Published Date : May 15, 2017
ALBANY, New York, May 15, 2017 – MarketResearchReports.biz has recently announced the addition of a report titled, “2017-2022 General Aviation Report on Global and United States Market, Status and Forecast, by Players, Types and Applications” to its offering. The report reveals crucial information pertaining to the major growth drivers, restraints, and developments in the global general aviation market, with a particular emphasis on the general aviation market in the U.S.
As the global economy enlarges and displays greater connectivity, rapid, safe, and accessible transportation is gaining increasing importance. With the recent growth in airline travel recognized as a feature of the modern world, the general aviation market is expected to make significant advancement over the oncoming period.
The term ‘general aviation’ refers to those aircrafts that do not involve commercial air transportation. In other words, the basic aim of general aviation is to conduct essential services for emergency medical purposes, police investigations, and search and rescue operations. Thus, general aviation enhances the safety of citizens via improved productivity of selective public services. It would have been impossible for life and civilization to sustain without the advantages offered by general aviation.
The sheer number of general aviation aircrafts is impressive. Nearly 700,000 pilots are involved in this industry, where more than 350,000 aircrafts are being deployed over the globe. The demand for general aviation is expected to rise over the coming years as the cockpits of general aviation aircrafts are used by every single military pilot and airline in attaining professional competence.
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Moreover, general aviation requires minimal unique infrastructure, ensuring cost efficiency. Also, it is a minority user of all those services and facilities that are needed by larger commercial activities. By type, the global general aviation market can be segmented into two-engine piston, single engine piston, gliders, business jets, and turboprops.
The U.S. accounted for almost half of the global general aviation market in 2014. However, as emerging economies such as China and India have been catching up, a wide expanse of opportunities awaits the market players. On the flip side, stringent regulatory frameworks and inadequate infrastructural growth might inhibit the growth of the global market for general aviation.
A number of market players have been introducing new products in the global general aviation market. For instance, in April 2017, Harlow Aerostructures, a leading supplier of aviation equipment, announced the launch of its first autothrottle, HAT-05 for new aircrafts.
Several new players have also been entering the market. For example, Israel Aerospace Industries (IAI) has been planning to enter the general aviation market. The company is likely to partner with another firm to develop and produce an advanced general aviation aircraft.
Cessna, Airbus, Bell Helicopter, Bombardier, Boeing, CubCrafters, Inc., Gulfstream Aerospace Corporation, DAHER-SOCATA, Piper Aircraft, Inc., Quest Aircraft Company, Flight Design GmbH, Embraer S.A., Dassault Falcon, and Thrush Aircraft Inc. are some leading players operating in the global market for general aviation.
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