Industry Background:
The global sport aircraft market is expected to witness high growth in the forecasted period due to the increasing demand for adventure sports and water sports. The sports aircraft is a fairly new category of small aircraft that are simple to fly. Sport aircraft have low purchase prices and maintenance costs, simple and easy to fly. Sport pilot training can be completed with fewer flight hours than other certifications, making it a cheaper training option.According to AMA, the market for Sport Aircraft is expected to register a CAGR of 1.6% during the forecast period to 2026. This growth is primarily driven by The Increasing Demand for Adventure Sports and Water Sports and High Demand for Light Aircraft across the World.
Globally, a noticeable market trend is evident The Growing Demand for Travel and Tourism Industry
. The Aerospace & Defense sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as CubCrafters (United States), Flight Design (Germany), Legend Aircraft (United States), Tecnam (Italy), Cessna (United States), Czech Sport Aircraft (Czech), Remos (Germany), Jabiru (Australia), CGS Aviation (United States) and Progressive Aerodyne (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 5th June 2019, the first public flight of the Flight Design F2e took place at the Strausberg airfield, near Strausberg Germany. The aircraft is based on the newly developed F2 from Flight Design with an integrated safety cell and is equipped with an innovative electric propulsion system.
On 23rd April 2019, Textron Aviation has announced that its Cessna Citation Longitude business jet had earned its long-awaited certification from the Federal Aviation Administration.
Market Drivers
- The Increasing Demand for Adventure Sports and Water Sports
- High Demand for Light Aircraft across the World
Market Trend
- The Growing Demand for Travel and Tourism Industry
- The Ease in Regulations of Various Civil Aviation Authorities
Restraints
- Concern Related to Short Speed and Range
- Sport Pilots are Restricted to Day VFR Flying at Non-Towered Airfields
Opportunities
Increasing Investments made by many Regional Players in the Development of New Aircraft and Growing Demand for Emerging Countries
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Sport Aircraft Study Sheds Light on
The Sport Aircraft Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Sport Aircraft industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Sport Aircraft industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.