Dublin, Nov. 08, 2022 (GLOBE NEWSWIRE) -- The "Firefighting Aircraft Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global firefighting aircraft market 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 firefighting aircraft market is expected to grow to $9.60 billion in 2026 at a CAGR of 5.6%.
Asia Pacific was the largest region in the firefighting aircraft market in 2021. North America was the second largest region in the firefighting aircraft market. The regions covered in the firefighting aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing number of wildfires is expected to propel the growth of the firefighting aircraft market going forward. A wildfire refers to an unplanned fire that fires in natural areas such as forests or grassland. 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 have 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 to 20% for the year 2020. Therefore, the growing number of wildfires is driving the growth of the firefighting aircraft market.
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 F- 45 turboprop based on prototype technology.
It is a clean-sheet single-engined 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 covers 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
- Canadair
For more information about this report visit https://www.researchandmarkets.com/r/91yzyz
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