Ultrabooks in their current form will fail to revive the the portable PC market, according to an analyst at JP Morgan.

Mike Moskowitz issued a note to investors today, picked up by Apple Insider, that says that the ultrabook form factor is unlikely to ever have the same success as the MacBook Air.

It is "ironic", says Moskowitz, that the ultrabook design is so similar to that of the MacBook Air, a product that was met with a great deal of scepticism when first announced.

"It seems that everyone wants to be like Apple. All of this market emulation of Apple is ironic, in our view, given the initial scepticism that the MacBook Air received," he said.

Moskowitz's main issue with the ultrabook is the price, though reports from Taiwan suggest that prices in the category could drop between 20 and 30 percent in the next two months.

This price drop will preceed the launch of the second-generation of ultrabooks which will be based on Intel's Ivy Bridge architecture. Premium brands such as Dell and Samsung have delayed the launch of their ultrabooks in anticipation of the new architecture, which is likely to bring both improvements in speed and power efficiency.

Moskowitz, though, doesn't believe that the first generation of ultrabooks will make anything like the impact that the MacBook Air has. "The MacBook Air form factor has been a success for Apple, but we are skeptical that similar success can be replicated by Windows-based Ultrabooks in the first generation."