Global Ultralight and Light Aircraft Market is valued at approximately USD 7.08 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.9% over the forecast period 2022-2028. Ultralight aircraft are smaller and lighter compared to commercial planes. Ultralight aircraft are defined based on Maximum Take-off Weight (MTOW). The ultralight aircraft has a maximum take-off weight that has a capacity for one or two people. This aircraft is designed for short-distance travel and is highly adopted in aero sports and recreational activities such as drone racing, paragliding, hang gliding, air racing, parachuting, and aerobatics. The low-cost operation and maintenance of ultralight aircraft, increasing use of UAVs in various military and commercial operations, coupled with the rising expenditure on the military sector are major factors bolstering the growth of the global market. For instance, according to the World Bank, in 2018, military expenditure accounted for 2.1% of GDP, and the percentage increased and reach 2.4% of GDP. Consequentially, the rising spending across the military segment is exhibiting a positive influence on the demand for ultralight and light aircraft, which leads the market growth around the world. However, safety considerations for the operation of ultralight and light aircraft and the shortage of skilled pilots impede the growth of the market over the forecast period of 2022-2028. Also, increasing advancements in the traditional aircraft propulsion and rising developments in passenger drones and UAV payloads are anticipated to act as catalyzing factors for the market demand during the forecast period.
The key regions considered for the global Ultralight and Light Aircraft Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the presence of well-established manufacturers of ultralight and light aircraft such as Textron, Piper Aircraft, Cirrus, and others. Whereas, Europe is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the increasing demand for unmanned aerial vehicles (UAV), as well as the rising investment in research and development, would create lucrative growth prospects for the Ultralight and Light Aircraft Market across the European region.
Major market players included in this report are:
Costruzioni Aeronautiche TECNAM S.p.A.
American Legend Aircraft Co.
Honda Aircraft Company
Flight Design General Aviation GmbH
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product Components of key players. The detailed segments and sub-segment of the market are explained below:
By Aircraft Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Ultralight and Light Aircraft Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers