A key factor driving the growth of the market is the increasing adoption of private air travel. In the global market, the lightweight aircraft has been predominantly used in the fields of personal recreation and instructional use in pilot-training academics. Chartered flights are more preferred by high net worth individuals, as these aircraft offer the flexibility of schedule and also helps passengers avoid the long procedures involved in commercial flights. Light aircraft are increasingly being used to provide services like private tours to selected destinations and are more preferred than helicopters owing to their relative cost-effectiveness while providing a similar or even better level of comfort, safety, and privacy.
This market research report on the global light aircraft market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the advent of electrical VTOL as one of the key emerging trends in the global light aircraft market:
Global light aircraft market: Advent of electrical VTOL
The aviation industry continues to be one of the most carbon-intensive industries and currently lags in the race of electrification, with projections indicating it to consume one-fourth of the world’s carbon budget by 2050. Adoption of the electric propulsion system in aircraft not only reduces carbon footprint but also delivers improved efficiency, safety, and scalability. The design of the aircraft can synergize with its aerodynamic properties to incorporate vertical takeoff and landing feature by ingesting the boundary layer and reducing drag produced at the aircraft’s wake.
“Despite the steady growth of electric-powered light aircraft, the feasibility of using a renewable power-driven light aircraft is still questionable. Lithium batteries used to power the aircraft are prone to catching fire when the aircraft is exposed to harsh environmental conditions,” says a senior analyst at Technavio for research on aviation.
Global light aircraft market: Segmentation analysis
This market research report segments the global light aircraft market by technology (conventional fuel-powered light aircraft and renewable power-driven light aircraft) and geographical regions (APAC, EMEA, and the Americas).
The conventional fuel-powered light aircraft segment held the largest market share in 2017, accounting for nearly 96% of the market. This technology segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of nearly 48% of the market share. The market share occupied by this region is anticipated to decrease during 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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