Ultra-light Aircraft Market: Introduction
The definition & classification of ultra-light aircraft varies from country to country as per regulations. In the U.S., Part 103 of the Federal Aviation Regulation defines an ultra-light aircraft as an aircraft with a maximum fuel capacity of 5 gallons, maximum empty weight (powered aircraft) of 254 lbs and one that can’t carry a passenger (has a single seat only). The same norm also specifies that one doesn’t require a medical certificate or a license of any kind to fly an ultra-light aircraft. Whereas in Europe, the maximum seat capacity is 1 or 2 seats, and countries such as the U.K., Italy and Germany follow strict safety regulations that require training and license for classes.
From a customer stand point, an ultra-light aircraft provides an affordable way to fly. Since the beginning, the global ultra-light aircraft market has been witnessing rapid growth, and in affluent countries, such as Europe, and the U.S. it accounts for approximately 20% of civil aviation. Furthermore, ultra-light aircraft can be recognized under a variety of names, depending on the regulations in a country, such as micro-lights, ULMs, light-sport aircraft and ultra-lights. The ultra-light aircraft market has undergone high technological advancement in recent years to produce more fuel-efficient aircraft designs, which in turn is expected to spur market growth over the forecast period. In the global ultra-light aircraft market, growth is relational to trends in the aircraft industry. For instance, the industry is witnessing high adoption of composite materials, such as carbon fiber composites in production, due to which there is a high focus on producing relatively light aircraft with increased efficiency. Additionally, factors that drive the ultra-light aircraft market include cost-effective ownership of ultra-light aircraft, increase in personal disposable income, simplistic design & ease of use, and rise in recreational & sports spending.
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Ultra-light aircraft can be classified by their primary types, namely rotary wing, fixed wing, and flex wing. In the global ultra-light aircraft market, based on various aircraft types, the fixed wing segment is estimated to account for the major market share, owing to the advantages offered by this type, such as better control, light weight, and good range.
Ultra-light Aircraft Market: Dynamics
Significant growth in civil aviation worldwide and increasing preference towards cost-effective air travel for luxury & recreational activities are the primary factors estimated to support growth of the ultra-light aircraft market.
Additionally, the rise in recreational and sports activities, personal disposable income, and low maintenance & operation cost of ultra-light aircraft are forecasted to spur the global ultra-light aircraft market. The global ultra-light aircraft market is expected to have high opportunity potential in the fixed wing segment.
Stringent regulations regarding license and safety measures are estimated to be key growth restraints over the forecast period. Moreover, the names of ultra-light aircraft vary from country to country, which is estimated to be a major growth restraint to overland flight and international trade.
Ultra-light Aircraft Market: Segmentation
The global ultra-light aircraft market segmented on the basis of aircraft type: rotary wing, fixed wing, and flex wing.
The global ultra-light aircraft market classified on the basis of engine type: powered aircraft and unpowered aircraft. The powered aircraft segment can be further bifurcated into fuel powered and electric.
The global ultra-light aircraft market segmented on the basis of application: recreational, military and others (commercial).
Ultra-light Aircraft Market: Regional Outlook
On the basis of regions, North America and Europe are estimated to remain dominant markets over the forecast period. Europe is estimated to be remain dominant over the forecast period, owing to growth in recreational & sports activities. Countries, such as the U.K., Germany, Italy and France drive the ultra-light aircraft market in the Europe. Middle East & Africa, Japan, and Latin America are expected to be lucrative regions over the forecast period. The Asia Pacific ultra-light aircraft market is anticipated to grow steadily over the forecast period, due to growth in personal disposable income and rise in leisure activities in countries, such as India, China, South Korea, and Japan.
Ultra-light Aircraft Market: Market Participants
Examples of some of the market participants in the global ultra-light aircraft market, identified across the value chain include:
- P&M Aviation
- Costruzioni Aeronautiche TECNAM S.r.l.
- Cub Crafters, Inc.
- Flight Design GmbH
- Quicksilver Aircraft
- Jabiru Aircraft Pty. Ltd.
- American Legend Aircraft Company
- Aeropro s.r.o.
- Belite Enterprises LLC
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