Ultralight Aircraft Market to Reach $9.7 Billion by 2031, Driven by 6% CAGR : Industry Analysis

According to a new report published by Allied Market Research, titled, "Ultralight Aircraft Market," The ultralight aircraft market was valued at $5.6 billion in 2021, and is estimated to reach $9.7 billion by 2031, growing at a CAGR of 6% from 2022 to 2031. Asia-Pacific dominated the ultralight Aircraft market in terms of growth, followed by North America, Europe, and LAMEA. The U.S. dominated the market share in 2020.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/5788

The ultralight aircraft market holds a great potential backed by the rise in global expenditure toward sports and recreational activities. Attributes such as simple mode of operation and minimal regulatory limitations toward owning and operating an ultralight aircraft is one of the major market accelerators. Research and development by major companies such as Airbus to develop electric ultralight aircraft such as e-fan is one of the primary driving factors. Rise in global population and demand to commute effectively is one of the growing logistics concerns across the globe.

Application of ultralight aircraft in future commutation is bolstering business opportunities. Advancements in material technology, electronic components, and manufacturing technologies are expected to play a vital role in shaping future prospects of the ultralight aircraft market penetration. Discovery of ultralight alloys is anticipated to eventually improve operational efficiency of ultralight aircraft, providing longer flight range. Mature electronics and battery systems are expected to replace redundant propulsion system, ensuring environmentally friendly operations and additive manufacturing allowing designers to improve aerodynamics and an aircraft.

The ultralight aircraft market is segmented on the basis of technology, propulsion, takeoff, end use, and region. By technology, it is categorized into manned and unmanned. The propulsion segment is further sub divided into conventional propulsion and electric & hybrid propulsion. Depending on takeoff, the market is fragmented into commercial takeoff and landing (CTOL) and vertical takeoff and landing (VTOL). The end use segment is bifurcated into civil and commercial & military. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/ultralight-aircraft-market/purchase-options

Factors such as low cost of acquisition and maintenance, and absence of regulatory norms limiting civilians to fly an ultralight aircraft in certain regions. Placement of ultralight aircraft in recreational and sports activities are backed by increasing expenditure trends by civilians across the globe to support business opportunities within the region. Rise in disposable income across the globe and increasing delays in delivery of conventional aircraft is expected to impact ultralight aircraft in a positive manner to a certain extent. Rise in sports, tourism, and recreational activities post COVID-19 is supporting business opportunities within the segment. In Q1 2022, there were an expected 117 million foreign visitors, up from 41 million in Q1 2021, an increase of 182% year over year. About 47 million of the additional 76 million overseas arrivals were counted in March 2022.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

By technology, the unmanned segment leads the ultralight aircraft market size during the forecast period.

By propulsion, the electric and hybrid segment leads the market during the forecast period.

By takeoff, the VTOL segment is expected to grow at lucrative growth rate during the forecast period (2022-2031).

By end use, the military segment leads the market during the forecast period.

Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/5788

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

AutoGyro,
Pilatus Aircraft Ltd,
Pipistrel,
Textron Inc,
VOLOCOPTER GMBH,
Cirrus Aircraft,
Vulcanair,
Piper Aircraft,
Neva Aerospace,
Boeing.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

Commercial Aircraft Market :
https://www.alliedmarketresearch.com/commercial-aircraft-market

Aircraft Window Frame Market :
https://www.alliedmarketresearch.com/aircraft-window-frame-market-A31492

Aircraft Cabin Lighting Market :
https://www.alliedmarketresearch.com/aircraft-cabin-lighting-market

Firefighting Aircraft Market :
https://www.alliedmarketresearch.com/firefighting-aircraft-market-A13904

Aircraft Electrical System Market :
https://www.alliedmarketresearch.com/aircraft-electrical-system-market-A06200

Ultralight Aircraft Market :
https://www.alliedmarketresearch.com/ultralight-aircraft-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

David Correa
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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.