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Global Piston Aircraft Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028
The Global Piston Aircraft Market is projected to register a CAGR of 4.46%. Key Highlights. Largest Market by Region - North America : The United States is the major contributor to the growth of the regional market due to its increased procurement of piston aircraft across notable sectors.
New York, Jan. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Piston Aircraft Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381500/?utm_source=GNW
Fastest-growing Market by Region - Middle East and Africa : The adoption rate of piston fixed-wing aircraft is high due to its increasing need to meet the training requirements of future pilots across countries worldwide.
Largest Market by Country - United States : Increasing usage of piston fixed-wing aircraft in flight training academies and various other sectors is one of the major factors driving the US market.
Key Market Trends
North America is the largest segment by Region.
Pilot training institutes majorly procure these aircraft because of their added advantages in providing training for the pilots. They are appropriate for flying at low altitudes and moderate speeds and are well-liked by pilot training facilities worldwide due to their natural mobility.
Over the next 20 years, 7,63,000 new civil aviation pilots will be required to operate and maintain the world fleet. Agricultural applications, such as aerial application of pesticides or fertilizers and hydro-seeding, have also aided the procurement of piston aircraft.
The piston fixed-wing aircraft had a share of around 35% of the overall general aviation aircraft delivered in the country during 2016-2021. Currently, the North American region is dominating the market.
Between 2016 and 2021, North America accounted for over 66% of all piston fixed-wing aircraft deliveries worldwide, and it will be accountable for almost 69% of all piston fixed-wing aircraft deliveries globally between 2022 and 2028. The region is anticipated to register the highest growth rate during the forecast period.
Following North America, the Asia-Pacific region is anticipated to register the highest growth rate during the forecast period. As of 2021, there were 356 aviation training facilities operating 2,931 fixed-wing aircraft across the Asia-Pacific region. The region will account for almost 15% of all piston fixed-wing aircraft deliveries globally between 2022 and 2028.
Competitive Landscape
The Global Piston Aircraft Market is fairly consolidated, with the top five companies occupying 93.32%. The major players in this market are Cirrus Design Corporation, Diamond Aircraft, Piper Aircraft Inc., Tecnam Aircraft and Textron Inc. (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06381500/?utm_source=GNW
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