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PORTLAND, OREGAON, UNITED STATES, July 2, 2024 /EINPresswire / -- According to a recent report published by Allied market Research, titled,“Firefighting Aircraft Market by Type, Service Provider, Max. Takeoff Weight, and Water Capacity: Global Opportunity Analysis and industry Forecast, 2021–2030,” The global firefighting aircraft market was valued at $8.85 billion in 2020, and is projected to reach $16.47 billion by 2030, registering a CAGR of 6.5% from 2021 to 2030.
Asia-Pacific dominates the market, in terms of revenue, followed by North America, Europe, and LAMEA. China dominated the global firefighting aircraft market share in 2020. South Korea is expected to grow at a significant rate during the forecast period, owing to increase in demand for aircraft designed to tackle fire incidents across the country.
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Leading Market Players :
AeroVironment, Inc.,
Airbus SE,
Bombardier,
Coulson Aircrane LTD.,
Kaman Corporation,
Lockheed Martin Corporation,
SAAB,
ShinMaywa Industries Ltd.,
Textron Inc.
Viking Air Ltd
Firefighting aircraft are special type of aircrafts which are used to tackle forest, industrial and other types of life threatening fire incidents which take place at different locations. These aircrafts are designed in such a way that store a huge amount of water or other fire retarding chemical and during their flight, they sprinkle or bomb water over fire affected location to control the fire from further spread. Companies have been developing a wider range of firefighting aircrafts which has the ability to operate efficiently in handling fire situations and at the same time are used for numerous rescue operations.
Firefighting aircrafts are designed in such a way that they can refill their storage tanks multiple times during a single flight through available water source such as sea, river, ponds or similar sources. Since firefighting aircrafts include helicopters, key manufacturers operating toward developing helicopters have transformed their existing helicopter lineup so that they can be used in firefighting applications. Meanwhile, governments across the globe are also transforming their existing aircraft fleet into firefighting aircrafts, which can be used in all such situations.
In addition, numerous product developments & launches have been carried out by key companies such as Airbus, Lockheed Martin Corporation Kaman Corporation and others which also supplements the growth of the market across the globe. For instance, since June, 2021, Airbus is developing A400M aircraft, which is expected to soon be used as a fire fighting aircraft. In addition, in May, 2021, Airbus launched H215 helicopters, which has the capability to operate continuously in all working environment and can operate 365 days a year. Such developments carried out by other companies supplements growth of the market across the globe.
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The global firefighting aircraft market size is segmented into type, service provider, max. takeoff weight, water capacity, and region. By type, the market is segmented into fixed wing and multi-rotor. By service provider, it is segmented into firefighting organizations and military. By max. takeoff weight, the global market has been segmented into below 50,000 kg and above 50,000 kg. By water capacity, it is segmented into less than 5,000 ltr, 5,000 –10,000 ltr, and more than 10,000 ltr. By region, the global market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Factors such as use of general aircrafts to extinguish wildfire and increase in fire-related incidents in the oil & gas industry supplements growth of the market by increase in demand for efficient firefighting aircrafts. Moreover, delayed delivery of aircraft and high capital requirement creates barrier for growth of the market. However, entering into contract & agreements for long-term business opportunities and incorporation of new technologies to put out fire creates ample opportunities for growth of the market during the forecast period.
COVID-19 Impact Analysis :
The COVID-19 virus has spread worldwide without acknowledging borders. It has impacted all industries, sectors, and all aspects of lives with devastating economic and financial losses with significant uncertainties.
The global aviation industry is concerned with manufacturing and operations of all types of aircraft and related services during transportation.
Effect of COVID-19 on the aviation industry can be observed in each region including North America, Europe, Asia-Pacific, and rest of the world.
In the U.S., since the national health emergency due to the COVID-19 outbreak, most of the region is on complete lockdown, which, in turn, restricts domestic and international travel in the country.
In addition, change in behavior of passengers following the COVID-19 crisis, travel restrictions, and economic crisis have resulted in a dramatic drop in demand for airline services.
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Key Findings Of The Study :
By type, the multi-rotor segment is expected to register a significant growth during the forecast period.
Depending on service provider, the military segment is anticipated to exhibit significant growth in the future.
By max. takeoff weight, the above 50,000 kg segment is anticipated to exhibit significant growth in the future.
By water capacity, the 5,000–10,000 ltr segment is anticipated to exhibit significant growth in the future.
LAMEA is anticipated to register the highest CAGR.
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About us :
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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