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According to this report the market was valued at US$ 4192.4 million in 2019 and is projected to reach US$ 6084.9 million by 2027; it is expected to grow at a CAGR of 6.2% from 2020 to 2027. The report highlights key factors driving the market growth, and prominent players with their developments in the market.
The general aviation sector in the world is growing exponentially since the last few years due to the constant increase in volumes of orders and deliveries. Rising demand for general aviation aircraft is majorly attributed to rise in the purchase of business and corporate jets in developed, as well as a few developing, countries. The presence of multiple general aviation aircraft manufacturers globally is showcasing the year-on-year growth in orders and deliveries. Presently, various general aviation aircraft original equipment manufacturers (OEMs) are stressing on increasing the flight range and dur