Market Size of general aviation Industry
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 33.28 Billion |
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Market Size (2030) | USD 43.11 Billion |
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Largest Share by Sub Aircraft Type | Business Jets |
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CAGR (2024 - 2030) | 4.41 % |
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Largest Share by Region | North America |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
General Aviation Market Analysis
The General Aviation Market size is estimated at 33.28 billion USD in 2024, and is expected to reach 43.11 billion USD by 2030, growing at a CAGR of 4.41% during the forecast period (2024-2030).
33.3 B
Market Size in 2024 (USD)
43.1 B
Market Size in 2030 (USD)
23260
Total Deliveries in the Historic Period (2017-2023)
31121
Total Deliveries during the Forecast Period (2024-2030)
Largest Market by Sub-Aircraft Type
74.26 %
value share, Business Jets, 2023
The increasing number of high net-worth individuals (HNWIs) and ultra high net-worth individuals (UHNWIs) across all the regions acts as a major driver for the market's growth.
Fastest-growing Market by Sub-Aircraft Type
6.90 %
Projected CAGR, Piston Fixed-Wing Aircraft, 2024-2030
Consumers' preference for premium quality and convenient jets with large and personalized spaces is driving the adoption rate.
Largest Market by Body Type
82.01 %
value share, Large Jet, 2023
The increasing preference for large jets is driving the demand. Therefore, manufacturers offer consumers a wide range of products according to their preferences.
Largest Market by Region
63.31 %
value share, North America, 2023
The United States is the major contributor to the growth of the market in the region because of its strong economy and increased procurement of various types of private aircraft.
Leading Market Player
25.08 %
market share, General Dynamics Corporation, 2022
General Dynamics Corporation, through its subsidiary Gulfstream Aerospace, provides a vast number of general aviation aircraft across all regions, making it a leading player.
The increasing number of HNWIs is acting as a catalyst for the increased demand for private travel
- Growth in the HNWI and UHNWI populations globally is acting as a catalyst for the increased demand for private travel, subsequently driving the procurement of helicopters and business jets with enhanced cabin interiors. For instance, from 2017 to 2022, the HNWI population increased by 83% globally.
- With the growth in the tourism sector in various regions, many charter operators and tourism companies are planning to expand their fleets by introducing new piston-engine aircraft, turboprop aircraft, and helicopters. This trend is helping them further expand their presence globally. The growing concerns over aviation emissions shifted the focus of manufacturers toward the development of all-electric aircraft. New electric aircraft models are likely to be developed in the future.
- The piston fixed-wing aircraft maintained a share of around 35% of the overall general aviation aircraft delivered globally during 2017-2022. Over the next 20 years, 7,63,000 new civil aviation pilots will be required to operate and maintain the world fleet. Agricultural applications, such as aerial application of pesticides or fertilizers and hydro-seeding, have also aided the procurement of piston aircraft.
- In terms of value, business jets have the largest share. Of the total business jets present, nearly 93% are wholly owned, while the rest have shared and fractional ownership. The light jet segment dominated the market with 46%, followed by large jets with 26%, and mid-size jets with 24%. During 2023-2030, approximately 6000 business jets are expected to be delivered globally.
- The global general aviation sector was impacted by the COVID-19 pandemic. In the shorter term, deliveries declined by 13% in 2020 and 2021. However, the surge in the utilization of helicopters, business jets, and other aircraft and the plans to procure new jets for transportation and charter operations are expected to remain unaffected in the long term, which may aid the growth of the general aviation market during the forecast period.
- Due to the growth of HNWIs and UHNWIs globally, there has been an increase in the demand for private travel, subsequently driving the procurement of helicopters and business jets with enhanced cabin interiors. From 2016 to 2021, the global UHNWI population increased from 348,355 in 2016 to 610,569 in 2021, a growth of around 75%.
- North America was the most dominating region globally in terms of deliveries, accounting for around 71% of the global business jet deliveries in 2021. Similarly, turboprop and piston aircraft accounted for 53% and 69% of the global deliveries in their category.
- In Europe, there is an increasing adoption of private jets for intra-region travel by most HNWIs due to the commercial airlines' cancellations of intra-region flights amid staff shortages.
- The growing demand for general aviation services globally, with significant recovery after the pandemic in the major markets, such as North America, Europe, and the Middle East, is expected to aid the global general aviation market. Around 29,000 aircraft comprising business jets, helicopters, turboprops, and piston aircraft are expected to be delivered globally during 2022-2028.
General Aviation Industry Segmentation
Business Jets, Piston Fixed-Wing Aircraft, Others are covered as segments by Sub Aircraft Type. Asia-Pacific, Europe, Middle East and Africa, North America, South America are covered as segments by Region.
- Growth in the HNWI and UHNWI populations globally is acting as a catalyst for the increased demand for private travel, subsequently driving the procurement of helicopters and business jets with enhanced cabin interiors. For instance, from 2017 to 2022, the HNWI population increased by 83% globally.
- With the growth in the tourism sector in various regions, many charter operators and tourism companies are planning to expand their fleets by introducing new piston-engine aircraft, turboprop aircraft, and helicopters. This trend is helping them further expand their presence globally. The growing concerns over aviation emissions shifted the focus of manufacturers toward the development of all-electric aircraft. New electric aircraft models are likely to be developed in the future.
- The piston fixed-wing aircraft maintained a share of around 35% of the overall general aviation aircraft delivered globally during 2017-2022. Over the next 20 years, 7,63,000 new civil aviation pilots will be required to operate and maintain the world fleet. Agricultural applications, such as aerial application of pesticides or fertilizers and hydro-seeding, have also aided the procurement of piston aircraft.
- In terms of value, business jets have the largest share. Of the total business jets present, nearly 93% are wholly owned, while the rest have shared and fractional ownership. The light jet segment dominated the market with 46%, followed by large jets with 26%, and mid-size jets with 24%. During 2023-2030, approximately 6000 business jets are expected to be delivered globally.
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General Aviation Market Size Summary
The general aviation market is poised for significant growth, driven by the increasing demand for private travel among high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) globally. This demand is fueling the procurement of helicopters and business jets, particularly those with enhanced cabin interiors. The tourism sector's expansion is prompting charter operators and tourism companies to expand their fleets with new aircraft, including piston-engine and turboprop aircraft, as well as helicopters. Additionally, the industry's focus is shifting towards the development of all-electric aircraft in response to growing concerns over aviation emissions. The market is also witnessing a steady demand for piston fixed-wing aircraft, which have maintained a substantial share of global deliveries, supported by agricultural applications such as aerial pesticide application and hydro-seeding.
The market landscape is moderately consolidated, with major players like Bombardier Inc., Dassault Aviation, Embraer, General Dynamics Corporation, and Textron Inc. dominating the scene. North America remains a leading region in terms of business jet deliveries, while Europe is seeing increased adoption of private jets for intra-region travel. The Asia-Pacific region is emerging as a key player in wealth management and private banking, driven by a growing HNWI population and increasing wealth. Despite the challenges posed by the COVID-19 pandemic, the market is expected to recover, with significant deliveries of various aircraft types anticipated in the coming years. Recent expansions and investments by companies like Gulfstream Aerospace Corp. and Textron Aviation further underscore the industry's growth trajectory and commitment to enhancing operational capabilities.
General Aviation Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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1.1 Sub Aircraft Type
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1.1.1 Business Jets
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1.1.1.1 Large Jet
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1.1.1.2 Light Jet
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1.1.1.3 Mid-Size Jet
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1.1.2 Piston Fixed-Wing Aircraft
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1.1.3 Others
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1.2 Region
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1.2.1 Asia-Pacific
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1.2.1.1 Australia
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1.2.1.2 China
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1.2.1.3 India
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1.2.1.4 Indonesia
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1.2.1.5 Japan
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1.2.1.6 Malaysia
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1.2.1.7 Philippines
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1.2.1.8 Singapore
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1.2.1.9 South Korea
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1.2.1.10 Thailand
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1.2.1.11 Rest of Asia-Pacific
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1.2.2 Europe
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1.2.2.1 France
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1.2.2.2 Germany
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1.2.2.3 Italy
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1.2.2.4 Netherlands
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1.2.2.5 Russia
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1.2.2.6 Spain
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1.2.2.7 UK
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1.2.2.8 Rest of Europe
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1.2.3 Middle East and Africa
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1.2.3.1 Algeria
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1.2.3.2 Egypt
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1.2.3.3 Qatar
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1.2.3.4 Saudi Arabia
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1.2.3.5 South Africa
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1.2.3.6 Turkey
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1.2.3.7 United Arab Emirates
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1.2.3.8 Rest of Middle East and Africa
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1.2.4 North America
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1.2.4.1 Canada
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1.2.4.2 Mexico
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1.2.4.3 United States
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1.2.4.4 Rest of North America
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1.2.5 South America
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1.2.5.1 Brazil
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1.2.5.2 Chile
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1.2.5.3 Colombia
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1.2.5.4 Rest of South America
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General Aviation Market Size FAQs
How big is the Global General Aviation Market?
The Global General Aviation Market size is expected to reach USD 33.28 billion in 2024 and grow at a CAGR of 4.41% to reach USD 43.11 billion by 2030.
What is the current Global General Aviation Market size?
In 2024, the Global General Aviation Market size is expected to reach USD 33.28 billion.
