Firefighting Aircraft Market is Projected to Grow Expeditiously: to Reach USD 116.2 Billion by 2032, Report

Allied Market Research published a report, titled, "Firefighting Aircraft Market by Aircraft Type (Fixed-Wing and Rotorcraft), Tank Capacity (Less Than 10,000 Liters, 10,000 to 30,000 Liters, and More Than 30,000 Liters), Maximum Takeoff Weight (Less Than 8,000 Kg, 8,000 to 30,000 Kg, and More Than 30,000 Kg), and Range (Less Than 1,000 Km, 1,000 To 3,000 Km, and More Than 3,000 Km): Global Opportunity Analysis and Industry Forecast, 2023-2032".

According to the report, the global firefighting aircraft industry size generated $9.0 billion in 2022 and is anticipated to generate $16.2 billion by 2032, witnessing a CAGR of 6.3% from 2023 to 2032.

Prime Determinants of Growth

The growth of the global firefighting aircraft market is driven by factors such as rise in the frequency and severity of wildfires, increase in government investment and funding, environmental awareness, and climate change. However, high acquisition and operational costs, and limited availability of specialized aircraft hamper the growth of the market. On the contrary, technological advancements in aerial firefighting systems, coupled with R&D of sustainable fire retardants are expected to offer remunerative opportunities for the expansion of the firefighting aircraft market during the forecast period.

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Impact of Russia-Ukraine War Scenario

On February 24, 2022, Russia invaded Ukraine, leading to the Russo-Ukrainian war that began in 2014. The geopolitical conflicts arisen have created global economic uncertainties. In times of economic unpredictability, government budgets may be affected, potentially influencing the allocation of funds for firefighting endeavors. This, in turn, could impact the procurement and upkeep of firefighting aircraft.
Moreover, the firefighting aircraft industry has been adversely affected by the conflict between Russia and Ukraine, mainly because of supply chain disruptions involving essential raw materials. The supply chain of Russia, a significant manufacturer of titanium, a substance that is frequently used in the aerospace industry due to its strength and low weight, especially in widebody aircraft, has been impacted. It has been difficult for the big aircraft manufacturers, such as Boeing and Airbus SE, to get a steady supply of titanium.
The fixed-wing segment to maintain its leadership status throughout the forecast period

On the basis of aircraft type, the fixed-wing segment held the highest market share in 2022, accounting for more than half of the global firefighting aircraft market revenue, and is estimated to maintain its leadership status throughout the forecast period, as there is rise in the utilization of fixed-wing firefighting aircraft due to its benefits such as high speed, efficiency, and large capacity. However, the rotorcraft segment is projected to manifest the highest CAGR of 7.1% from 2023 to 2032, owing to their unique capabilities such as adaptability to diverse situations, and quicker response time in firefighting missions.

Recent Developments in the Firefighting Aircraft Sector

Lockheed Martin, in August 2021, secured a contract from United Rotorcraft for five S-70 Black Hawk helicopters, dedicated to supporting aerial firefighting operations during wildland fires.
Kaman Corporation, in October 2022, received a purchase agreement from North American Helicopter for a K-MAX medium-to-heavy lift helicopter.
Kaman Corporation announced its intention, in May 2022, to acquire Parker-Hannifin Corporation's Aircraft Wheel & Brake division for $440 million.
Coulson Aviation, in August 2023, was selected for an indefinite delivery/indefinite-quantity contract, involving C-130H Hercules and Boeing 737 Fireliner aircraft, providing maintenance support.
Coulson Aviation secured a $16 million firefighting contract in November 2023, extending support for Southern California's Quick Reaction Force throughout 2024, with potential extension into 2025.
In the same month, Coulson Aviation secured a three-year firefighting contract with Corporación Nacional Forestal (CONAF) of Chile, deploying a C-130H Hercules Large AirTanker and a Citation 550 air attack lead plane.
In July 2022, Coulson Aviation introduced its latest aerial firefighting tanker, converted from a Boeing 737.

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North America to maintain its dominance by 2032

On the basis of region, North America held the highest market share in terms of revenue in 2022, accounting more than two-fifths of the firefighting aircraft market revenue, and is expected to dominate the market during the forecast period, as there is increased demand for firefighting aircraft due to rise in the frequency and intensity of wildfires. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.8% from 2023 to 2032, owing to surge in the initiatives, funding, and support for firefighting agencies.

Report Key Highlights:
The analysis of the firefighting aircraft market encompasses over 15 countries, offering a country-by-country breakdown in terms of value ($ million) for the forecast period 2022-2032.
The research employs a robust methodology, combining high-quality data, professional opinions, and independent perspectives to present a balanced global market view.
The comprehensive review of over 3,700 product catalogs, annual reports, industry descriptions, and resources from industry leaders enhances understanding and facilitates informed decision-making for ambitious growth objectives.

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Leading Market Players: -
Lockheed Martin Corporation
Bombardier Inc.
Airbus SE
Kaman Corporation
Coulson Group
Viking Air Ltd.
Saab AB
ShinMaywa Industries, Ltd.
Conair Aerial Firefighting
Textron Inc

Know More https://www.globenewswire.com/news-release/2024/02/13/2827955/0/en/Firefighting-Aircraft-Market-to-Garner-16-2-Billion-Globally-by-2032-at-6-3-CAGR-Allied-Market-Research.html

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