Wilmington, Delaware, Nov. 17, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s most recent industry analysis, the Global Very Light Aircraft Market value is estimated at US$ 12.9 billion in 2023 and is expected to rise at a strong CAGR of over 5.8% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
A light aircraft is a tiny, single-engine plane meant for personal or recreational use, flight training, and other non-commercial uses. These aircraft are frequently distinguished by their lightweight, basic design, and restricted passenger capacity. Fixed-wing aeroplanes, helicopters, and gyrocopters are all examples of light aircraft.
As economies grow and disposable incomes rise, so does interest in recreational pursuits such as flight. Emerging markets with a growing middle class help to drive the growth of the light aircraft market. Continuous innovation in light aircraft design and production adds to enhanced safety, fuel efficiency, and performance. This innovation draws new customers and contributes to the market's overall growth.
According to a deep-dive market assessment by RationalStat, the global very light aircraft market has been analyzed on the basis of market segments, including type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global very light aircraft market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global very light aircraft market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Very Light Aircraft Market: Segmental and Market Share Analysis
- On the basis of application, civil and commercial segment is anticipated to dominate the global very light aircraft market. As it provides essential services for people and businesses, connecting cities and countries across the globe.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 12.9 billion |
| Market Size Forecast | US$ 19.2 billion |
| Growth Rate | 5.8% |
| Dominant Segment | Civil and commercial |
| Dominant Region | Asia Pacific |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global Very Light Aircraft market include.
- In February 2023, Tata Sons signed a letter of intent to purchase 250 planes from European manufacturer Airbus. Air India intended to grow its fleet and global network over the following five years, with the goal of increasing its market share to 30% on both domestic and international routes from India.
Some of the prominent players and suppliers operating and contributing significantly to the global Very Light Aircraft market growth include Cirrus Aircraft, Vulcanair, Legend Aero, P&M Aviation, Evektor, VOLOCOPTER GMBH, Textron Inc., Pipistrel, Pilatus Aircraft Ltd., and AutoGyro, among others.
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RationalStat has segmented the global Very Light Aircraft market based on type, application and region
- Global Very Light Aircraft Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Manned
- Unmanned
- Global Very Light Aircraft Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Civil and Commercial
- Military
- Global Very Light Aircraft Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Very Light Aircraft Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Country
- US
- Canada
- Latin America Very Light Aircraft Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Very Light Aircraft Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Very Light Aircraft Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Very Light Aircraft Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Very Light Aircraft Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Very Light Aircraft Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Country
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Key Questions Answered in the Very Light Aircraft Report:
- What will be the market value of the global Very Light Aircraft market by 2030?
- What is the market size of the global Very Light Aircraft market?
- What are the market drivers of the global Very Light Aircraft market?
- What are the key trends in the global Very Light Aircraft market?
- Which is the leading region in the global Very Light Aircraft market?
- What are the major companies operating in the global Very Light Aircraft market?
- What are the market shares by key segments in the global Very Light Aircraft market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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