Global Piston Engine Aircrafts Market Share Is Likely To Reach At A CAGR Value Of Around 4.31% By 2028

30-Sep-2022 | Facts and Factors

According to Facts and Factors, the global piston engine aircrafts market size was worth around USD 0.87 billion in 2021 and is predicted to grow to around USD 1.15 billion by 2028 with a compound annual growth rate (CAGR) of roughly 4.31% between 2022 and 2028.

Global Piston Engine Aircrafts Market Size

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Piston engine aircrafts consist of an engine powered by a piston which in turn is connected to a propeller that provides the necessary thrust to the aircraft to make it move away from the ground in travel through the air. Generally, piston engine aircrafts use low-leaded fuel of 100 octanes and do not fly above the altitude of 15,000 feet. Since piston-powered aircrafts are categorized as low-weight aircraft, a typical plane consists of a seating arrangement for 1 to 6 passengers similar to the design of a car. If such an aircraft is being used for business purposes, the maximum covered distance lies between 300 to 400 miles, and use small commercial airports that lack traffic control towers. Piston engine aircrafts are used mostly for commercial, training purposes and in some cases for agricultural activities like hydro-seeding, pesticide or fertilizer spraying, rescue operations, and others. Many training institutes for beginners use piston engine aircrafts since they are relatively easy to maneuver and do not include exceptionally high-tech technology to operate the machine, thus best-suiting beginning levels of training.

Browse the full “Piston Engine Aircrafts Market Size, Share, Growth Analysis Report By Maximum Take-Off Weight (Below 1000 Kg, Between 10,00 to 20,00 Kg, and Above 2,000 Kg), By Type (Single-Engine, and Multi-Engine), By Application (Commercial, and Military), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/piston-engine-aircrafts-market

The global piston engine aircrafts market size witnessed losses during the pandemic since the demand for piston engine aircrafts was relatively lower. Training institutes were inspirational, and the aviation industry in general suffered heavy losses. Some aircrafts were used for rescue operations, and to provide medical essentials covering shorter durations, but the revenue remained relatively low during 2020. However, by 2021, the global market cap picked up the pace and is projected to continue the expansion trend in the coming years.

The global piston engine aircrafts market is projected to grow owing to the increasing technological growth and investment in the aviation industry. Since aircrafts that are piston-powered can travel at low altitudes, they are best suited for surveying land areas in case of agricultural or rescue requirements. In recent times, such utilization has grown multifold owing to the increasing number of natural calamities. During search and rescue operations, both commercial and military-grade aircrafts are used. Aerial assistance is of utmost importance in critical cases where surveying the landscape on the ground becomes impossible. The global market growth may also be propelled by the increasing number of people interested in learning to pilot an aircraft with piston engine airplanes becoming a new favorite. The growing number of private aviation-related educational institutes leads to higher accessibility which further aids the increase in demand for low-weight aircrafts. One of the most popular personal aircrafts is the Cirrus SF50 Vision Jet owing to its compactness as well as affordability. In the 3rd quarter of 2021, the company announced that it had sold over 47 SF50 jets for personal use.

Although increasing cases of engine failure may restrict the global market growth, more opportunities can be expected due to the growing number of economic aircrafts while there may also be certain challenges because of stringent laws regulating engine efficiency.

The global piston engine aircrafts market is segmented by type, maximum take-off weight, application, and region.

Based on type, the global market is single engine and multi-engine. The former leads the global market segment driven by rising applications for agricultural and training purposes. For instance Cessna 172, a single-engine plane can carry up to 2,550 pounds of weight.

Based on maximum take-off weight, the global market segments are below 1000 kg, between 1000 & 2000 kg, and above 2000 kg. The global market is led by the 1000 to 2000 kg segment since it is most widely used in low-weight commercial planes. An aircraft is classified as a low-weight plane when the maximum take-off weight is 5,670 kg.

Based on application, the global market is divided into commercial and military, with the maximum revenue generated from the commercial segment, as for military reasons, the piston engine aircrafts may not be viable. For instance, Lockheed Martin C-130J from the United States has a maximum take-off weight of 70,370 kg.

Asia-Pacific is projected to register the highest growth in the global piston engine aircrafts market in the coming years owing to the exceptional growth potential of the commercial aviation sector in economies like China, India, Japan, Australia, South Korea, and others. China currently is on its road to becoming one of the most dominating economies across the globe and boasts of over 600 billionaires in the country. The large spending on lifestyle and for personal use may propel the demand for piston engine aircrafts in the coming years. India may register high growth driven by the increasing number of domestic aircrafts to meet the demand of the growing population of air travelers as well as the rise in the standard of living.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 0.87 Billion

Projected Market Size in 2028

USD 1.15 Billion

CAGR Growth Rate

4.31% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

Cirrus Aircraft (The Aviation Industry Corporation of China), American Champion Aircraft Corporation, Piper Aircraft Inc., Diamond Aircraft Industries (Wanfeng Aviation Industry Co. Ltd.), Textron Inc., and others.

Key Segment

By Maximum Take-Off Weight, Type, Application, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

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The global piston engine aircrafts market is home to players like Cirrus Aircraft (The Aviation Industry Corporation of China), American Champion Aircraft Corporation, Piper Aircraft Inc., Diamond Aircraft Industries (Wanfeng Aviation Industry Co. Ltd.), and Textron Inc.

Recent Developments:

  • In January 2022, the U.S. Environmental Protection Agency (EPA) announced that it will soon begin evaluation work to determine if piston-engine aircrafts lead to air pollution.
  • In August 2021, the US Army and Cummins entered a USD 87 million contract to develop an Advanced Combat Engine (ACE).

The global piston engine aircrafts market is segmented as follows:

By Maximum Take-Off Weight

  • Below 1000 Kg
  • Between 10,00 to 20,00 Kg
  • Above 2,000 Kg

By Type

  • Single-Engine
  • Multi-Engine

By Application

  • Commercial
  • Military

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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