What is the global market size of General Aviation Market?

Global General Aviation Market size was valued at USD 26208 million in 2021 and is poised to grow from USD 27465.98 million in 2022 to USD 41883.86 million by 2030, growing at a CAGR of 4.8% in the forecast period (2023-2030).

What is the key market trend for Global General Aviation Market?

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 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 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.

General Aviation Market Report Snapshots

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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).

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. '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)'

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.

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 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.

In 2021, North America dominated the 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.

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General Aviation Market Size, Share, Growth Analysis, By Type(Helicopters, Piston Fixed-wing Aircraft, Turboprop Aircraft, Business Jets), By Region - Industry Forecast 2024-2031

General Aviation Market Regional Insights

General Aviation Market Report Snapshots

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