Market Trends of Aerobatic Aircraft Industry
This section covers the major market trends shaping the Aerobatic Aircraft Market according to our research experts:
The Leisure Activities Segment is Projected to Show Significant Growth During the Forecast Period
The leisure activities segment of the market is expected to show significant growth during the forecast period. The growth is due to the increasing demand for light sport aerobatic aircraft and growing investments in leisure activities. Aerobatic flying is mainly done for sports, entertainment, and general flying competitions. For instance, in June 2022, the Union Ministry of Civil Aviation in India announced a new policy for air sports in India. The National Air Sport Policy (NASP), 2022, listed 11 games under this category. The sport includes aerobatics, amateur-built and experimental aircraft, gliding, parachuting, powered aircraft and rotor aircraft, and aero modeling and rocketry. According to the Indian government, the small-sized industry is worth nearly Rs 80 crore. The Edge 540 aerobatic aircraft developed by Zivko Aeronautics is popular for racing and aeronautics. It is a single-engine aircraft with a climbing rate of 3,600+ feet per minute. Furthermore, the aerobatic championships and competitions organized by various federations and associations across the globe boost the growth of the market during the forecast period.
Asia Pacific Will Showcase Remarkable Growth During the Forecast Period
Asia Pacific is projected to show significant growth in the aerobatic aircraft market during the forecast period. The rising adoption of aerobatic aircraft for training and instruction purposes and increasing demand for these aircraft for recreational purposes drive the growth of the market across the region. Furthermore, rising investments in tourism and sports activities boost the market growth during the forecast period. For instance, in October 2022, The Indian Air Force (IAF) signed a contract worth Rs 6,826 crore for the procurement of 70 indigenous trainer aircraft, HTT-40 at the DefExpo 2022 at Gandhinagar. It was designed and developed by Hindustan Aeronautics Limited (HAL). The aircraft would be used for aerobatics, basic flight training, instrument flying, and close formation flights. It has unique features such as hot-refueling, running change-over of pilots, and short-turnaround time.
In addition to that, in September 2022, the Surya Kiran Aerobatic Team (SKAT) of the Indian Air Force performed an air show in Guwahati. Surya Kiran is an Indian Air Force aerobatics demonstration team, also known as the IAF Ambassadors. Pilots get training on such aircraft before they start flying any military aircraft due to the small size and compactness of aerobatic aircraft. Thus, growing investment in the procurement of aerobatic aircraft and rising demand from defense forces for the training of pilots drive the growth of the market across the Asia Pacific during the forecast period.
