Study Predicts Growth in Market for Ultralight Aircraft
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Ultralight Aircraft Market: Market Dynamics
The Ultralight Aircraft market is driven by the rise in spending on sports and recreation. Ultralight Aircrafts are extensively used by amateur pilots for travelling to short distances. They are becoming a popular sports and recreation alternative. Moreover, as the OEM’s are introducing lightweight aircrafts with higher speed the demand of ultralight aircraft is anticipated to increase over the assessment period. Moreover, with versatility in training of pilots many people adopt to attend short term pilot training courses and become eligible to fly ultralight aircrafts. This is a prime reason which makes ultralight aircrafts a more convenient option for the people to cherish their flying dream. Moreover, other reasons which promote the growth of the ultralight aircraft market include economical purchase and operational cost and easy maintenance characteristics. Furthermore, the ultralight aircrafts can be flown from small fields, this would further promotes the demand of ultralight aircraft over the forecast period. Recently, the flying regulations regarding single seat ultralight aircraft have been deregulated. This relaxation in rules will further attract new customer base and create opportunities for augmentation of the said market over the assessment period.
The slowdown in the aviation industry derails the demand patterns of ultralight aircraft. Moreover the lack of standards for pilot certifications further restrains the growth opportunities for the ultralight aircraft market. The design of ultralight aircraft is such that it increases safety concerns for its customers. This could have a negative impact on the sales of ultralight aircraft market over the assessment period.
Ultralight Aircraft Market: Segmentation
On the basis of Engine Type, global ultralight aircraft market can be segmented into:
On the basis of Aircraft Type, global ultralight aircraft market can be segmented into:
On the basis of Application, global ultralight aircraft market can be segmented into:
Ultralight Aircraft Market: Regional Outlook
Owing to growing tourism in developing economies of Asia-Pacific region such as China and India will create opportunities for the OEM’s to boost up their sales in the region. Moreover countries such as Vietnam are becoming new manufacturing hubs in the Asia-Pacific region. This will further promote the anticipated growth of ultralight aircraft market in the said region. European market is driven by increasing investment in sports and recreation. This will further increase the demand of ultralight aircraft over the assessment period. Increasing deregulations in the North American region will further promote the growth of the ultralight aircraft market and encourage the OEM’s to focus on innovation in their product offerings. Furthermore, growing potential of tourism in MEA will create opportunities for further augmentation of the said market over the assessment period.
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Ultralight Aircraft Market: Key players
FLIGHT DESIGN general aviation GmbH
Cub Crafters, Inc
Jabiru Aircraft Pty. Ltd.
Evektor, Spol. S.R.O
American Legend Aircraft Co.
Pipistrel D.O.O. Ajdovš?ina
Costruzioni Aeronautiche Tecnam S.R.L.
Cirrus Design Corporation
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