Ultralight and Light Aircraft Market size exceeded USD 4.8 billion in 2019 and is estimated to grow at over 8.9% CAGR from 2020 to 2026

Ultralight and Light Aircraft Market Size
Ultralight and Light Aircraft Market size was above USD 4.8 billion in 2019 and it is predicted to progress at a CAGR rate of more than 8.9% between 2020 and 2026.

Ultralight and light aircrafts are light-weight aircrafts with a small capacity, which can be utilized in recreational sports, pilot training, survey & research, agriculture, and business trips.

These aircrafts come in a variety of categories that include single engine piston aircrafts to sophisticated multi engine aircrafts. Reduced cost of ownership along with simplicity of flight operations are the key drivers likely to shape the ultralight and light aircraft market growth during the forecast period. Increased pilot training centers along with the spread of certification courses for hobby flying operations are likely to create lucrative opportunity for the market growth.

Improvements in farm methods and increased use of ultralight and light aircraft in agriculture are boosting the demand for products. In accordance with the National Agricultural Aviation Association’s (NAAA) 2019 survey, the agricultural aviation industry treats approximately 127 million acres of cropland aerially.

Ultralight and Light Aircraft Market Report Attributes
Report Attribute\tDetails
Base Year\t2019
Ultralight and Light Aircraft Market Size in 2019\t4.88 Billion (USD
Forecast Period\t2020 to 2026
Forecast Period 2020 to 2026 CAGR\t8.9%
2026 Value Projection
9.45 Billion (USD)
Historical Data for
2016 to 2019
No. of Pages
219
Tables, Charts & Figures
285
Segments covered
Aircraft type, Technology, Application, Propulsion, and Region
Growth Drivers
Technological advancements and sales & services network expansion
Increased adoption of urban air mobility
Increased tourism and sport flights
Increased private jet industry
Increased number of High Net Worth Individuals (HNWI)
Pitfalls & Challenges
Increasing concern for pilot and passenger safety
What are the growth opportunities in this market?

Ultralight and Light Aircraft Market Trends
Increasing R&D spends and cooperation among various aircraft and component makers to create new technologies for urban air mobility solutions will offer profitable scope for the industry growth.

The plane is propelled by hybrid electric propulsion system with VTOL capabilities. Some of the technology providers such as Safran, Thales, EPS, and Garmin Ltd. are working on developing diversified aviation systems for Bell Nexus.

Ultralight and Light Aircraft Market Analysis
Increased fears for the safety of pilots and passengers due to a number of accidents of these planes are creating a significant threat for the growth of the industry. The National Transportation Safety Board (NTSB) states that in 2018, most of the aviation fatalities in 2018 occurred during general aviation operation and rose to 381 from 331 in 2017.

But the ultralight and light aircraft producers are working towards enhancing passenger safety with the use of advanced technologies that are likely to increase passenger safety by a great margin. For example, in October 2019, Cirrus Aircraft launched Safe Return, an emergency auto-land system. The system transforms the manned aircraft into an autonomous one in the event of an emergency and guides the aircraft to the nearest appropriate airport for landing.

Light aircraft segment commanded over 64% of the ultralight and light aircraft market share in 2019 because of the growing demand of small business jets from various industries. Rising demand for private jets coupled with the need to improve safety, performance, and comfort are key drivers of R&D spending in the industry.

A number of aircraft manufacturers are designing small single engine aircrafts and jets with enhanced performance and design of aircrafts that will also enhance the industry demand.

Get an insight into the driving segments for this market

Traditional Take-Off and Landing (CTOL) technology accounted for 82% of the market share of ultralight and light aircraft in 2019 due to the presence of multiple models with diverse power output and price range. Technology growth combined with increased general aviation airport infrastructure worldwide will drive the demand for the product within the forecast period.

For example, in May 2016, China’s State Council declared its intentions to support the lower altitude air space for civil aviation as well as enable more than 500 airports to support small aircraft fleet within the country by 2020. Nevertheless, increasing technology advancements along with space limitation in the near future will witness profitable scope for VTOL technology.

Increase in business travel and increasing popularity of air charter services are the key drivers for the generation of higher market revenue from civil and commercial use cases. Rising recreational expenditure along with increasing tourism are further elevating the market revenue. Some of the developed countries such as UK and the U.S. are going to establish regulatory framework for Urban Air Mobility (UAM) that will be a rewarding opportunity for the value of the industry.

Traditional propulsion system in the ultralight and light aircraft industry will experience 7% growth rate until 2026 driven by the affordability of prices as well as scarce alternatives. Increasing personal aviation and increasing need to improve passenger comfort will also offer good growth prospects. Players in the industry are involved in creating new aircraft engines with sophisticated engine control system to improve the engine performance.

Find out more about the major segments driving this market

North America light and ultralight aeroplane market acquired more than 42% revenue share during 2019 driven by growing recreational aircraft sporting activities and improved flexibility provided by these aeroplanes compared to passenger aeroplanes. Many pilot training organisations are requesting state-of-the-art training aeroplanes for their growth and development of training fleet, thus exhibiting tremendous growth opportunities.

Ultralight and Light Aircraft Market Share

Major companies operating in the ultralight and light aircraft market include

• Costruzioni Aeronautiche TECNAM S.p.A
• Cirrus Aircraft
• Pilatus Aircraft Ltd
• Piper Aircraft Inc
• Textron Inc
• Autogyro GmbH.

Technology development, product launch, and expansion of dealership network are the key strategies adopted by industry players for the business progression.