
Piston Engine Aircraft Market 2023-2028
Piston Engine Aircraft Market to Reach US$ 1,170 Million by 2028, Impelled by Increasing Demand for Fuel-Efficient Aircraft
BROOKLYN, NY, USA, April 19, 2023 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Piston Engine Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.’ the global piston engine aircraft market size reached US$ 907 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,170 Million by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.
A piston engine aircraft, also known as a reciprocating engine, is an internal combustion engine (ICE) that utilizes reciprocating pistons to transform pressure into rotational motion. These engines operate on the same principle but are designed to be compact and have a narrow front fuselage. The gap between the cylinder and piston is smaller in piston engine aircraft, leading to high compression and heat generation, which improves overall fuel efficiency. They are commonly available in multi-engine and single-engine variants and are known for their durability, reliability, and low maintenance and fuel requirements. They offer a cost-effective solution for transportation, surveillance, and other applications that require versatility and maneuverability. As a result, piston engine aircraft are in high demand in the military, defense, and commercial sectors.
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Piston Engine Aircraft Market Trends:
The surging demand for single-engine piston aircraft for trading, training, hydro-seeding, and aerial application of pesticides or fertilizers represents one of the primary factors accelerating the market growth. Apart from this, the rapidly expanding aviation industry and increasing cross-border tensions are positively contributing to the market growth. Additionally, key market players are investing heavily in advanced technology to introduce aircraft engines with the increased time between overhaul and efficiency, which is creating a positive outlook for the market. Furthermore, the rising per capita income of consumers and the implementation of umpteen government initiatives to encourage the construction of small airfields are providing a substantial thrust to the market growth.
Piston Engine Aircraft Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the piston engine aircraft market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• American Champion Aircraft Corporation
• Cirrus Aircraft
• The Aviation Industry Corporation of China
• Costruzioni Aeronautiche TECNAM S.p.A.
• CubCrafters Inc.
• Diamond Aircraft Industries
• Wanfeng Aviation Industry Co. Ltd.
• Discovery Aviation Inc.
• Garmin Ltd.
• ICON Aircraft Inc.
• Piper Aircraft Inc
• Textron Inc.
Key Market Segmentation:
The report has segmented the piston engine aircraft market on the basis of type, maximum take-off weight, application and region.
Breakup by Type:
• Single Engine
• Multi-Engine
Breakup by Maximum Take-off Weight:
• Less than 1000 Kg
• 1000-2000 Kg
• More than 2000 Kg
Breakup by Application:
• Military and Defense
• Commercial
Breakup by Region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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