General Aviation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

General Aviation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global general aviation market size reached US$ 25.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.1 Billion by 2028, exhibiting a growth rate (CAGR) of 3.4% during 2023-2028.

General aviation refers to all aircraft operations other than commercial airlines, military airplanes, and non-scheduled air transport services for remuneration or hire. It includes helicopters, business jets, gliders, piston fixed-wing, and turboprops as standard aircraft. General aviation encompasses wide-ranging activities, including recreational flying, charter operations, cargo flights, civil search and rescue, medical evacuation, flight training, and crop dusting. It offers safety, privacy, higher efficiency, flexible traveling, and on-demand air transportation services. General aviation also assists in saving lives, increasing productivity, promoting tourism, protecting the environment, improving agricultural activities, and helping law enforcement agencies.

General Aviation Market Trends:

The significant growth in the tourism industry across the globe is creating a positive outlook for the market. Moreover, the emerging trends of recreational flying and aerial sports, such as balloons, powered or powerless gliders, air racing, aerobatics, and air shows, are favoring the market growth. In line with this, the increasing consumer expenditure capacity on air travel for medical transportation, sightseeing, charter operations, skydiving, parachute jumping, and self-flown tourism is acting as another growth-inducing factor. Apart from this, the increasing demand for private flying operations, such as charter flights, corporate jets, and very important person (VIP) transportation, is providing a considerable boost to market growth. Additionally, the introduction of all-electric and hybrid aircraft to reduce aviation emissions and offer a cost-effective and quieter flying experience is providing an impetus to market growth. Moreover, the rising demand for piston fixed-wing aircraft among pilot training institutes, private aviation, and aircraft racers due to their ability to conduct low altitude and moderate speed flights is positively influencing the market growth. Other factors, including increasing investments in research and development (R&D) projects, the rapid proliferation of flying taxi and air ambulance services, and the implementation of various government initiatives to enhance the security of aircraft components and rescue emission activities, are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global general aviation market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product and application.

Breakup by Product:

Helicopters
Piston Fixed-wing Aircraft
Turboprop Aircraft
Business Jet

Breakup by Application:

Commercial
Non-Commercial

Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Airbus SE, Bombardier Inc., Dassault Aviation SA., Eclipse Aerospace Inc. (One Aviation Corporation), Honda Aircraft Company (Honda Motor Co. Ltd), Lockheed Martin, Pilatus Aircraft Ltd, Piper Aircraft Inc., Textron Aviation Inc. and The Boeing Company.

Key Questions Answered in This Report:

How has the global general aviation market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global general aviation market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global general aviation market and who are the key players?
What is the degree of competition in the industry?