According to the latest report by IMARC Group, titled "Piston Engine Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global piston engine aircraft market reached a value of US$ 907 Million in 2022. Piston engine aircraft is generally equipped with one or more piston-powered engines for converting high pressure and temperature into rotational motion. The key components of a piston engine include cylinders, crankcase, pistons, valve-operating equipment, connecting rods and crankshafts that aid in generating power that provides thrust to the aircraft. Its design is similar to the interior of a small car and is widely used for carrying one to six passengers for short missions. It runs on aviation gasoline that offers higher power output, compression ratio and efficiency at higher altitudes. There has been a considerable rise in the adoption of piston engine aircraft due to the growing passenger traffic across developing countries.
Global Piston Engine Aircraft Market Trends:
The global market is primarily driven by significant growth in the aviation industry. Along with this, leading players in the market are heavily investing in the deployment of advanced features, such as side yokes, a cirrus airframe parachute system (CAPS) and composite airframe for enhancing the safety of pilots, which are gaining widespread prominence across the globe. Moreover, the rising product demand for training purposes across the defense sector is also acting as one of the key factors driving the growth of the market. In line with this, the escalating preference for fuel-efficient aircraft with high compression ratios and the widespread adoption of piston engine aircraft in agricultural applications, including aerial application of fertilizers or pesticides, are providing a boost to the market growth. Other factors, including continuous innovations in piston aircraft, increasing investments for upgrading the defense infrastructure and extensive research and development (R&D) activities conducted by key players, are further contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 1,170 Million by 2028, growing at a CAGR of
4.2% during 2023-2028.
- On the basis of the type, the market has been bifurcated into single engine and multi-engine.
- Based on the maximum take-off weight, the market has been segregated 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, the 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. Some of these 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.
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