(EMAILWIRE.COM, February 03, 2020 ) According to the latest market research report "Ultralight and Light Aircraft Market Aircraft Type (Ultralight and Light Aircraft), End Use (Civil & Commercial and Military), Flight Operation (CTOL and VTOL), Technology (Manned and Unmanned), Propulsion, Material, and Region - Global Forecast to 2030", published by MarketsandMarkets™, the Ultralight And Light Aircraft Market is estimated at USD 7.1 billion in 2018 and is projected to reach USD 13.9 billion by 2030, at a CAGR of 5.80% from 2018 to 2030. Factors such as the increasing demand for Unmanned Aerial Vehicles (UAVs) across the globe and increasing global deliveries of ultralight and light aircraft supported by the demand for air taxi and urban air mobility are leading to the growth of the market. However, risks associated with passenger safety and restrictions on flying commercial drones are limiting the overall growth of the market.

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The ultralight aircraft type segment is projected to grow at a higher CAGR in the ultralight and light aircraft market during the forecast period

Based on aircraft type, the ultralight aircraft type segment is expected to lead the ultralight and light aircraft market during the forecast period. This segment considers the growth potential of the disruptive technologies, such as passenger drones, E-VTOL, hybrid, and electric aircraft which are expected to drive the market during the forecast period.

The civil & commercial end use segment of the ultralight and light aircraft market is expected to grow at the highest CAGR during the forecast period

Based on end use, the civil & commercial segment of the ultralight and light aircraft market is expected to grow at the highest CAGR during the forecast period. Increase in demand for urban air mobility and increase in the funds raised by technology developers for civil & commercial applications, such as passenger drones and E-VTOL are projected to drive market growth during the forecast period. Also, increase in deliveries of conventional aircraft for civil & commercial applications, such as medical, business transport, and recreational flights are projected to drive market growth during the forecast period.

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Asia Pacific is expected to be fastest-growing market for ultralight and light aircraft

Asia Pacific is projected to lead the ultralight and light aircraft market during the forecast period. Growth of this market is supported by new infrastructure devolvement for urban air mobility, thereby providing various opportunities for ultralight and light aircraft manufacturers in the region.

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Major players in the ultralight and light aircraft market include Aeropro (Slovakia), American Legend Aircraft (US), Autogyro (Germany), Cirrus Aircraft (US) Costruzioni Aeronautiche TECNAM (Italy), Evektor-Aerotechnik (Czech Republic), Flight Design General Aviation (German), P&M Aviation (UK), Pilatus (Switzerland), Piper Aircraft (US), Pipistrel (Slovenia), Quicksilver Aircraft (US), Textron (US), and Vulcan Air (Italy), among others.