Ultralight and Light Aircraft Market worth $13.9 billion by 2030

(I-SoftwareNews.Com, February 08, 2019 ) The ultralight and light aircraft market report provides an analysis of the market from 2018 to 2030. It discusses industry and technology trends prevailing in the market, along with the market drivers, restraints, challenges, and opportunities. The ultralight and light aircraft market is projected to grow from USD 7.1 billion in 2018 to USD 13.9 billion by 2030, at a CAGR of 5.80% from 2018 to 2030. The ultralight and light aircraft market is expected to witness substantial growth during the forecast period, due to the increase in demand for urban air mobility, rapid commercialization of passenger drones, and demand for recreational flights.

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By aircraft type, the ultralight aircraft segment is expected to grow at the higher CAGR during the forecast period. The demand for ultralight aircraft type is higher from commercial and civil applications. Adaptability of the latest technology by civil & commercial end users is expected to drive the growth ultralight aircraft market during the forecast period. Whereas, on the basis of end use segment, the market is divided into civil & commercial and military, which has been further segmented for different applications. Rise in the demand for the personal air mobility by civil aircraft owners is expected to drive the demand for the civil & commercial end use segment during the forecast period.

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Based on technology, the ultralight and light aircraft market is segmented in to unmanned and manned. The unmanned technology segment is expected to grow at the highest CAGR during the forecast period. Rise in demand for unmanned aircraft from the military end use segment and rapid commercialization of the passenger drone technology is expected to drive the overall demand in the ultralight and light aircraft market.

Based on region, the ultralight and light aircraft market has been segmented into 4 regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World. The Asia Pacific ultralight and light aircraft market is projected to grow at the highest CAGR during the forecast period from 2018 to 2030. The ultralight and light aircraft market in the region is expected to witness significant growth due to demand from emerging economies, specifically countries, such as China, Japan, Australia, and India, for the use of unmanned aerial vehicles for civil & commercial applications.

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Ultralight and Light Aircraft Market worth $13.9 billion by 2030