DUBLIN–(BUSINESS WIRE)–The “General Aviation Market” report has been added to ResearchAndMarkets.com’s offering.
The global general aviation market is expected to grow from US$ 26,208.00 million in 2021 to US$ 36,461.60 million by 2028; it is estimated to register a CAGR of 4.8% during 2021-2028.
The elevated demand for charter operations across different regions is propelling the general aviation aircraft market growth. However, the requirement for business jets is expected to increase in the coming years due to the persistent surge in charter activities and business travel in the region. In the first quarter of 2021, Embraer delivered another Phenom100EV to an undisclosed Australian customer. Further, with the increasing demand from end-users, the aircraft OEMs are expanding their customer support and service capabilities, which will contribute to the general aviation market growth during the forecast period.
The general aviation market is segmented into components, aircraft, and geography. Based on components, the market is categorized into avionics, airframe, landing gears, engine, and others. In 2020, the engine segment held the largest share of the market. In terms of aircraft, the general aviation market is segmented into fixed-wing and rotary-wing. In 2020, the fixed-wing segment accounted a larger share. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for a significant share in the global market.
During the COVID-19 pandemic, the general aviation industry came to a halt with minimal resources to foresee the future. The US, France, Russia, and China temporarily paused their production units following the government rules concerning lockdown and physical distancing. The aircraft manufacturers witnessed a 14-15% reduction in the general aviation market revenue. During FY 2020, the market research study stated that the impact of COVID-19 outbreak led to a downfall in the global market value.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global general aviation market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global general aviation market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
- Increasing Demand for Charter Aviation
- Surge in Demand for Business Jets
- Uncertainty in Orders
- Introduction of Electric Aircraft
- Demand for Electrification and Overhaul Services for Existing Fleet
- Leonardo S.p.A.
- Saab AB
- Dassault Aviation
- PILATUS AIRCRAFT LTD
- Textron Inc.
- Gulfstream Aerospace Corporation
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