Global Piston Engine Aircraft Market - Analysis of Growth, Trends Progress and Challenges (2018-2023)
Piston Engine Aircraft Market
Piston engine aircraft are lightweight and have one or more piston-powered engines that are connected to the propellers. In 2017, the piston engine aircraft market accounted for USD XX million and is expected to reach USD XX million by 2022, registering a CAGR of 4.23%, during 2017-2022 (the forecast period).
Circus Aircraft, one of the leading players of aircraft engine market, is replacing its piston-engine airplanes with jet aircraft, by launching the first-ever single-engine private jet. The SR22 has been the most selling aircraft, since 2002. The SR22 model accounts for over 30% of the entire piston aircraft market. In 2016, total piston airplanes shipped were 1,019 units, out of which 890 were the single-engine, and 129 were the multi-engine pistons.
The increasing air passenger traffic, driven by the economic development in various countries, has boosted the piston engine market. The trend of piston engine aircraft in the global market is accelerating the demand for fuel-efficient aircraft. These demands are expected to boost the introduction of more budget air carriers among companies, thus accelerating the market growth in the future. Moreover, the sales of piston aircraft are expected to witness a significant boost from the emerging markets, where improving infrastructure will enable people to buy piston engine aircraft.
North America and Europe have the largest number of individual users, due to the presence of infrastructure required for such airplanes. Such small aircraft use small airfields; such airfields are present outside the North America and Europe. Hence, this factor greatly decelerates the demand for piston engine aircraft. India and China are expected to be the greatest contributors to the market in future. In India, particularly, there are extremely few flying general aviation aircraft, due to the extremely strict regulatory environment. However, the demand for aircraft, with the developing infrastructure, is accelerating in the country. Asia-Pacific currently holds just 12% of the piston engine aircraft market, however, is expected to contribute significantly to the market by 2022. The Middle East & Africa is also expected to witness impressive growth rates and reach double-digit market share in the future.
Our Global Piston Engine Aircraft Market Report Covers:
Market trends & dynamics
Latest News & developments
Porter’s five force analysis
Will the demand for piston-engine aircraft increase during the forecast period?
Can Asia dominate the piston-engine market in the near future?
Will Cirrus Aircraft be able to sustain its dominance in the piston-engine aircraft market?
Is the multi-engine piston aircraft market expected to remain competitive?