Global ultralight aircraft market projected to reach $18.17 billion by 2031 with CAGR of 9.6%.

From GlobeNewswire: 2024-07-11 04:30:00

The global Ultralight Aircraft Market is projected to reach USD 9.54 Bn in 2024 with a CAGR of 9.6% till 2031, driven by the surge in recreational aviating activities. The market is witnessing trends like lightweight designs for pilots and use of composite materials to strengthen airframes. Recreational applications segment will see significant growth due to increasing disposable incomes and air sports popularity in developing nations. In the defense sector, ultralight aircraft are gaining traction for missions requiring vertical take-off, surveillance, and border patrolling. North America is expected to dominate the market due to robust air sports participation and strong defense infrastructure in the US. Key players in the market include Aeropro s.r.o, Cub Crafters, Inc., and Flight Design GmbH, focusing on new product launches and expanding in emerging markets. In January 2023, Pipistrel unveiled the Nuuva V300, an autonomous cargo drone, showcasing their commitment to advancing sustainable aviation solutions.



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