Light-Sport Aircraft Market to witness Massive Growth by 2025-Costruzioni Aeronautiche TECNAM SpA, Pipistrel d.o.o, ICON Aircraft, Cub Crafters Inc

Light-Sport Aircraft Market by Component, Application, Services, and Region- Forecast to 2025

The Global Light-Sport Aircraft Market Research Report 2021-2025 published by MarketInsightsReports is a significant source of keen information for business specialists. It furnishes the Light-Sport Aircraft business outline with development investigation and historical and futuristic cost analysis, income, demand, and supply information (upcoming identifiers). The research analysts give a detailed depiction of the Light-Sport Aircraft worth chain and its wholesaler examination. Light-Sport Aircraft Market study gives extensive information which upgrades the agreement, degree, and use of this report.

The light-sport aircraft market is anticipated to register a CAGR of over 1.5% during the forecast period.

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Top Leading Companies of Light-Sport Aircraft Market are Costruzioni Aeronautiche TECNAM SpA, Pipistrel d.o.o, ICON Aircraft, Cub Crafters Inc., Czech Sport Aircraft AS, Paradise Aero Industry, Evektor-Aerotechnik, Van's Aircraft Inc., Flight Design General Aviation GmbH, JMB Aircraft s.r.o., Jabiru Aircraft Pty Ltd, TL-ULTRALIGHT s.r.o., American Legend Aircraft Company, REMOS AG, Aeropro s.r.o., Zenith Aircraft Company and others.

Industry News And Updates on Light-Sport Aircraft Market-

North America is Expected to Generate the Highest Demand During the Forecast Period

Currently, North America has the highest share in the market, and it is expected to continue its domination during the forecast period. The Light Aircraft Manufacturers Association (LAMA) and the US Ultralight Association (USUA), in support of GAMA, the Experimental Aircraft Association (EAA), and the Aircraft Owners and Pilots Association (AOPA), are working with FAA to develop the light sport aircraft manufacturing industry and open up new opportunities for operators of LSA. Additionally, the FAA plans to increase the weight limit for LSA, which is anticipated to come into effect by the end of 2019 or early 2020. Such changes in the regulations are expected to act as significant factors supporting the companies to manufacture new aircraft models, which may help the growth of the market in the United States, and thus, drive the growth of the market in North America during the forecast period.

Key Market Trends Light-Sport Aircraft Market-

The Airplane Segment Expected to Experience the Highest Growth During the Forecast Period

Currently, the airplane segment of the market studied has the highest share, and it is expected to register the highest CAGR during the forecast period. The growth of adventure sports in regions, like North America, Europe, and some parts of the Middle East, is the primary reason for the growth of the airplane segment. The light-sport aircraft manufacturers, like Costruzioni Aeronautiche TECNAM SpA, Pipistrel d.o.o, and Flight Design General Aviation GmbH, delivered 63, 22, and 43 aircraft, respectively, in 2018, and 72, 19, and 32 aircraft, in 2017, respectively. The larger scope of use for airplanes (as they can be used in both land and water-locked areas), as compared to seaplanes (only useful near the water boundaries), and the growing support of LSA manufacturing are expected to fuel the growth of the airplane segment during the forecast period.

Competitive Landscape On Light-Sport Aircraft Market-

Competitive Landscape

The market is fragmented, with the presence of many regional players in various countries, like the United States, France, Canada, Germany, China, and Australia. Some of the prominent players in the light sport aircraft market are Zenith Aircraft Company, Cub Crafters Inc., ICON Aircraft, Flight Design General Aviation GmbH, and American Legend Aircraft Company. Over the years, with the ease of certification standards, many startups entered the market, resulting in further fragmentation in terms of market share. In April 2019, the Italian manufacturer, Tecnam, unveiled three new models of aircraft, namely, the P2002JF MkII IFR, the P92 Echo MkII, and the Sierra MkII EU 600 kg, at the AERO 2019 in Germany. These aircraft are expected to be certified by 2020. Currently, the Sierra MkII EU 600 kg model is made available for customers in countries where this category is approved by the local civil aviation authorities.

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