The ultralight aircraft market is projected to reach USD 389.26 Million by 2020, at a CAGR of 5.23% from 2015 to 2020. The market study considers 2014 as the base year and 2015 to 2020 as forecast years. The market is segmented on the basis of aircraft type, engine type, application, and region. On the basis of aircraft types, this market is classified into fixed wing, flex wing and rotary wing. In terms of value, the fixed wing ultralight segment is projected to account for the largest market share, whereas in terms of volume, the flex wing ultralight segment is expected to account for the largest market share by 2020.
Key players in the ultralight aircraft market have been identified through the secondary research, and their market share has been determined through primary and secondary research. These include a study of annual and financial reports of top players and extensive interviews of leaders including CEOs, directors, and marketing executives.
This business jet market report provides a market analysis for the next five years. It contains an analysis of drivers, challenges, and restraints that impact the industry. It also discusses the industry, market, and technology trends that currently prevail in the market. It provides the market size of the business jet market over the next five years and talks about the market share ofspecific sub-sectors for each region.
The ecosystem of the ultralight aircraft market comprises raw material suppliers, manufacturers, distributors, and end users. The key end users of the market are adventurists, enthusiasts, recreational flyers and sectors such as defense and commercial. The ultralight aircraft market is characterized by direct distribution channels and the presence of mainly OEMs and Tier 1 & Tier 2 companies.
The market is led by key players such as Costruzioni Aeronautiche Tecnam S.R.L. (Italy), Cub Crafters, Inc. (U.S.), Flight Design GmbH (Germany), Pipistrel D.O.O. Ajdovšèina (Slovenia), and Evektor spol s.r.o. (Czech Republic), American Legend Aircraft Co. (U.S.), Aeropro s.r.o. (Slovakia), Jabiru Aircraft Pty. Ltd. (Australia), Quicksilver Aircraft (U.S.), and P&M Aviation (U.K.).
Europe is still the second largest market for business jets. The demand for business jets in Europe still remains below the pre-recession average, as the after effects of the sovereign debt crisis continue to hamper the consumer and business confidence across the region.
Latin America, APAC, and Africa are expected to be the key growth regions in the business jet market. Latin America accounts for 11% of the global market. It has the oldest aircraft fleet in the world. Hence, expected replacements will account for a significant number of deliveries in this region. APAC constitutes about 12% of the global market, with China and India being the key players.
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Under developed infrastructure, high aircraft import taxes, and high user fees are the reasons for the small business jet fleet in these countries. Continued globalization and a burgeoning economy are expected to increase the penetration level of business jets in this region.
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