LONDON--(BUSINESS WIRE)--Technavio has announced the top six leading vendors in their recent global light aircraft market report. This research report also lists three other prominent vendors that are expected to impact the market during the forecast period.
The airline industry has experienced a significant boost owing to the lenient guidelines and through affordable air travel. The emergence of low-cost carriers with reduced fares have become popular in established markets as well as among the growing middle-class population. Similarly, with the growth in air travel, there has been a simultaneous increase in the demand for light aircraft for commercial and personal use.
Competitive vendor landscape
The global light aircraft market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain the maximum market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are the key factors that pose a threat to the growth of the market.
“The vendors compete based on cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide advanced and high-quality light aircraft to survive and succeed in the intensely competitive market environment,” says Avimanyu Basu, a lead general aviation research analyst from Technavio.
The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving their products.
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Top six light aircraft market vendors
Cirrus Aircraft has developed several versions of its four certificated aircraft models, the Vision Jet, SR20, SR22, and SR22T. It had also planned to develop a light sports aircraft, named the Cirrus SR Sport, but eventually suspended the project in 2009 because of high R&D costs and lack of market demand.
Electric Aircraft Corporation
ElectraFlyer Trike complies with Federal Aviation Regulations, part 103. The standard ElectraFlyer is equipped with a 5.6 kWh Lithium-ion polymer battery, which powers an 18 hp (13 kW) electric motor which can be optionally upgraded to a 40 hp (30 kW) motor. Depending on the number of battery packs mounted, the aircraft can fly for 1-2 hours, after which, it needs to be recharged for 5 to 6 hours using a standard 120-volt alternating current outlet.
The company has developed a new, lightweight, and single-seater e-Go aircraft prototype. It was successfully tested in 2013. However, post the Brexit, the company could not raise funds for the development of the e-Go aircraft and is, thus, seeking a buyer currently that can take over the operations of the company.
The company launched ICON A5, an amphibious LSA, at the EAA AirVenture Oshkosh in the US in 2014. The aircraft has a maximum range of 300 nautical miles, top speed of 109 mph, and is priced approximately at USD 189,000. The aircraft is equipped with folded wings that enable transportation and storage.
The company develops VL3 Evolution light aircraft, a modernized and marketed version of the initial Aveko VL-3 Sprint prototype, which was developed by Aveko of Brno (Czech Republic). The airframe of the new VL3 Evolution is made up of composites, which results in enhanced strength and fatigue resistance properties. The aircraft wing has an aerodynamic design that gives good fall characteristics to the airplane.
Textron Aviation develops and markets three aircraft families under the brand name of Cessna. While the Cessna Citation family has 10 aircraft with the maximum ranges of the aircraft varying between 1,200 and 4,500 nautical miles, the Turboprop engine family has a total of three aircraft with their maximum ranges varying between 964 and 1,600 nautical miles and the Piston engine family has 5 aircraft with their maximum ranges varying between 640 and 1,370 nautical miles.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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