Piston Engine Aircraft Market -Analysis of Growth, Trends, and Forecast (2018 -2023)
The Global Piston Engine Aircraft Market is expected to register a CAGR of 3.44% during the forecast period of 2018–2023. The increasing air passenger traffic, driven by the economic development in various countries as well as the declining air travel costs has boosted the piston engine market.
The increasing air passenger traffic coupled with the economic development in various countries, has boosted the piston engine market. In the present scenario, there is a growing demand for fuel-efficient aircraft which will drive the aircraft manufacturers to introduce more budget air carriers, 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 has the largest number of individual users due to the presence of infrastructure (small airfields) required for such airplanes. Such airfields are not present outside North America and Europe and this factor greatly decelerates the demand for piston engine aircraft. India, China as well as Japan are expected to be the greatest contributors to the market in the 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 developing infrastructure, is accelerating in the country. The Middle East & Africa are also expected to witness impressive growth rates and reach double-digit market share in the future.
Key Developments in the Market:
February 2017: Cirrus Aircraft launched G6, the sixth generation of its SR range of single-piston aircraft, with an advanced flight deck and new wingtip lighting to compete unique among aircraft upgrades.
August 2017: Textron Aviation’s Cessna plant and Beechcraft plant noticed an increase of 5% from the second quarter (Q2) 2016 shipments of piston engine aircraft, which accounted for 265 piston airplane shipments in the same period of 2017.
Major Players: Textron Aviation, American Champion, Cirrus Aircraft, Diamond Aircraft, Piper Aircraft, Mahindra Aerospace amongst others.
Reasons to Purchase the Report:
Latest technology trends adopted by the manufacturers in the piston engine aircraft market.
Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
Study on the piston engine type that is expected to dominate the market.
Study on the regions that are expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
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