Yahoo Finance Amphibious Aircraft Market to Generate $502.02 Million by 2031: Allied Market Research
The surge in tourism increased inclination towards commercial applications, and continuous defense budget allocation & procurement of next-gen seaplanes drive the global amphibious aircraft market. Based on region, Europe held the largest share in 2021, contributing to nearly half of the global amphibious aircraft market share.
Portland, OR, Jan. 27, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global amphibious aircraft market garnered $164.35 million in 2021 and is estimated to generate $502.02 million by 2031, manifesting a CAGR of 12.1% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
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Report coverage & details:
Report Coverage | Details |
Forecast Period | 2022–2031 |
Base Year | 2021 |
Market Size in 2021 | $164.35 million |
Market Size in 2031 | $502.02 million |
CAGR | 12.1% |
No. of Pages in Report | 309 |
Segments Covered | aircraft type, engine type end use, and region |
Drivers | Increase in tourism |
Opportunities | The growing focus of transportation companies on aircraft acquisition to increase air transportation |
Restraints | Rising number of aircraft accidents |
Covid-19 Scenario:
The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global amphibious aircraft market, owing to the implementation of global lockdown which resulted to hamper the tourism industry.
Lockdown imposed globally affected the domestic as well as international production of amphibious aircraft, which, in turn, hampered the growth of the overall market.
Supply chain was disrupted due to import & export restrictions. Manufacturers faced a shortage of labor and unavailability of raw materials.
The amphibious aircraft market has a high scope of growth opportunities in the future due to the increased demand for sea tourism as well as the introduction of tourist spots at sea locations.
The research provides detailed segmentation of the global amphibious aircraft market based on aircraft type, engine type, end-use, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on aircraft type, the fixed wing segment held the highest share in 2021, accounting for more than two-thirds of the global amphibious aircraft market, and is expected to continue its leadership status during the forecast period along with the highest CAGR of 12.6% from 2022 to 2031.
Based on engine type, the turboprop segment accounted for the highest share in 2021, contributing to around 90% of the global amphibious aircraft market, and is expected to maintain its lead in terms of revenue during the forecast period and is expected to manifest the highest CAGR of 12.4% from 2022 to 2031.
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Based on end use, the civil aviation segment accounted for the highest share in 2021, holding more than one-third of the global amphibious aircraft market. Meanwhile, the general aviation segment is expected to continue its leadership status during the forecast period in terms of revenue and is estimated to grow at the highest CAGR of 12.5% during the forecast period.
Based on region, Europe held the largest share in 2021, contributing to nearly half of the global amphibious aircraft market share. Meanwhile, North America is projected to maintain its dominant share in terms of revenue in 2031. In addition, the LAMEA is expected to manifest the fastest CAGR of 14.6% during the forecast period.
Leading market players of the global amphibious aircraft market analyzed in the research include Aero Adventure LLC, Airtime Aircraft Inc, Atol Aviation, BERIEV, Aircraft Company, China Aviation Industry Corporation, Dornier Seawings GmbH, Equator Aircraft AS, ICON Aircraft, Inc., Lisa Airplanes, and ShinMaywa Industries.
The report provides a detailed analysis of these key players in the global amphibious aircraft market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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