Global NEWS: Ultralight and Light Aircraft Market Aircraft Type (Ultralight and Light Aircraft), End Use (Civil & Commercial and Military), Flight Operation (CTOL and VTOL), Technology (Manned and Unmanned), Propulsion, Material, and Region - Global Forecast to 2030 [155 Pages Report] The ultralight and light aircraft market is estimated at USD 7.1 billion in 2018 and is projected to reach USD 13.9 billion by 2030, at a CAGR of 5.80% from 2018 to 2030. Factors expected to fuel the growth of the ultralight and light aircraft market include the increasing demand for recreational flights and deliveries of Unmanned Aerial Vehicles (UAVs). The global deliveries of ultralight and light aircraft are increasing due to the demand for air taxi and urban air mobility. Download PDF: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=181448279 By aircraft type, the ultralight aircraft segment is expected to grow at the highest CAGR during the forecast period Based on aircraft type, the ultralight aircraft segment of the ultralight and light aircraft market is projected to grow at the highest CAGR during the forecast period, as these aircraft are used for various air taxi services and chartered flights, which is driving the growth of these aircraft deliveries worldwide. However, rise in the demand for ultralight aircraft in urban air transport is driving the growth of ultralight aircraft market. There is a growing demand for passenger drones and Unmanned Aerial Vehicles (UAVs) in the ultralight and light aircraft market across the globe. The trend is highly evident in developed economies, wherein funds raised by technology developers are driving the growth of this market. Civil & commercial end use segment expected to grow at the higher CAGR in the ultralight and light aircraft market during the forecast period Based on end use, the ultralight and light aircraft market has been segmented into civil & commercial and military. The civil & commercial segment has been further studied for various applications, such as personal & passenger, commercial cargo, training, agriculture, survey & research, medical, and others, whereas, the military segment has been further studied for search & rescue, cargo, training, and other applications. Most developed countries, such as the US, the UK, and countries in Western Europe are framing new infrastructural policies to emphasize urban air mobility initiatives, which are projected to drive the market for civil & commercial applications. Whereas, commercialization of this technology is likely to take place in the Asia Pacific region during the forecast period.
ultralight and light aircraft market: Players & Forecast Analysis till 2023
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