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Ultralight and Light Aircraft Market Trends
- Report ID: GMI3520
- Published Date: Feb 2020
- Report Format: PDF
Ultralight and Light Aircraft Market Trends
Rising R&D investments along with collaboration of several aircraft and component manufacturers to develop new technologies for urban air mobility solutions will provide lucrative opportunity for the industry expansion.
The aircraft is powered by hybrid electric propulsion system with Vertical Take-Off and Landing (VTOL) capabilities. Several technology providers including Safran, Thales, EPS, and Garmin Ltd. are engaged in developing diversified aviation systems for the Bell Nexus.
Frequently Asked Questions (FAQ) :
The market size of ultralight and light aircraft was surpassed USD 4.8 billion in 2019.
The industry share of ultralight and light aircraft is anticipated to grow at around 9% CAGR between 2020 and 2026.
North America holds significant market share of over 42% impelled by rising recreational aircraft sport activities and greater flexibility offered by these aircrafts as compared to passenger aeroplanes.
Conventional propulsion system will showcase considerable growth of more than 7% in the market through 2026 owing to price affordability as well as limited alternatives.
Some of the major industry participants include Costruzioni Aeronautiche TECNAM S.p.A., Cirrus Aircraft, Pilatus Aircraft Ltd, Piper Aircraft, Inc., Textron Inc., and Autogyro GmbH.
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