|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The General Aviation Market was valued at USD 19.91 billion in 2020 and is projected to reach USD 24 billion by 2026, registering a CAGR of about 3% during the forecast period (2021 - 2026).
The COVID-19 pandemic has affected on general aviation market in the short term as the orders and deliveries have witnessed a decline in 2020. However, due to the increased operations of the helicopters and business jets for the transport of patients, charter operations, and VIP transportation among others, the plans for fleet modernization have been unaffected in the long term. This is expected to enhance the growth of the general aviation market in the coming years.
Due to the growth in high-net-worth individuals and ultra-high-net-worth individuals globally, there has been an increase in demand for private travel, subsequently driving the procurement of helicopters and business jets with enhanced cabin interiors.
Also, with the growth in tourism sector in various regions, many charter operators and tourism companies are making plans expand their fleet with introduction of new piston engine aircraft, turboprop aircraft, helicopters and further expand their presence.
The growing concern over aviation emission has shifted the focus of manufacturers toward the development of all-electric aircraft. New electric aircraft models are being developed to be used as a flying taxi. The growth of flying taxis is expected to increase the demand for the general aviation market in the future.
Scope of the Report
General aviation comprises all civil flights except scheduled passenger airline services. The report includes private aircraft, sports aircraft, training aircraft, and agricultural aircraft. Based on the aircraft type, the market is segmented into helicopters, piston fixed-wing aircraft, turboprop aircraft, and business jets. The report also covers the market sizes and forecasts for the general aviation market in major countries across different regions. The market sizing and forecasts have been provided in value (USD billion).
|Piston Fixed-wing Aircraft|
Key Market Trends
Pilot Training Institutes are Driving the Growth of the Piston Fixed-wing Aircraft Segment
Piston fixed-wing aircraft are suitable for conducting moderate speed low altitude fights, and due to their inherent maneuver characteristics, they are popular amongst the pilot training institutes across the world. Thus, most of the orders for piston fixed-wing aircraft are from pilot training institutes, while a handful of them are purchased by private aviation enthusiasts and aircraft racers. For instance, in July 2019, the US-based ATP Flight School announced a procurement order for 100 Cessna 172 Skyhawk aircraft at the 2019 Experimental Aircraft Association (EAA) AirVenture show held in Oshkosh, Wisconsin. Deliveries are scheduled for completion by the end of 2023. Similarly, as of December 2019, Airways Aviation, a European pilot training institute announced its plans to increase its operating fleet size by 22 aircraft by 2023. The piston fixed-wing segment of the general aviation market is dominated by Cirrus Design Corporation, Piper Aircraft Inc., and Diamond Aircraft Industries. To further increase their market share globally, the companies robustly investing in the development and procurement of all-electric aircraft. In this regard, in June 2020, Velis Electro of Pipistrelreceived the European Union Aviation Safety Agency (EASA) certification. The aircraft became the first-ever fully electric aircraft to receive its type certification. Such developments towards emission-free piston engine aircraft is expected to accelerate the growth of the segment during the forecast period.
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North America region Currently Dominates the Market
North America region currently has the highest share in the market and is expected to continue its dominance during the forecast period. The region holds the largest operating general aviation aircraft fleet in the world with the United States accounting for the majority of its share. The growth of the general aviation market in the region is driven by the existence of mature aviation infrastructure, wherein an estimated 65% of the annual general aviation flights conducted are for business and public services. In the United States, more than 90% of the registered civil aircraft are general aviation aircraft, and around 487,200 US-certified pilots operate general aviation aircraft. The general aviation industry contributes over USD 150 billion to the US economy, annually. According to National Agricultural Aviation Association, the agricultural aviation operations have grown by more than 15% during the period of 2012 – 2019. In addition to the growth in demand for fixed-wing aircraft, the demand for civil helicopters is also witnessing growth due to helicopter service (such as air taxis, air ambulance, etc.) in the region. Furthermore, the increasing investments of the aerospace companies towards the introduction of urban air mobility in the North American air space are expected to rapidly strengthen the growth of the general aviation market in the region during the forecast period.
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The general aviation market is slightly fragmented with many players in the market that provide helicopters, business jets, piston-engine aircraft, and turboprop aircraft for their customers. However, in terms of market share, Bombardier Inc., Textron Inc., Gulfstream Aerospace Corporation, Embraer SA, and Dassault Aviation SA are some of the prominent players in the market. To further increase their presence in the market, the companies are developing new advanced aircraft models that have relatively lower weight and better fuel efficiencies. In October 2020, Airbus Corporate Jets launched the ACJ TwoTwenty business jet, an extra-large business jet that meets the requirement for a heavy and long-range business jet. The new business jet is based on A220 Family with about three times more cabin space with approximately third less operating costs. It is also equipped with two times better connectivity Wi-Fi systems, and electro-chromatic windows, and LED lighting. Similarly, in October 2020, Embraer announced its plan to design, develop and manufacture a new turboprop aircraft with larger cabin space compared to traditional turboprop aircraft with low noise and vibration and have a low-wing design as well as a T-tail. The company plans to induct the new turboprop aircraft by 2027. Such innovations are expected to attract new potential customers, which in turn would help the aircraft OEMs to increase their share in the market in the coming years.
- In December 2020, Bombardier received an order for 10 Challenger 350 aircraft from an undisclosed customer. The order was worth USD 267 million.
- In June 2020, Airbus received an order from Papillon Helicopters to acquire five AS350 B3e helicopters with an option for additional three helicopters. The procurement of new helicopters is a part of the company’s fleet modernization initiatives to replace their aging helicopters.
- In June 2020, the US Civil Air Patrol (CAP) selected Textron Aviation to provide 17 Cessna piston engine aircraft. Under the agreement, the company will provide 11 Skyhawk 172S, five Skylane 182T, and one Turbo Stationair HD T206HD aircraft.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD billion)
5.1 Aircraft Type
5.1.2 Piston Fixed-wing Aircraft
5.1.3 Turboprop Aircraft
5.1.4 Business Jets
5.2.1 North America
188.8.131.52 United States (By Aircraft Type)
184.108.40.206 Canada (By Aircraft Type)
220.127.116.11 United Kingdom (By Aircraft Type)
18.104.22.168 France (By Aircraft Type)
22.214.171.124 Germany (By Aircraft Type)
126.96.36.199 Rest of Europe (By Aircraft Type)
188.8.131.52 China (By Aircraft Type)
184.108.40.206 India (By Aircraft Type)
220.127.116.11 Japan (By Aircraft Type)
18.104.22.168 South Korea (By Aircraft Type)
22.214.171.124 Rest of Asia-Pacific (By Aircraft Type)
5.2.4 Latin America
126.96.36.199 Brazil (By Aircraft Type)
188.8.131.52 Mexico (By Aircraft Type)
184.108.40.206 Rest of Latin America (By Aircraft Type)
5.2.5 Middle-East and Africa
220.127.116.11 Saudi Arabia (By Aircraft Type)
18.104.22.168 United Arab Emirates (By Aircraft Type)
22.214.171.124 South Africa (By Aircraft Type)
126.96.36.199 Rest of Middle-East and Africa (By Aircraft Type)
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Airbus SE
6.2.2 The Boeing Company
6.2.3 Bombardier Inc.
6.2.4 Dassault Aviation SA
6.2.5 Embraer SA
6.2.6 Gulfstream Aerospace Corporation
6.2.7 Textron Inc.
6.2.8 Honda Aircraft Company
6.2.9 Cirrus Design Corporation
6.2.10 Pilatus Aircraft Ltd
6.2.11 Diamond Aircraft Industries
6.2.12 Piper Aircraft Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The General Aviation Market market is studied from 2018 - 2026.
What is the growth rate of General Aviation Market?
The General Aviation Market is growing at a CAGR of <3% over the next 5 years.
What is General Aviation Market size in 2018?
The General Aviation Market is valued at 20 Billion USD in 2018.
What is General Aviation Market size in 2026?
The General Aviation Market is valued at 24 Billion USD in 2026.
Which region has highest growth rate in General Aviation Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in General Aviation Market?
North America holds highest share in 2020.
Who are the key players in General Aviation Market?
Bombardier Inc., Dassault Aviation SA, Embraer SA, Airbus SE, Textron Inc. are the major companies operating in General Aviation Market.