General Aviation Industry Outlook 2023, Size, Forecast Report by 2028

The latest research study by IMARC Group, "General Aviation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" offers that the global general aviation market size reached US$ 25.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.1 Billion by 2028, exhibiting a growth rate (CAGR) of 3.4% during 2023-2028.

General aviation includes all aircraft operations except commercial airlines, military aircraft, or unscheduled air transport services for remuneration or hire. It comprises gliders, piston fixed-wing, helicopters, business jets, and turboprops as standard aircraft. It involves various activities, such as flight training, charter operations, cargo flights, crop dusting, civil search and rescue, and medical evacuation. It provides on-demand air transportation services, safety, privacy, improved efficiency, and flexible travel options. Since it helps enhance output, promote travel, protect the environment, improve agricultural practices, and support law enforcement agencies, general aviation is gaining immense traction across the globe.

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General Aviation Market Trends and Drivers:

The global general aviation market is primarily driven by rapid growth in the tourism industry. Moreover, the rising demand for private aviation services, including charter flights, corporate jets, and transportation for very important persons (VIPs), is positively influencing the market growth. Additionally, the rising trend of recreational flying and aerial sports, such as air racing, aerobatics, air shows, balloons, and powered or powerless gliders, is another major growth-inducing factor. Along with this, the rising consumer spending on air travel for sightseeing, charter operations, skydiving, parachute jumping, and self-flown tourism has catalyzed market growth. Furthermore, the introduction of hybrid and all-electric aircraft to reduce aviation emissions and provide a more affordable and quieter flying experience is contributing to market growth. Other factors, including increasing investments in research and development (R&D) projects, rising demand for piston fixed-wing aircraft, and favorable government initiatives, are also anticipated to propel the market growth.

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General Aviation Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Airbus SE
• Bombardier Inc.
• Dassault Aviation SA.
• Eclipse Aerospace Inc. (One Aviation Corporation)
• Honda Aircraft Company (Honda Motor Co. Ltd)
• Lockheed Martin
• Pilatus Aircraft Ltd
• Piper Aircraft Inc.
• Textron Aviation Inc.
• The Boeing Company.

The report has segmented the market on the basis of product and application.

Breakup by Product:

• Helicopters
• Piston Fixed-wing Aircraft
• Turboprop Aircraft
• Business Jet

Breakup by Application:

• Commercial
• Non-Commercial

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance 2027-2022
• Market Outlook 2023-2028
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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