The Firefighting Aircraft Market Growth Rate Of 9% Comes With A Growing Number Of Wildfires As Per The Business Research Company's Firefighting Aircraft Global Market Report 2022
June 23, 2022
TBRC’s market research report covers firefighting aircraft market size, firefighting aircraft market forecasts, major firefighting aircraft companies and their market share, key strategies to undertake, and more.
/EIN News/ -- LONDON, June 23, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the firefighting aircraft market, the growing number of wildfires is expected to propel the growth of the firefighting aircraft market going forward. Wildfires are unintentional fires that occur in natural places such as forests or grasslands. Wildfires are caused by human activity or a natural phenomenon such as lightning, and they can happen at any time or anywhere. Firefighting aircraft are used to stop the spread of fire in the forests and minimize the damage. As a result, a growing number of wildfires will increase the demand for firefighting aircraft.
For instance, according to BBC News, a UK-based broadcasting company, in January 2020 more than 50 fires raged throughout the states of New South Wales and Victoria, destroying 11 million hectares of forest. This wildfire has destroyed over 2000 homes. When compared with previous years, climate damage increased by 20% for the year 2020. Therefore, the growing number of wildfires is driving the growth of the firefighting aircraft market.
The global firefighting aircraft market share is expected to grow from $7.11 billion in 2021 to $7.73 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The global firefighting aircraft industry growth is expected to reach $9.60 billion in 2026 at a CAGR of 5.6%.
New product innovations have emerged as the key trend gaining popularity in the firefighting aircraft market. Major companies operating in the firefighting aircraft market are focused on new product innovations to meet consumer demand. For instance, in August 2020, Arcus Fire, a US-based company that manufactures firefighting aircraft, launched a new firefighting aircraft called the F-45 turboprop based on prototype technology. It is a clean-sheet, single-engine turboprop that is specially designed for firefighting. This aircraft was capable of carrying 4,500 liters of water at a time. The F-45 is projected to have a maximum cruise speed of 350km per hour and cover a range of 1,852km.
Major players in the firefighting aircraft market are Airbus SE, Coulson Aircrane Ltd., Kaman Corporation, Lockheed Martin Corporation, ShinMaywa Industries Ltd., Textron Inc., Viking Air Ltd., Rockwell Automation Inc., Boeing Commercial Airplanes, Bombardier Inc., Siemens AG, Conair Group Inc., Sabena Technics, AeroFlite, and Canadair.
The global firefighting aircraft market analysis report is segmented by type into fixed wing, multi-rotor; by water capacity into less than 5,000 L, 5,000–10,000 L, more than 10,000 L; by application into firefighting organizations, military, others.
Asia-Pacific was the largest region in the firefighting aircraft market in 2021. North America was the second largest region in the global firefighting aircraft market. The regions covered in the global firefighting aircraft market outlook are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Firefighting Aircraft Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide firefighting aircraft market overviews, firefighting aircraft market analyze and forecast market size and growth for the whole market, firefighting aircraft market segments and geographies, firefighting aircraft market trends, firefighting aircraft market drivers, firefighting aircraft market restraints, firefighting aircraft market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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