    • Piper Aircraft
    • Textron Aviation
    • PJSC Beriev Aircraft Company
    • Viking Air Ltd.
    • Pipistrel
    • Quicksilver Aircraft
    • Sonex Aircraft
    • Phantom Aeronautics
  • Cirrus
  • Diamond Aircraft
  • Piper Aircraft
  • Textron Aviation
  • PJSC Beriev Aircraft Company
  • Viking Air Ltd.
  • Pipistrel
  • Quicksilver Aircraft
  • Sonex Aircraft
  • Phantom Aeronautics
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