Market Trends of Light-Sport Aircraft Industry
This section covers the major market trends shaping the Light-Sport Aircraft Market according to our research experts:
The Airplane Segment Accounted for the Largest Market Share in 2020
Currently, the airplane segment of the market studied has the highest share. The airplane category of LSAs is the most common in the market and is comparatively cheap, thus making them more preferable for recreational activities, enthusiastic flyers, and training new pilots. The growth of adventure sports in regions like North America, Europe, and some parts of the Middle East, is the primary reason for the growth of the airplane segment. On the other hand, the airlines, training institutes, and aviation authorities have been trying to bring the pilot training and certification costs down. In this regard, the adoption of LSAs is increasing, as they offer a lower cost of procurement and maintenance and lower fuel burn than conventionally used piston or turboprop engine-powered general aviation aircraft.
It was observed that the demand for factory-built aircraft was greater than the kit-built ones. However, with the growing ease of building aircraft from kits and the information availability, this trend is fast-changing. In 2020, kit-built experienced higher registrations compared to factory-built ones. With the growing demand for light airplanes, several manufacturers are introducing newer generation aircraft. For instance, at the start of 2021, Terrafugia announced that FAA granted a special airworthiness certificate to certify its transition roadable airplane in the light-sport category (S-LSA), making the vehicle legal for flight. Terrafugia plans to produce and sell initial flight-only versions and will further develop the design to commercialize the aircraft by 2022. Such developments are expected to drive market growth during the forecast period.
Europe is Expected to be the Largest Market During the Forecast Period
Currently, Europe has the highest market share revenue, and it is expected to continue its domination during the forecast period. The region features several tourist spots and favorable geographies for light-sport aircraft activities. With the growing adoption of these aircraft, aviation regulatory bodies in the region are introducing new regulations to support the industry's growth and encourage new LSA procurements and operations. In 2020, EASA (the European Safety Agency) started allowing 600 kg ultralights, equivalent to US LSAs in Europe.
Ultralights flying at lower MTOW restrictions will only be able to upgrade their weight class if they are recertified. However, as of mid-2021, some national regulators in Europe were not allowing this recertification, while others welcomed the change. On the other hand, EASA has also made a concession to allow ultralight (and sailplane) to be used toward PPL SEP (and LAPL license) renewals. This is expected to help the pilots who predominantly fly ultralight aircraft. Several new aircraft manufacturers have initiated operations during the last decade in the region. Hence, many new LSA models have been released recently to cater to the increasing demand. On this note, Flight Design General Aviation GmbH launched the CTLS 2020 Sport Edition in April 2020. The CTLS 2020 features technical and aerodynamic upgrades while offering improved exteriors and interiors. Such developments are expected to drive market growth in the region during the forecast period.
