General Aviation Market: Current Analysis and Forecast (2022-2028)

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Global General Aviation Market is expected to grow at a significant rate of around 4% during the forecast period. General aviation is called all civil aviation aircraft operations, slightly different than scheduled airline services which include helicopters, business jets, and other classes of aircraft. General aviation flights are conducted for business and public services that require more flexibility and comfort than what they generally get from the airline industry. Moreover, the global demand for the general aviation market is followed by the increasing tourism, import and export of goods, business tours, emergency purposes and technological advancements are driving the growth of the market. Moreover, the market players are working to expand their ultramodern and high-technology general aviation aircraft. For instance, In October 2021, Gulfstream Aerospace Corporation introduced the Gulfstream G800 and G400 to expand its ultramodern, high-technology family of general aviation aircraft.

ATR, Textron Inc., Airbus, Boeing, Embraer, Bombardier, PILATUS AIRCRAFT LTD, Dassault Aviation, Gulfstream Aerospace Corporation, and CIRRUS DESIGN CORPORATION. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst aircraft type, business jets category to witness the fastest growth during the forecast period”

Based on type, the market is segmented into helicopters, piston fixed-wing aircraft, turboprop aircraft, and business jets. The business jets category is to witness the fastest growth during the forecast period. The factors such as growing HNWIs and UHNWIs, growing business trips and Consumer spending on air travel for medical transportation, charter operations, and VIP transportation are driving the growth of the market.

“Amongst end-users, the non-commercial to hold a significant share in the market in 2020”

Based on end-users, the market is categorized into commercial and non-commercial. Among these, the non-commercial to hold a significant share in the market in 2020. is expected to drive the industry at an exponential rate during the forecast period. This is mainly due to the increasing disposable income of individuals; luxury living is the major factor driving the growth of the market.

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“APAC to hold a substantial CAGR in the market”

For a better understanding of the market adoption of the General aviation industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. The middle-class population’s shift in lifestyle and increased disposable income are anticipated to drive market expansion. In addition, advancements in technology are likely to accelerate market expansion and enable market leaders to increase their share of the market. The market is likely to be bolstered by increased spending and investments in leisure pursuits like travel and tourism, which will increase air travel and contribute to the market’s expansion. Futhermore, the production of all-electric aircraft to reduce aviation emissions in the coming years is likely to benefit the market.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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Customization Options:

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Research Methodology

Research Methodology for the General Aviation Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global general aviation market were the three major steps undertaken to create and analyze the adoption of general aviation in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global general aviation market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the general aviation market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the general aviation market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, drive type, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the general aviation market. Further, we conducted factor analysis using dependent and independent variables such as various aircraft type and end-users of general aviation. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the general aviation market sector across the globe.

 Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global general aviation market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

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Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the general aviation market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global general aviation market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global general aviation market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of aircraft and end-users in the global general aviation market.

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The main objective of the Global General Aviation Market Study

The current & future market trends of the global general aviation market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the general aviation market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of aircraft and end-u
• Define and analysis of the regulatory framework for the general aviation
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the general aviation market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the general aviation market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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