Growing Investment by the Key Players to Support the Growth of the Global Aircraft Piston Engine Market
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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