Insights on the General Aviation Global Market to 2028 – Introduction of Electri… – Press Release

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The “General Aviation Market” report has been added to ResearchAndMarkets.com’s offering.

The global general aviation market is expected to grow from US$ 26,208.00 million in 2021 to US$ 36,461.60 million by 2028; it is estimated to register a CAGR of 4.8% during 2021-2028.

The elevated demand for charter operations across different regions is propelling the general aviation aircraft market growth. However, the requirement for business jets is expected to increase in the coming years due to the persistent surge in charter activities and business travel in the region. In the first quarter of 2021, Embraer delivered another Phenom100EV to an undisclosed Australian customer. Further, with the increasing demand from end-users, the aircraft OEMs are expanding their customer support and service capabilities, which will contribute to the general aviation market growth during the forecast period.

The general aviation market is segmented into components, aircraft, and geography. Based on components, the market is categorized into avionics, airframe, landing gears, engine, and others. In 2020, the engine segment held the largest share of the market. In terms of aircraft, the general aviation market is segmented into fixed-wing and rotary-wing. In 2020, the fixed-wing segment accounted a larger share. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, North America accounted for a significant share in the global market.

During the COVID-19 pandemic, the general aviation industry came to a halt with minimal resources to foresee the future. The US, France, Russia, and China temporarily paused their production units following the government rules concerning lockdown and physical distancing. The aircraft manufacturers witnessed a 14-15% reduction in the general aviation market revenue. During FY 2020, the market research study stated that the…

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