USD 26208 million
General Aviation Market Size, Share, Growth Analysis, By Type(Helicopters, Piston Fixed-wing Aircraft, Turboprop Aircraft, Business Jets), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20A2194 |
Region:
Global |
Published Date: April, 2024
Pages:
189
|Tables:
37
|Figures:
66
General Aviation Market Insights
Global General Aviation Market size was valued at USD 26208 million in 2019 and is poised to grow from USD 27465.98 million in 2023 to USD 41883.86 million by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).
General aviation includes all aircraft that are not military or scheduled commercial carriers. The COVID-19 outbreak has had a short-term impact for general aviation, with total orders and deliveries falling in 2019 and 2021. However, increasing the use of helicopters and business jets for patient transport, charter operations, and VIP transportation, among other things, has had minimal impact on fleet modernization plans in the long run.
This is expected to promote the growth of the general aviation industry in the coming years. The need for private transportation has increased as the number of high-net-worth individuals and ultra-high-net-worth individuals has increased worldwide, resulting in the acquisition of helicopters and business jets with enhanced cabin interiors.
US General Aviation Market is poised to grow at a sustainable CAGR for the next forcast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Piston Fixed-wing Aircraft
Fastest Growth
Piston Fixed-wing Aircraft
Growth Rate
4.8% CAGR
Global General Aviation Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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General Aviation Market Segmental Analysis
General Aviation Market segmentation is based on Type and Region. Based on the Type, the Global General Aviation Market is segmented as Helicopters, Piston Fixed-wing Aircraft, Turboprop Aircraft, and Business Jets. Based on Region General Aviation Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
General Aviation Market Analysis by Type
In 2021, fixed-wing aircraft dominated the global general aviation market. During the COVID-19 outbreak, the general aviation sector came to a halt, with little means to foresee the future. According to government requirements involving lockout and physical separation, the United States, France, Russia, and China temporarily suspended manufacturing units. The general aviation market's revenue was lowered by 15% for aircraft manufacturers. The impact of the COVID-19 epidemic, according to market research, resulted in a reduction in the global market value in FY 2020.
Global General Aviation Market By Type, 2021 (%)
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General Aviation Market Regional Insights
In 2021, North America dominated the global general aviation market and is expected to do so throughout the forecast period. The region is home to the world's largest operational general aviation aircraft fleet, with the United States accounting for the majority of it. Because of the region's developed aviation infrastructure, the general aviation industry is growing, with an estimated 65% of yearly general aviation flights being for commercial and public purposes.
Global General Aviation Market By Geography, 2021-2028
- Largest
- Fastest
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General Aviation Market Dynamics
General Aviation Market Driver
- In the United States, the general aviation sector is generating economic growth and opportunity, and this trend will continue when supersonic and electrically powered commercial aircraft begin development. The aviation industry must continue to innovate in order to improve safety while simultaneously focusing on workforce development by marketing the fantastic job prospects available in general aviation to young people.
- Consumer spending on air travel for medical transportation, charter operations, and VIP transportation drives the global industry for general aviation. Furthermore, the changing lifestyles of the middle-class population and increased disposable income are projected to boost market growth. Furthermore, technological advancements will almost certainly hasten market expansion and assist industry leaders in expanding their market share. Furthermore, increased spending and investment in leisure activities such as travel and tourism, which would supplement air travel and hence contribute to market development, are predicted to help the business. Furthermore, the industry is likely to benefit in the next years from the manufacturing of all-electric aircraft to reduce aviation emissions.
General Aviation Market Restraint
- Aviation fuel availability and pricing have been major economic elements affecting the airline industry for nearly three decades. High jet fuel prices have a direct impact on the airline's financial position. As the number of airline enterprises rose year after year, fuel prices were at an all-time high, creating a vicious circle. Because alternative fuels haven't made much of an impact, maintaining fuel economy is a primary priority for the aviation sector.
- The state of the global economy is one of the airline industry's major challenges. The financial crisis of 2008, for example, had a devastating impact on the aviation industry's size. Travel and fuel prices are rising as the global economy deteriorates, while passenger numbers are declining. The impact of the recession on the tourist industry is one of the key economic variables influencing the aviation industry.
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General Aviation Market Competitive Landscape
The general aviation industry is fragmented, with several competitors offering helicopters, business jets, piston-engine aircraft, and turboprop aircraft to clients. However, in terms of market share Airbus SE, Textron Inc., Bombardier Inc., Embraer SA, and Dassault Aviation SA are among the market's most notable companies. To expand their market position, the businesses are creating more sophisticated aircraft types with reduced weight and higher fuel efficiency.
General Aviation Market Top Players Company Profiles
- ATR Aircraft (France)
- Textron (US)
- Airbus (France)
- Boeing (US)
- Embraer (Brazil)
- Bombardier (Canada)
- Pilatus Aircraft (Switzerland)
- One Aviation (US)
- Gulfstream Aerospace (US)
- Cirrus Aircraft (US)
- Lockheed Martin (US)
- Dassault Aviation (France)
General Aviation Market Recent Developments
- In June 2022, The UK’s Competition and Markets Authority (CMA) ruled that CHC’s acquisition of Babcock International’s offshore oil-and-gas aviation business last year is anti-competitive and has ordered CHC to divest it.
- In May 2022, ATR announced in a statement that the partially configured short takeoff and landing (STOL) variant of its ATR 42-600 turboprop flew for the first time. The flight left Francazal Airport in Cugnaux, France, at 10 a.m. and took 2 hours and 15 minutes.
- In February 2022, Thrive Aviation, a private-charter owner/operator, placed an order for its first Gulfstream, a Gulfstream G600. The aircraft is scheduled to be delivered in the summer of 2022.
- In October 2021, Sichuan Longhao Flight Training Co., Ltd. (Longhao Flight Training School) in China has agreed to acquire 20 Cessna Skyhawk piston aircraft from Textron Aviation. The aircraft will be used for pilot training in the southwest and central China, with deliveries beginning in 2022.
General Aviation Key Market Trends
- Owing to the inherent mobility, piston fixed-wing aircraft are suited for low-altitude, moderate-speed flights. As a result, the bulk of orders for piston fixed-wing aircraft originate from pilot training institutes, with only a handful bought by private aviation enthusiasts and aircraft racers. Cirrus Design Corporation, Piper Aircraft Inc., and Diamond Aircraft Industries dominate the piston fixed-wing segment of the general aviation business. To increase their global market share, firms are actively spending in the development and purchase of piston-engine aircraft with updated propulsion technology. The electric motors will be turned on during takeoff and landing. However, as the plane reaches cruising altitude, they will shut down, allowing the piston engine to operate at a 50% better efficiency than traditional jet engines. Such improvements toward environmentally friendly piston engine aircraft are projected to boost market growth over the forecast period.
General Aviation Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global General Aviation Market Analysis, The use of Sustainable Aviation Fuels (SAF) is critical to the industry's Business Aviation Commitment on Climate Change, which strives to achieve carbon-neutral growth beginning in 2021.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 26208 million |
| Market size value in 2031 | USD 41883.86 million |
| Growth Rate | 4.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on General Aviation Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on General Aviation Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the General Aviation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the General Aviation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the General Aviation Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the General Aviation Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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