Dublin, Dec. 11, 2024 (GLOBE NEWSWIRE) -- The "Ultralight & Light Aircraft Market by Propulsion (Electric/Hybrid, Conventional), System (Aerostructures, Avionics, Cabin Interiors), Technology (Manned, Unmanned), Flight Operation (CTOL, VTOL), Point of Sale, End Use, Material - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The ultralight and light aircraft market is estimated to be USD 10.17 billion in 2024 and is projected to reach USD 17.29 billion by 2029, at a CAGR of 11.2 % during the forecast period. The aircraft is increasingly being used for recreational flying, such as sightseeing, camping, and fishing. They are also used for transportation, such as personal commuting. Ultralight and light aircraft also affordable to maintain and operate. 
The Asia-Pacific region is expected to account for the second largest market share due to several strong factors, such as high economic growth, rising disposable incomes, and a growing interest in aviation. The more these countries continue to expand their economies, more people and businesses are looking at having affordable air travel options, which boost demand for light aircraft to be used for personal, recreational, and commercial purposes.
In addition, the region's vast geography, comprising many islands and remote areas, presents unique opportunities for light aircraft to provide essential connectivity where traditional transportation options may be limited. Another emerging trend is urban air mobility solutions, including air taxis and cargo drones, gaining traction in densely populated cities, stimulating demand further.
Major players operating in the ultralight and light aircraft market are Cirrus Aircraft (US), Costruzioni Aeronautiche TECNAM S.p.A (Italy), Textron Inc. (US), Pilatus Aircraft (US), Piper Aircraft, Inc. (US), Evektor Aerotechnik (Czech Republic), American Legend Aircraft Co. (US), Thrust Aircraft Private Limited (India), Air Tractor (US), P&M Aviation (India), Quicksilver Aircraft (US), Flight Design General Aviation GmbH (Germany), Aeropro (Canada), Autogyro GmbH (Germany), Vulcanair (Italy), and Honda Aircraft Company (Japan).
A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; agreements, collaborations, new product launches, contracts, expansion, acquisitions, and partnerships associated with the aircraft health monitoring market. Competitive analysis of upcoming startups in the ultralight and light aircraft market ecosystem is covered in this report.
Market Segment Forecasts
- Low-cost operation and maintenance of ultralight aircraft are driving the ultralight and light aircraft market
- Based on flight operation, the CTOL segment accounts for the largest market size during the forecast period
- Based on the system, the aircraft systems segment is projected to grow at the highest CAGR during the forecast period
- Based on technology, the unmanned segment to grow at the highest CAGR during the forecast period
Key Attributes
| Report Attribute | Details |
| No. of Pages | 299 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $10.17 Billion |
| Forecasted Market Value (USD) by 2029 | $17.29 Billion |
| Compound Annual Growth Rate | 11.2% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Low-Cost Operation and Maintenance of Ultralight Aircraft
- Increasing Use of UAVs in Various Military Operations
- Growing Use of Light Aircraft in Aviation Schools
- Rising Demand for Personal and Recreational Flying
- Restraints
- Delay in Aircraft Deliveries
- Safety Considerations for Operation of Ultralight and Light Aircraft
- Opportunities
- Advancements in Traditional Aircraft Propulsion
- Advancements in Passenger Drones and UAV Payload
- Challenges
- Development Costs Outweigh Benefits of Ultralight and Light Aircraft
- Limited Range and Payload of Ultralight Aircraft
Case Study Analysis
- Case Study 1: VTOL Business Jet
- Case Study 2: First Manned Test of ETVOL
- Case Study 3: EVTOL for Agricultural Applications
Additional Insights Covered
- Value Chain Analysis
- Trends/Disruptions Impacting Customer Business
- Ecosystem Analysis
- Technology Trends in Hybrid and Electric Propulsion
- Pricing Analysis
- Trade Analysis, 2019-2023
- Key Conferences and Events, 2025
- Regulatory Landscape
- Key Stakeholders in Buying Process
- Technology Analysis
- Business Models
- Investment and Funding Scenario
- Impact of Generative AI/AI
- Bill of Materials
- Technology Roadmap
- Macroeconomic Outlook
- Technology Analysis
- Impact of Megatrends
- Innovations and Patent Registrations
Companies Profiled in this Ultralight & Light Aircraft Market Report
- Cirrus Aircraft
- Costruzioni Aeronautiche Tecnam S.p.A.
- Textron Inc.
- Pilatus Aircraft
- Piper Aircraft, Inc.
- Evektor Aerotechnik
- American Legend Aircraft Co.
- Thrust Aircraft Private Limited
- Air Tractor
- P&M Aviation
- Quicksilver Aircraft
- Flight Design General Aviation GmbH
- Aeropro
- Autogyro GmbH
- Vulcanair
- Honda Aircraft Company
- Volocopter GmbH
- Lilium GmbH
- Neva Aerospace
- Opener Aero
- Wisk Aero
- Joby Aviation
- Wing Aviation LLC
- Karem Aircraft Inc.
- Lift Aircraft Inc.
- XTI Aircraft
For more information about this report visit https://www.researchandmarkets.com/r/u12cde
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