The increasing demand for Aerobatic Aircraft Market for leisure and training purposes is driving the market growth.
Growing Demand for Aerobatic Aircraft for Training Purposes
Growth Opportunities in the Market
The single-enginesegmentis expected to dominatethe market:The single-engine segment accounted for the largest market share and is expected to register a higher CAGR during the review period. These aircraft are compact and can accommodate a limited number of passengers.
The growing use of single-engine aerobatic aircraft for training purposes is likely to fuel the segment growth over the forecast duration.
The leisure applicationsegment is expected to register the highest growth in the market:Increasing adventure tourism has positively affected the demand for aerobatic aircraft for leisure purposes. Earlier leisure travel was limited to only developed countries; however, it is gaining traction in emerging countries as well in the recent past.
North America accounted for the largest market share in 2019:North America accounted for the highest share in the market in 2019 and is projected to continue its dominance over the forecast duration. The United States is the major country leading to the growth of the region. Further, the growing development of Do-It-Yourself aircraft in the US and Canada is also supplementing the regional growth.