Ultralight Aircraft Market Scope
Growing spending in the use of ultralight aircraft for recreation and sports by amateur pilots will help to boost global ultralight aircraft market in the forecasted time period. The ultralight aircraft is also known as microlight aircraft. Ultralight aircraft is one of the fastest and purest ways to experience the joys of aviation. It is particularly designed basically for recreational purposes, that is, for short-distance flying. The major driving factor of ultralight aircraft market is rising interest in sports involving craft together with aerial acrobatics and heavier-than-air craft sport has greatly placed the main target on the usage of ultralight models of craft round the world. Furthermore, the growing application of ultralight craft publicly and defense operations like intelligence activity flights, search and rescue operations and additional.
According to AMA, the Global Ultralight Aircraft market is expected to see growth rate of 4.9%Ultralight Aircraft is a fragmented market due to the presence of a large number of established competitors. The key players focus on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions to help them sustain themselves in the market and maintain their competitive edge. Research Analyst at AMA estimates that European Manufacturers will contribute to the maximum growth of Global Ultralight Aircraft market throughout the predicted period.
Aeropro (Slovakia), American Legend Aircraft (United States), Autogyro (Germany), Flight Design General Aviation (German), P&M Aviation (United Kingdom), Cirrus Aircraft (United States), Costruzioni Aeronautiche TECNAM (Italy), Pilatus (Switzerland), Piper Aircraft (United States) and Textron (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Vulcan Air (Italy), Pipistrel (Slovenia) and Quicksilver Aircraft (United States).
Segmentation Overview
The study have segmented the market of Global Ultralight Aircraft market by Type (Fixed Wing, Flex Wing and Rotary Wing), by Application (Recreation, Commercial and Defense) and Region with country level break-up.
On the basis of geography, the market of Ultralight Aircraft has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Increasing Use of Ultralight Aircraft in Military Operations and Rise In Number of Short Term Aviation Courses
Market Growth Drivers:
Increasing Demand Due To Improved Performance and Speed Being Offered Lately By Ultralight Aircraft, High Adoption Due To Lower Costs for Purchase, Maintenance, and Operations and Ability to Take Off and Land in Very Small Airstrips
Challenges:
Lack of a Fixed Standard for Flying Ultralight Aircraft
Restraints:
Fluctuations in the Pattern of Aircraft Deliveries and Decreasing Demand in the Aviation Sector and Lack of Skill Pilot
Opportunities:
Rapidly Expanding Tourism Industry in Developing Countries, Technological Developments for Urban Air Mobility and Technological Developments in the Field Of Drone Payloads and Passenger Drones
Market Leaders and their Expansionary Development Strategies
On 7th January 2019, Bell Helicopter, a Textron company (US), revealed the configuration and full-scale Vertical-takeoff-and-landing (VTOL) air taxi vehicle during CES 2019. The air taxi, Bell Nexus, is powered by a hybrid-electric propulsion system and features Bell’s signature powered lift concept incorporating six tilting ducted fans that are designed for safe and efficient air travel.
In July 2022, Cirrus Aircraft joins EAA AirVenture Oshkosh to showcase seven best-selling SR Series and Vision Jet aircraft showcasing the company's range of unique models and attractive deliveries. In collaboration with United Aviate Academy, Cirrus Aircraft's display features the TRAC20 SR for advanced flight training, customized with United Aviate Academy's branding.
Key Target Audience
Ultralight Aircraft Manufacturers, Research and Development (R&D) Companies, Independent Research Laboratories, Market Research and Consulting Service Providers and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.