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Ultralight Aircraft Market Forecast To Be Worth $389.26 Million By 2020

Looked At Fixed And Rotary Wing Aircraft, Alternative Fuels

A new report forecasts that the worldwide ultralight aircraft market is expected to reach $389.26 million by 2020, at a compound annual growth rate (CAGR) of 5.23% from 2015 to 2020.

According to the report from ASDReports, factors such as rise in sports and recreational spending, versatility in pilot training, and low cost of acquisition, maintenance and operation among others are factors driving the growth of the ultralight aircraft market. The factors such as economic slowdown and safety concerns are restricting the market growth.

The report analyzes and studies major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.

The ultralight aircraft market is classified into three major segments, namely, aircraft type, engine type, application, and region:

  • On the basis of aircraft type, this market is segmented into fixed wing, flex wing and rotary wing.
  • The engine type segment is further classified into fuel-powered and electric.
  • The market on the basis of application market is segmented into recreation, commercial, and defense.

The fixed wing segment of the ultralight aircraft market, in terms of value, is estimated to account for the largest share of 80.45% in 2015, followed by the flex wing segment that holds an estimated share of 16.09% in the same year. In terms of volume, the flex wing segment leads the ultralight aircraft market, registering a share of 56.63% in 2015, followed by the fixed wing segment with a share of 41.82% in the same year.

As of 2015, Europe is estimated to hold the largest share of the ultralight aircraft market, followed by North America. The Middle East ultralight aircraft market is expected to grow at the highest CAGR of 7.93% between 2015 and 2020.

The report found that the ultralight aircraft market is dominated by key players such as Costruzioni Aeronautiche Tecnam S.R.L. (Italy), Cub Crafters, Inc. (U.S.), Flight Design GmbH (Germany), Pipistrel D.O.O. Ajdovšèina (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.).

The report also draws the competitive landscape of the ultralight aircraft market, providing an in-depth comparative analysis of the technological and marketing strategies adopted by key players thriving in this market. The key strategies adopted by major companies in the ultralight aircraft market are new product launches, providing customized solutions, and mergers & acquisitions.

(Source: ASDReports news release. Images from file)

FMI: Report

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