General Aviation Market Size, Trends and Growth Analysis by 2027

The global general aviation sector is projected to expand from US$ 26,208.00 million in 2021 to US$ 36,461.60 million by 2028, reflecting a compound annual growth rate (CAGR) of 4.8% during the period from 2021 to 2028.

A significant factor driving the growth of the general aviation aircraft market is the rising demand for charter services across various regions. The need for business jets is anticipated to rise in the near future, fueled by the ongoing increase in charter operations and business travel within these areas. For instance, in the first quarter of 2021, Embraer successfully delivered a Phenom 100EV to an undisclosed customer in Australia. Additionally, as end-user demand escalates, aircraft original equipment manufacturers (OEMs) are enhancing their customer support and service capabilities, which is expected to further bolster the growth of the general aviation market throughout the forecast period.

The general aviation market can be divided into several segments, including components, aircraft types, and geographical regions. In terms of components, the market is classified into avionics, airframes, landing gears, engines, and other parts. As of 2020, the engine segment dominated the market share. When considering aircraft types, the general aviation market is divided into fixed-wing and rotary-wing aircraft, with the fixed-wing segment holding a larger share in 2020. Geographically, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). North America represented a substantial portion of the global market in 2020.

The COVID-19 pandemic had a profound impact on the general aviation industry, leading to a significant slowdown as resources became scarce and future prospects became uncertain. Countries such as the United States, France, Russia, and China temporarily halted their production operations in compliance with government mandates regarding lockdowns and social distancing. As a result, aircraft manufacturers experienced a revenue decline of approximately 14-15% in the general aviation market. A market research study conducted during the fiscal year 2020 indicated that the COVID-19 outbreak caused a notable decrease in the global market value.

In 2020, the United States faced the most severe repercussions of the pandemic. General aviation manufacturers and service providers were adversely affected by nationwide lockdowns, travel restrictions, the closure of production facilities, and workforce shortages. The pandemic triggered both health and economic crises in the U.S., leading to widespread disruptions in the aerospace sector, which affected everything from supply chains and manufacturing processes to product sales. The consequences of the pandemic have influenced both the short-term and long-term strategies of the industry.

The overall size of the general aviation market has been determined through a combination of primary and secondary research methodologies. The research process commenced with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. This approach also aimed to provide a comprehensive overview and forecast of the general aviation market across all segments. Furthermore, it included an analysis of the market based on five major regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America. To validate the data and gain deeper analytical insights, primary interviews were conducted with industry participants and commentators. These participants included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the general aviation sector.

Key players in the global general aviation market include Airbus, Boeing, Leonardo S.p.A., Saab AB, Dassault Aviation, PILATUS AIRCRAFT LTD, Textron Inc., Bombardier, Gulfstream Aerospace Corporation, and Embraer. These companies are at the forefront of the industry, contributing to its growth and development.