According to IMARC Group’s latest report, titled “: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.’ the global piston engine aircraft market size reached US$ 907 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,170 Million by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.
What is Piston Engine Aircraft?
Aircraft piston engines are internal combustion engines (ICEs) that utilize reciprocating pistons to convert pressure into rotational motion. Though similar to automobile engines in terms of functioning, they are more compactly designed with a smaller gap between the piston and cylinder. This results in higher compression and heat, which enhances overall fuel efficiency. Apart from this, piston engine aircraft are highly durable and reliable and require minimal maintenance and fuel consumption. As a result, they are witnessing high demand across the military, defense, and commercial industries. Currently, piston engines are available in single- and multi-engine variants.
Piston Engine Aircraft Market Trends:
The global market for piston engine aircraft is primarily growing due to the increasing demand for single-engine aircraft for training, trading, hydro-seeding, and aerial application of pesticides or fertilizers. Besides this, the expanding aviation industry and rising cross-border tensions are contributing to the market growth. Furthermore, key market players are investing heavily in advanced technology to introduce aircraft engines with increased efficiency and longer time between overhauls, which, in turn, is providing a positive outlook for the market.
Additionally, the rising per capita income and government initiatives aimed at encouraging the construction of small airfields are providing a substantial boost to the market growth. Other factors, such as the increasing awareness regarding the advantages of piston engine aircraft and escalating investments in research and development (R&D) activities, are propelling the market growth.
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Who are the key players operating in the industry?
The report covers the major market players including:
- 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
- Textron Inc.
Key Market Segmentation:
Breakup by Type:
- Single Engine
- Multi-Engine
Breakup by Maximum Take-off Weight:
- Less than 1000 Kg
- 1000-2000 Kg
- More than 2000 Kg
Breakup by Application:
- Military and Defense
- Commercial
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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