The global Small and Medium-Sized Aircraft Market size is projected to reach a CAGR of 6.3% from 2022-2028.
Under the new system, “small” aircraft have a range up to 3,000 nautical miles (about 3,450 statute miles), “medium” planes have ranges between 3,000 and 5,000 nautical miles (about 5,750 statute miles) and those in the “large” category have a range of more than 5,000 nautical miles.
An increasing number of high-net-worth personnel and the introduction of new aircraft programs, are some of the factors that have supported long-term expansion for Small and Medium-Sized Aircraft Market.
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Recent Developments
- In May 2020, Piper Aircraft, Inc. expanded its aircraft services to Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont through Skytech Inc., a Piper Aircraft Inc. dealer that offers exceptional sales and product support by authorizing Piper service centres.
- In December, 2019 Bombardier signed a long-term lease agreement with the Greater Toronto Airports Authority (GTAA) to build its new state-of-the art Global Manufacturing Centre at Toronto Pearson International Airport. The facility will optimize final assembly operations for all Small and Medium-Sized Aircraft, including the industry flagship Global 7500 business jet.
Top Key Players
· AeroDelft
· Airbus S.A.S.
· Bye Aerospace
· Eviation Aircraft
· HES Energy Systems
· Joby Aviation
· Lilium
· Pipistrel d.o.o
· Wright Electric
· ZeroAvia, Inc
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North America to Dominate the Market
North America is estimated to account for the largest share of the global market. This can be attributed to the presence of a large number of high-net-worth individuals coupled with the existence of major business jet manufacturers such as Textron (US), Bombardier (Canada), and Gulfstream (US), among others.
Small and Medium-Sized Aircraft Market Segmentation:
On the basis of Point of Scale
· OEM
· Aftermarket
On the basis of Aircraft Type
· Light
· Mid-sized
· Large
· Airliner
On the basis of End Use
· Private
· Operator
On the basis of System
· OEM Systems
· Aftermarket Systems
On the basis of Range
· Less than 3,000 NM
· 3,000–5,000 NM
· More than 5,000 NM
Based on region:
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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