Ultralight aircraft are lightweight aircraft that have capacity for one or two people, and are designed for short distance travel. They are widely used in recreational and aero sports activities such as paragliding, parachuting, hang gliding, air racing, drone racing, and aerobatics.
Increase in indulgence in recreational activities is the key factor that boosts the growth of the global ultralight aircraft market growth. In addition, upsurge in demand for ultralight aircraft for various sports & recreational activities fuels the market growth. Furthermore, as these aircraft are lighter in weight and have high speed, their demand across commercial and military sectors has increased at a considerable rate. Moreover, reduced operational costs, lower maintenance, and economical purchase propel the growth of the market. In addition, the use of ultralight aircraft in defense activities such as search & rescue & intelligence activities and surge in use of such aircraft for short-term aviation courses for training purposes positively impact the market growth. However, safety concerns of pilot & passengers, dearth of skilled pilots, and lack of standardization act as major restraints of the ultralight aircraft market. On the contrary, technological advancements and instruction of safety options for pilot & passengers are anticipated to offer lucrative opportunity to players in the ultralight aircraft industry.
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The global ultralight aircraft market is segmented into material, aircraft type, engine type, application, and region. By material, the market is categorized into aluminum, composite, and others. On basis of aircraft type, it is fragmented into fixed wing, flex wing, and rotary wing, which are further divided based on wing type. Fixed wings are divided into microlight, light sport aircraft, and sea plane. Flex wing division is done into trike, powered paraglider, hang glider, and ultralight glider. Rotary wing is bifurcated into autogyros and helicopters. Depending on engine type, the market is classified into fuel engine and electric engine. The applications covered in the study include recreation, commercial, and defense. The ultralight aircraft market analysis is done across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global ultralight aircraft market are Pilatus Aircraft Ltd., P&M Aviation, Textron Inc., PIPISTREL d.o.o., Autogyro GmbH, Evektor Aerotechnik, Quicksilver, CubCrafters, Aeropro s.r.o., and Costruzioni Aeronautiche Tecnam S.p.A.
KEY BENEFITS FOR STAKEHOLDERS
- The report outlines the current ultralight aircraft market trends and future scenario of the market size from 2018 to 2026 to understand the prevailing opportunities and potential investment pockets.
- Porter’s five force analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries in the regions have been mapped according to their individual revenue contribution.
- The key drivers, restraints, and market opportunities and their detailed impact analysis are elucidated in the study.
- The ultralight aircraft market analysis covers in-depth information of major ultralight aircraft industry share of participants.
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KEY MARKET SEGMENTS
- Fixed Wing
- Light Sport Aircraft
- Sea Plane
- Flex Wing
- Powered Paraglider
- Hang Glider
- Ultralight Glider
- Rotary Wing
- Fuel Engine
- Electric Engine
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