Amphibious Aircraft Market Booming with 12.1% CAGR, Projected to Hit $502 Million by 2031

According to a new report published by Allied Market Research, titled, "Amphibious Aircraft Market Size, Share, Competitive Landscape and Trend Analysis Report, by Aircraft Type, by Engine Type, by End Use: Global Opportunity Analysis and Industry Forecast, 2021-2031." The amphibious aircraft market was valued at $164.4 million in 2021, and is estimated to reach $502 million by 2031, growing at a CAGR of 12.1% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

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An amphibious aircraft or seaplane is a type of aircraft that can take-off and land on solid surfaces and waterways. These aircraft are used for numerous civil & military applications. They are also known as seaplanes that can perform search-and-rescue operations, firefighting, patrolling in the maritime economic zone, environmental monitoring, military, special tasks, and cargo and passenger operations. Fixed-wing amphibious aircraft are seaplanes equipped with retractable wheels, at the expense of extra weight and complexity, plus diminished range and fuel economy compared to planes designed specifically for land-only or water-only operation. Some amphibians are fitted with reinforced keels which act as skis, allowing them to land on snow or ice with their wheels up.

Moreover, the market is witnessing suitable growth in recent years, owing to the increase in contracts and aircraft deliveries across the globe. Moreover, the key manufacturers operating in the industry have been inclined towards developing superior quality efficient amphibious aircraft which can be used in all conditions and can take-off & land in water as well as ice and land. For instance, in March 2020, Dornier Seawings developed the prototype SN1003, new generation of the Dornier Seastar amphibious aircraft successfully performed its first flight at Oberpfaffenhofen EDMO airport, Germany. The new generation Seastar is significantly improved from the original Seastar. Similarly, in April 2020, Norwegian start-up Equator Aircraft announced that it has developed a small family of all-electric amphibians to provide sustainable alternative to the noisy and costly types serving the owner-flyer and commercial passenger transport markets. Such developments create a wider scope for the growth of the market across the globe.

The amphibious aircraft market is segmented into aircraft type, engine type, end-use, and region. By aircraft type, the market is classified into fixed wing, and rotary wing. On the basis of engine type, it is segregated into turboprop, and turbine. Depending on end-use, it is bifurcated into Civil Aviation, general aviation and military aviation. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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.

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.

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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.

Analyst Review:

This section provides the opinions of various top-level CXOs of the leading companies, suitability for offshore applications, where unavailability of a landing surface, the aircraft has to be landed on water, resulting in which create the need for amphibious aircrafts. Amphibious aircrafts are preferable in large-scale operations with suppressing forest fires, passenger transport, maritime patrols, and search & rescue missions. In addition, it offers important operation in complex weather and environmental circumstances. For instance, in April 2020, Norwegian start-up Equator Aircraft developed all-electric amphibians to provide sustainable alternative to the noisy and costly types serving the owner-flyer and commercial passenger transport markets. Such factors are expected to fuel the growth of the market during the forecast period. Furthermore, in September 2022, Japan's ShinMaywa Industries announced the maiden flight of its unmanned flying boat XU-M (experimental unmanned / utility aircraft). It has been developed with the aim of promoting research related to sensing and control of remotely operated amphibian aircraft. These initiatives will significantly improves efficiency, reliability and safety, and positively impacts key future initiatives such as decarbonization, diversity and inclusion, autonomous technologies and local capability development.

Key Finding of the Study:

• By aircraft type, the fixed wing segment is projected to dominate the global market in terms of growth rate.
• By engine type, the turboprop segment is projected to dominate the global amphibious aircraft market in terms of growth rate.
• By end use, the general aviation segment is projected to dominate the global market in terms of growth rate.

Key Benefits For Stakeholders

• This study presents an analytical depiction of the global amphibious aircraft market analysis along with current trends and future estimations to depict imminent investment pockets.
• The overall amphibious aircraft market opportunity are determined by understanding profitable trends to gain a stronger foothold.
• The report presents information related to the key drivers, restraints, and opportunities of the global amphibious aircraft market with a detailed impact analysis.
• The current amphibious aircraft market are quantitatively analyzed from 2022 to 2031 to benchmark the financial competency.
• Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.

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