Technological advancements in the field of avionics is a major factor pushing the growth of global ultralight and light aircraft market

Ocean View, DE -- (SBWire) -- 06/25/2020 --Technological advancements in the field of avionics is a major factor pushing the growth of global ultralight and light aircraft market. Additionally, the ever-increasing sport aircraft demand across the world is another major reason that is anticipated to complement the overall industry share through 2026.

There is a huge demand for ultralight and light aircraft globally since they are used for pilot training activities. These aircraft also have applications in recreational flying activities which are also observing a hike lately. Along with these applications, rapidly growing tourism sector and increasing expenditure of people on air travel are further adding up to the overall ultralight and light aircraft market growth.

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The Major Key Players in the Market are as follows:
1. Airbus
2. Cirrus Aircraft
3. TECNAM Aircraft
4. Evektor, spol. s r.o.
5. Pilatus Aircraft Ltd
6. Piper Aircraft
7. Robinson Helicopter Company
8. Textron

Based on aircraft type, light aircraft market segment is expected to hold 95% revenue share by 2026. Light aircrafts offer improved comfort to passengers, this factor together with development of advanced avionics is fueling the segmental growth.

There has been an increase in demand for lightweight helicopters for search & rescue as well as air medical operations. Rising adoption of light aircrafts for personal flying coupled with rising capita per income that is creating more and more High Net Worth Individuals globally are contributing towards popularity of these light aircrafts across the globe.

Estimates claim that VTOL (vertical take-off & landing) technology segment is presumed to expand with a CAGR of 8.4% through 2020 and 2026. The growth is attributed to induction of helicopters in ultralight category and rapid expansion of distribution network. In July 2017 for instance, Dynali began exporting H3 sport helicopters to their official distributor Hanger 36 in the United States. Furthermore, advancements in technology pertaining to electric VTOL are also favoring the ultralight and light aircraft market outlook.

Based on the application spectrum, the civil & commercial applications segment is expected to hold 80% revenue share by the end of the study period. Small business jets offer low ownership cost, reliability and easy maintenance, and increasing demand for small sized business jets is contributing towards the market growth. In addition, increasing air charter services for inter and intracity travel in countries such as China and Japan are aiding the business scenario.

As per estimates, electric & hybrid propulsion aircrafts segment in Ultralight and light aircraft market is expected to grow with a CAGR of 3.4% through 2026. The growth is attributed to surging investments towards development of electric aircrafts and rising testing activities of new aircrafts for training purposes. For instance, Pipistrel d.o.o. successfully completed the first flight of Alpha Electro aircraft in June 2018.

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Europe ultralight and light aircraft market would proliferate exponentially exhibiting a growth rate of approximately 7.3% over the forthcoming years owing to testing and development of various UAM (urban air mobility) solutions.

In fact, various cities of Europe like Toulouse and Hamburg are partnering to develop UAM initiatives under the EIP-SCC (European Innovation Partnership in Smart Cities and Communities). Growing recreational air sport activities would further propel the ultralight and light aircraft market in the region.

Some Points From Table Of Content: -
Chapter 4 Ultralight and Light Aircraft Market, By Aircraft Type
4.1 Ultralight and light aircraft industry by aircraft type insights
4.2 Light aircraft
4.2.1 Market estimates and forecast, 2016 - 2026, (Units) (USD Million)
4.2.2 Market estimates & forecast, by region, 2016-2026 (Units) (USD Million)
4.3 Ultralight aircraft
4.3.1 Market estimates and forecast, 2016 - 2026, (Units) (USD Million)
4.3.2 Market estimates & forecast, by region, 2016 - 2026 (Units) (USD Million)

Chapter 5 Ultralight and Light Aircraft Market, By Technology
5.1 Ultralight and light aircraft market by technology insights
5.2 CTOL
5.2.1 Market estimates and forecast, 2016 - 2026, (Units) (USD Million)
5.2.2 Market estimates and forecast, by region, 2016 - 2026 (Units) (USD Million)
5.3 VTOL
5.3.1 Market estimates and forecast, 2016 - 2026, (Units) (USD Million)
5.3.2 Market estimates and forecast, by region, 2016 - 2026 (Units) (USD Million)

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