Westford, USA, Aug. 03, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the general aviation market is playing a pivotal role in driving economic growth and creating new opportunities. This positive trajectory is expected to persist with the development of supersonic and electrically powered commercial aircraft. As technological advancements shape the future of aviation, the industry must prioritize innovation for efficiency, performance, and safety.
Browse in-depth TOC on the "General Aviation Market"
- Pages - 189
- Tables - 37
- Figures – 66
The flourishing tourism sector in different regions has triggered an optimistic outlook for charter operators and tourism companies, leading to ambitious expansion plans for their fleets. The increasing demand for travel and tourism experiences has prompted these companies to invest in new aircraft types, including piston-engine aircraft, turboprop aircraft, and helicopters, in the general aviation market.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 27465.98 Million |
| 2030 Value Projection | USD 41883.86 Million |
| CAGR | 4.8% |
| Forecast Period | 2023-2030 |
| Segments | Type: Helicopters, Piston Fixed-wing Aircraft, Turboprop Aircraft, and Business Jets |
| Regions Covered |
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Prominent Players in the General Aviation Market
- ATR Aircraft
- Textron
- Airbus
- Boeing
- Embraer
- Bombardier
- Pilatus Aircraft
- One Aviation
- Gulfstream Aerospace
- Cirrus Aircraft
- Lockheed Martin
- Dassault Aviation
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Piston Fixed-Wing Aircraft Segment is Expected to Grow in the Market Due to Various Training Purposes
Piston fixed-wing aircraft segment are designed for low-altitude, moderate-speed flights, making them ideal for various training purposes in the general aviation market. Consequently, most orders for piston fixed-wing aircraft come from pilot training institutes and flight schools. These aircraft offer an excellent platform for aspiring pilots to hone their skills and gain practical experience, as they are well-suited for primary flight training and maneuvers.
The markets in Europe has been a notable surge in the adoption of private jets for intra-region travel, particularly among high net worth individuals (HNWIs) in the general aviation market. This trend has been driven by the disruptions faced by commercial airlines, leading to frequent cancellations of intra-region flights due to staffing shortages.
Fixed-Wing Aircraft Segment is Expected to Dominate the Market Due to Diverse Range of Applications and Industries
Fixed-wing aircraft segment is pivotal and prominent in the general aviation market. These aircraft have stationary wings that generate lift, allowing them to achieve stable and sustained flight.
Regional markets in North America stand as a dominant strength in the general aviation market, boasting the largest market share. This position is projected to persist throughout the forecast period. One of the key factors driving this prominence is the region's possession of the world's largest operating general aviation aircraft fleet.
A comprehensive analysis of the major players in the general aviation market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the General Aviation Market
- In 2022, the UK's Competition and Markets Authority (CMA) made a significant ruling pertaining to CHC's acquisition of Babcock International's offshore oil-and-gas aviation business, which had taken place the previous year. The CMA concluded that the acquisition was anti-competitive and ordered CHC to divest the acquired business. This decision aimed to address concerns about potential monopolistic practices and promote fair competition within the offshore oil-and-gas aviation sector in the UK.
- ATR made an exciting announcement in 2022. The company stated that the partially configured short takeoff and landing (STOL) variant of its ATR 42-600 turboprop had completed its maiden flight. The aircraft took off from Francazal Airport in Cugnaux, France, at 10 a.m. and conducted a flight lasting 2 hours and 15 minutes.
Key Questions Answered in General Aviation Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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Helicopters, Piston Fixed-wing Aircraft
