LONDON, June 23, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the firefighting aircraft market, the increasing number of wildfires is expected to propel the growth of the firefighting aircraft market. against fires in the future. Wildfires are unintentional fires that occur in natural places such as forests or grasslands. Wildfires are caused by human activity or a natural phenomenon like lightning, and they can happen anytime and anywhere. Firefighting aircraft are used to stop the spread of fire in forests and minimize damage. As a result, an increasing number of wildfires will increase the demand for firefighting aircraft.
For example, according to BBC News, a UK-based broadcasting company, in January 2020 more than 50 fires raged across the states of New South Wales and Victoria, destroying 11 million hectares of forest. . This forest fire destroyed more than 2,000 homes. Compared to previous years, climate damage has increased by 20% for the year 2020. Hence, the increasing 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%. Global firefighting aircraft industry growth is expected to reach $9.60 billion in 2026 at 5.6% CAGR.
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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 focusing on new product innovations to meet consumer demand. For example, in August 2020, Arcus Fire, an American company that manufactures firefighting aircraft, launched a new firefighting aircraft called the F-45 turboprop based on prototype technology. It is a single-engine turboprop designed entirely specifically for firefighting. This aircraft was capable of carrying 4,500 liters of water at a time. The F-45 should have a maximum cruising speed of 350 km per hour and cover a range of 1,852 km.
The 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 in less than 5,000 L, 5,000 to 10,000 L, more than 10,000 L; by application in firefighting, military, other organizations.
Asia Pacific was the greater region in the Firefighting Aircraft Market in 2021. North America was the second largest region in the global firefighting aircraft market. Regions covered in the global fire fighting aircraft market outlook are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle -East and Africa.
Global Fire Fighting Aircraft Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports from The Business Research Company that provide insights into the Fire Fighting Aircraft Market Fire Fighting Aircraft, Analyze the Fire Fighting Aircraft Market and forecast the market size and growth for the overall market, Fire Fighting Aircraft Market segments and geographies, Fire Fighting Aircraft Market trends Fire Fighting Aircraft Market Drivers, Fire Fighting Aircraft Market Constraints, Revenues, Profiles and Market Share of Fire Fighting Aircraft Market Top Competitors in 1000+ Reports industry, covering more than 2,500 market segments and 60 geographies.
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
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