General Aviation Market

Description

Valued at US$ XX in 2017, the general aviation market is expected to register a CAGR of XX% during the period 2017-2022, to reach a global market value of US$ XX by 2022. While global economic slowdown has plummeted the market to rock-bottom levels, emerging markets globally are expected to aid the market’s growth in the near future.

Market Dynamics

Recent times have witnessed a sharp fall in the aviation market’s sales and revenues, and finally rising only slightly in 2015. The fall in the market is attributed to the sudden rise in competition amongst airlines, and the growing popularity of low cost carriers. While such factors have contributed to an improvement in overall passenger traffic trends, they have vastly undermined profits gained by subsidiary organisations that were pillaring the market. While efforts are being made to reverse this, not much growth is expected from sales to airline companies (i.e. commercial airline carriers).

Business jets have been the source of most of the income for the market, accounting for more than half the market share in terms of revenue. Large-cabin jets are the popular choice, owing to their long-range capability.

While business jets make the higher end of the price-charts, affluent classes within poor economies have displayed ample purchasing power and interests towards them, thus ensuring fair stability in this sector of the market at least

While the helicopter market is performing well in countries in the North American and European segments, they remain to be explored as potential avenues in many global economies. Helicopters provide efficient transport with minimal required infrastructure, unlike aeroplanes, which require a proper runway and parking space.

Emerging economies in the Asia-Pacific region, such as China and India, may prove to be leaders in the market sales and revenues should they choose to invest further in helicopters over lighter single/two engine piston aeroplanes

Market Segmentation

The general aviation market is segmented by type into single-engine piston, two-engine piston, turboprop, business jets, and gliders. In terms of revenue, business jets contribute the most, accounting for more than half the market share.

Geographical Analysis

Regionally, the market is segmented Europe, North America, Latin America, Asia-Pacific, and Middle-East and Africa. Amongst these, North America dominates in terms of majority of sales, with USA being the forerunner in the region. Tailing close behind is Europe, thanks to cutting edge research and innovation in aerospace and aeronautics technology.

Key players

Key players in the general aviation market include Boeing, Airbus, Bombardier, Embraer, Gulfstream, Honda, Piper, and Cobalt.