Global Piston Engine Aircraft Market to Reach US$ 1,300 Million by 2032, Impelled by Rising Demand for Cost-Efficient Aircraft

April 20, 2023 | Aerospace and Defense

According to the latest report by IMARC Group, titled "Piston Engine Aircraft Market Report by Type (Single Engine, Multi-Engine), Maximum Take-off Weight (Less than 1000 Kg, 1000-2000 Kg, More than 2000 Kg), Application (Military and Defense, Commercial), and Region 2024-2032" the global piston engine aircraft market size reached US$ 900 Million in 2023. Piston engine aircraft are airplanes that are powered by a piston engine. They work by using the energy created by the combustion of fuel and air within a cylinder to turn a crankshaft, which then drives the propeller that provides the thrust necessary to move the aircraft forward. They are also referred to as reciprocating engines or internal combustion engines and are commonly used for personal and general aviation purposes, such as flying for pleasure or business trips. They range in various sizes from small single-engine planes that can carry one or two passengers, to larger multi-engine planes that can carry several passengers and have longer-range capabilities. Additionally, they can also be adapted for training new pilots due to their relative simplicity compared to other types of aircraft across the globe.

Global Piston Engine Aircraft Market Trends:

The global market is primarily driven by the rising demand for cost-efficient aircraft. Since piston engine aircraft are generally less expensive to purchase, operate, and maintain than their turbine-powered counterparts, this makes them a cost-effective option for individuals and small businesses who want to own or operate an aircraft. Moreover, the growing investments by public and private agencies in improving the overall tourism and hospitality sectors are significantly supporting the demand for piston engine aircraft for business travel and recreational flying. Apart from this, the rising spending on the development of new airports across several developing countries to operate from smaller airports that may not be accessible to larger turbine-powered aircraft is creating a positive market outlook. Along with this, the widespread adoption of piston engine aircraft in pilot training, due to their relative simplicity and lower operating costs, is creating a steady demand in the aviation industry. Furthermore, with the growing concern regarding the environmental impact of aviation, there has been a considerable rise in the demand for alternative aviation fuels and more fuel-efficient aircraft across the globe. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 1,300 Million by 2032, exhibiting a CAGR of 3.67% during 2024-2032.

Market Summary:

On the basis of the type, the market has been categorized into single and multi-engine.
Based on the maximum take-off weight, the market has been segmented into less than 1000 kg, 1000-2000 kg and more than 2000 kg.
On the basis of the application, the market has been classified into military and defense and commercial.
Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include American Champion Aircraft Corporation, Cirrus Aircraft (The Aviation Industry Corporation of China), Costruzioni Aeronautiche TECNAM S.p.A., CubCrafters Inc., Diamond Aircraft Industries (Wanfeng Aviation Industry Co. Ltd.), Discovery Aviation Inc., Garmin Ltd., ICON Aircraft Inc., Piper Aircraft Inc. and Textron Inc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Segment Coverage	Type, Maximum Take-off Weight, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	American Champion Aircraft Corporation, Cirrus Aircraft (The Aviation Industry Corporation of China), Costruzioni Aeronautiche TECNAM S.p.A., CubCrafters Inc., Diamond Aircraft Industries (Wanfeng Aviation Industry Co. Ltd.), Discovery Aviation Inc., Garmin Ltd., ICON Aircraft Inc., Piper Aircraft Inc. and Textron Inc.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
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Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Piston Engine Aircraft Market to Reach US$ 1,300 Million by 2032, Impelled by Rising Demand for Cost-Efficient Aircraft

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