General Aviation Market Growth Trends, Opportunities by 2028

General Aviation Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Avionics, Airframe, Landing Gears, Engine, and Others) and Aircraft (Fixed Wing and Rotary Wing)

Publication Month : Dec 2021

  • Report Code : TIPRE00026058
  • Category : Aerospace and Defense
  • Status : Published
  • No. of Pages : 161
Inquire Before Buy



The general aviation market is expected to grow from US$ 26,208.00 million in 2021 to US$ 36,461.60 million by 2028; it is estimated to register a CAGR of 4.8% during 2021-2028.

Charter operators are expanding their service lines by adding newer routes to them. Along with this, the growing need for non-scheduled business travel compels them to add new aircraft to their existing fleets, which propels the demand for business jets and turboprops across the world. On the other hand, the demand for light sport and trainer aircraft is persistently growing worldwide. The rising interest of millennials toward aircraft piloting as their career is boosting the demand for aviation training, thus contributing to the surge in general aviation aircraft deliveries across different regions. Moreover, a few charter aviation vendors witnessed a rise in their revenues during FY 2020. In 2021, Club One (a chartered air services provider company in India) announced that it has ended 2020 better than 2019 with a 10% increase in business, despite the business loss during the lockdown period. Club One is expected to retain this trend during FY 2021 owing to the absence of regular international and domestic flight services and preference for safety, health, and hygiene coupled with the need to adhere to social distancing norms for domestic travel across different regions. The corporate sectors across the globe are the top consumers of charter aviation due to the burgeoning requirement of air travel for attending cross-border meetings and operational sessions planned among business personnel. The abovementioned factors are propelling the demand for helicopters for domestic travel operations.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

General Aviation Market: Strategic Insights

Market Size Value inUS$ 26,208.00 million in 2021
Market Size Value byUS$ 36,461.60 million by 2028
Growth rateCAGR of 4.8% from 2021 to 2028.
Forecast Period2021-2028
Base Year2021
Analyst Image


Have a question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

Impact of COVID-19 Pandemic on General Aviation Market

The outbreak of the COVID-19 has been significantly affected the world and continues to impact several countries. Until the spread of COVID–19, the aerospace industry was experiencing substantial growth in terms of production, despite huge backlogs from the aircraft manufacturers; the global aviation industry witnessed a significant rise in the number of passengers and an increase in aircraft procurement. Unfortunately, due to the COVID-19 pandemic, the demand for aircraft decimated, which resulted in lower volumes of orders among the aircraft manufacturers and fewer productions. The decline in production volumes adversely affected the businesses of various component manufacturers and associated technologies. Thus, the general aviation businesses have been severely affected by destabilization in aircraft production. Moreover, until the first two-quarters of the pandemic, the demand for personal air travel was on the rise as there were commercial air travel restrictions imposed by different governments worldwide that increased the demand for chartered air travel during the pandemic.

Lucrative Regions for General Aviation Products Providers

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

General Aviation Market Insights
The Surge in Demand for Business Jets

The popularity and adoption of business jets are expected to increase in the next decade, primarily, due to the inclusion of new models in the service. In the Asia Pacific, countries such as China, Japan, and South Korea together account for more than two-thirds of the regional demand for business jets and helicopters each year. In addition, the demand for business jets, particularly for the large and medium-size jets, is on the rise in Southeast Asia. Gulfstream, Bombardier, and Textron are among the major sellers of business jets in the Asia Pacific. Despite a dip in the sales volumes in the last two years, business jet manufacturers are considering China and India, among others, as lucrative markets. Charter flight activities experienced significant growth in the first half of 2020 due to the travel restrictions enacted by various governments upon the onset of COVID-19; despite these favorable conditions, private buyers were reluctant to buy new jets in that year, which resulted in the limited number of orders in 2020. However, the demand for jets is expected to increase in the coming years due to the persistent surge in charter activities and business travel in the region. For instance, in the first quarter of 2021, Embraer delivered another Phenom 100EV to an undisclosed Australian customer. Further, with the increasing demand from end-users, the aircraft OEMs are expanding their customer support and service capabilities, which will contribute to the general aviation market growth during the forecast period.  Owing to promising demand, the general aviation market is anticipated to grow remarkably in the Asia Pacific region.

Component-Based Market Insights

Based on components, the general aviation market is segmented into avionics, airframe, landing gears, engine, and others. In 2020, the engine segment accounted for the largest market share.

General Aviation Market, by Component, 2020 and 2028 (%)

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Aircraft-Based Market Insights 

Based on aircraft, the general aviation market is bifurcated into fixed-wing and rotary wings. In 2020, the fixed-wing segment accounted for a larger share in the market.

The players operating in the general aviation market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

  • In October 2021, Gulfstream Aerospace Corporation introduced the Gulfstream G800 and the Gulfstream G400 to expand its ultramodern, high-technology family of general aviation aircraft.
  • In September 2021, Bombardier unveiled the new Challenger 3500 super-midsized business jet whose standard avionics systems include auto-throttle, Smart Link Plus, and Voice Activated Cabin System.

The general aviation market is segmented based on components, aircraft, and geography. Based on component, the market is categorized into avionics, airframe, landing gears, engine, and others. Based on aircraft, the global general aviation market is divided into fixed-wing and rotary-wing. Geographically, the general aviation market is primarily segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.

Company Profiles

  • Airbus
  • Boeing
  • Leonardo S.p.A.
  • Saab AB
  • Dassault Aviation
  • Pilatus Aircraft Ltd.
  • Textron Inc.
  • Bombardier
  • Gulfstream Aerospace Corporation
  • Embraer
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component, and Aircraft

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions

What are reasons behind general aviation market growth?

Charter operators are expanding their service lines by adding newer routes to them. Along with this, the growing need for non-scheduled business travel compels them to add new aircraft to their existing fleets, which propels the demand for business jets and turboprops across the world. On the other hand, the demand for light sport and trainer aircraft is persistently high across the world. The rising interest of millennial generation towards aircraft piloting as their career is boosting the demand for aviation training, thus contributing to the surge in general aviation aircraft deliveries across different regions.

What are market opportunities for general aviation market?

One of the major concerns across the aviation sector is environmental emissions as the global aviation industry accounts for ~2.5% of the global carbon emissions, causing environmental pollution. Several vendors and aviation research organizations have been working on the development of advanced power-efficient and low-emission aircraft models, including hybrid electric and fully electric aircraft. Electric aircraft systems are powered by one or more electric motors that drive the propellers.

Which component is expected to dominate the market in the forecast period?

Engines is segmented into Piston Engine, Turboprop, Turbofan and Turboshaft. An aircraft engine is the power component of an aircraft propulsion system. An aircraft engine is also often referred to as an aero engine. Turbo Prop engine, Turbo Fan engine, Turbo Shaft engine and piston engine are various types of aircraft engines. An engine type is finalized as per the required utility of the aircraft. Safran, GE Aviation, Rolls-Royce plc, and Pratt & Whitney are few of the market leaders that provide aircraft engines to various customers all over the world.

Which type is expected to dominate the market during the forecast period?

Fixed wing aircrafts are those aircrafts which are jet engine powered or propeller driven and have wings that do not move. Such aircrafts are most commonly utilized for longer travel distances as compared to rotary-wing aircrafts. One of the significant advantage to fixed wing air ambulances is that it can fly in inclement weather, such as fog, which rotary wing aircraft cannot. This leads to lesser delays when a patient is to be transferred from one facility to another facility. Fixed wing aircrafts are widely used for aerial photography and aerial survey work.

Which region is expected to dominate the general aviation market in the forecast period?

Due to higher living standards in North America, airplanes are the most widely-used means of transport for domestic and international trips. Moreover, the increase in the number of high-net-worth individuals (HNWIs), the enhanced emphasis on operational safety from regulatory bodies, and ongoing advancements in developing a light sports aircraft are also expected to help the market’s growth in this region over the next few years. The emerging concept of urban air mobility (UAM) and the growing concern of greenhouse emission is driving general aviation manufacturers to develop all-electric aircraft, which is anticipated to create new business opportunities for market players in this region.

What trends are expected to drive the demand for various general aviation systems?

The newly growing interest in aviation electrification is attracting contributions from the manufacturers of aircraft, energy supply equipment, and battery storage. The US federal agencies are funding various efforts that includes technology research, forecasting the aircraft demand, and environmental impacts of aircraft electrification. Most of the vendors in the global aircraft industry are focusing on the development of advanced electric systems meant for deployments in different aircraft assemblies. With the rapidly growing aviation industry from the past few years, the demand for aircraft overhaul services is also increasing.

The List of Companies - General Aviation Market

  1. Airbus
  2. Boeing
  3. Leonardo S.p.A.
  4. Saab AB
  5. Dassault Aviation
  7. Textron Inc.
  8. Bombardier
  9. Gulfstream Aerospace Corporation
  10. Embraer

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Related Reports