Growth Forecast To Be 5.8 Percent Annually
The ultralight and light aircraft market is estimated at $7.1 billion in 2018 and is projected to reach $13.9 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 5.80 percent from 2018 to 2030, according to a new report from ASDReports. Factors such as the increasing demand for Unmanned Aerial Vehicles (UAVs) across the globe and increasing global deliveries of ultralight and light aircraft supported by the demand for air taxi and urban air mobility are leading to the growth of the market. However, risks associated with passenger safety and restrictions on flying commercial drones are limiting the overall growth of the market.
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