ResearchAndMarkets.com Expects Expansion From $7.1 Billion In 2018 To $13.9 Billion By 2030

The ultralight and light aircraft market size is expected to grow from $7.1 billion in 2018 to $13.9 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 5.80% during the forecast period, according to a new report from ResearchAndMarkets.com.

Ultralight aircraft have a Maximum Take-off Weight (MTOW) ranging from 200 kg to 600 kg (440 - 1,322 pounds) while light aircraft have a MTOW ranging from 601 kg to 5,700 kg (1,325 - 12,500 pounds). The MTOW is defined as the maximum weight at which the aircraft can take-off; it is the maximum take-off limit defined by the manufacturer considering the safety of the aircraft. Light sports aircraft, turboprop aircraft, light business jets, helicopters, gyrocopters, and Unmanned Aerial Vehicles (UAVs) are covered under ultralight aircraft and light aircraft.

In the recent years, air travel has become increasingly affordable to people, especially in emerging economies such as China, India, and Brazil, due to the rise in the disposable income of people, and the availability of low-cost air travel. The demand for ultralight and light aircraft has increased with the rise in air travel. The ultralight and light aircraft market is projected to grow at a CAGR of 5.80% between 2018 and 2030.

The ultralight and light aircraft market is growing at a significant rate that is expected to continue during the forecast period. Some of the major factors driving the market include a low cost of acquisition, maintenance, and operation, and increasing use of UAVs in military operations. However, fluctuations in the pattern of aircraft deliveries hindering the growth of the ultralight and light aircraft market.

Aeropro (Slovakia), American Legend Aircraft (US), Autogyro (Germany), Cirrus Aircraft (US) Costruzioni Aeronautiche TECNAM (Italy), Evektor-Aerotechnik (Czech Republic), Flight Design General Aviation (German), P&M Aviation (UK), Pilatus (Switzerland), Piper Aircraft (US), Pipistrel (Slovenia), Quicksilver Aircraft (US), Textron (US), and Vulcan Air (Italy) are some of the leading players profiled in the ultralight and light aircraft market report. This report also provides financial analysis, products, services, and key developments undertaken by these players.

(Source: ResearchAndMarkets.com news release. Image from file)

FMI: www.researchandmarkets.com/r/1ik1mh