Aircraft Piston Engine Market Size and Growth Report Till 2030
Incentives for piston engine aircraft show to be a prominent market driver due to the growing need for better and more comprehensive safety and navigation systems aboard the aircraft.
According to the TechSci Research report, "Aircraft Piston Engine Market-Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2030F," the Global Aircraft Piston Engine Market is anticipated to grow at a decent rate in the forecast years 2023-2030. In the year 2021 more of the private aircraft order were placed, which has encouraged associated aerostructure manufacturers and integrators alike to enhance their production capabilities. The properties of piston engine, like high thermal conductivity, low density, easy machinability, simple net-shape fabrication techniques (casting and forging), and low fuel efficiency, are driving the global market for aircraft piston engine. Additionally, a rise in the purchase of training aircraft fuels the expansion of the aircraft piston engine market. Aside from that, single-engine aircraft are in high demand due to their expanding use. One of the main factors impeding the expansion of the worldwide aircraft piston engine market is the piston engines' short life cycle, which is five years and is smaller than that of other jet engines or turboprop engines.
More than 700 shipments of piston-powered aircraft, including both single- and multi-piston engine models, were documented in the United States in 2016. More than 675 single piston engine aircraft were shipped, whereas only 33 multi piston engine aircraft were shipped, resulting in a total revenue of USD 511 million. As of 2016, there were more than 141,000 operational piston-engine aircraft in the United States, making up more than 50% of all active aircraft in the area. More than 104,000 of these 141,000 aircraft are utilised for personal or recreational purposes, and roughly 12,474 are operated for business (without a crew). More than 127,00 of the 141,000 aircraft have a single piston engine, and roughly 13,254 have two piston engines.
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Based on the statistics, it is found that United States is now experiencing a general aviation sector boom, which typically starts with light aircraft since they make up the majority of the general aviation fleet globally. Every first pilot takes to the skies in a small, piston-powered aircraft. Light aircraft are primarily utilised in flight instruction schools in China, but in the near future, they are anticipated to seize the short trip market, which is extremely ideal for small planes. This is important because the terrain makes it expensive to develop roadways and railroads in these areas.
A Chinese real estate developer purchased Mooney Aviation Co., another well-known producer of high-performance piston-engine aircraft, in October 2013 for roughly USD100 million, with a commitment to invest a further USD1 billion later on. The piston engine products, which were approved by the Chinese civil aviation government in 2010, were introduced by Beechcraft Corporation and Cessna Aircraft Company in 2014 at the Asian Business Aviation Conference & Exhibition (ABACE) in Shanghai, China. The Bonanza G36 single-engine piston and the Baron G58 twin-engine piston aircraft were among the available products. Piston engine aircraft shipments decreased in Singapore between 2012 and 2016, An increase in lead emissions from these piston engine aircraft has been one of the major factors for the increase in pollution levels, which alarmed the government of Singapore.
Piston engine aircraft between 1000-2000 kg is anticipated to grow in the coming year. The market of aircraft between 1000-2000 kg is set receive a major push in business-oriented and lifestyle segment, this is further augmented by the worsening traffic jams in tourist hotspot locations.
The fuel efficiency of private aircraft is one of their owners' and pilots' top priorities. As a result, the market is extremely sensitive to the fuel consumption rates of different aircraft models across the whole range of MTOWs. Light aircraft are generally employed for short, leisurely flights, despite the fact that decreasing the MTOW has a negative impact on range.
The low fuel burn rate of these aircraft, as opposed to models with higher MTOW values, is one of the factors driving the demand for them. The first CO2 emission regulation for aeroplanes was created by the International Civil Aviation Organization (ICAO) in 2016. The MTOW upper limit of some in-production aircraft will be pushed lower as a result, according to airframe manufacturers.
Some of the major players operating in the Global Aircraft Piston Engine market include:
Piper Aircraft
American Champion Aircraft
Tecnam Aircraft
Textron Inc.
Cirrus Aircraft
Diamond Aircraft
Flight Design GMBH
Extra Aircraft
Costruzioni Aeronautiche Tecnam
Robinson Public Company Limited
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“Many companies are investing in the research and development department, of the innovation and improvement of the piston engines. The investment will help in research and development of the piston engine which will further help in driving the market in the coming year. "said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Aircraft Piston Engine Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2030 Segmented By Number of Engines (Single Engine, and Multi Engine), By MTOW (Below 1000Kg, 1000-2000Kg, and Above 2000kg), and By Region has evaluated the future growth potential of Global Aircraft Piston Engine Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Aircraft Piston Engine Market.
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