LONDON--(BUSINESS WIRE)--The global amphibious aircraft market is expected to post a CAGR of nearly 5% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the growing concerns in maritime security. Oceans are an integral part of the world economy for the several tangible and intangible resources they provide along with being a widely-used platform for transportation. Maritime policy and armed robberies are two major hindrances that impact global maritime trade and security. Hence, order and security in the high seas can be considered as one of the core pillars for sustainable wealth generation.
This market research report on the global amphibious aircraft market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the use of advanced techniques for aircraft construction as one of the key emerging trends in the global amphibious aircraft market:
Global amphibious aircraft market: Use of advanced techniques for aircraft construction
The need to design and produce extremely high-performing aeronautical shapes within a weight constraint is the main motivator for aircraft manufacturers to use composite materials in aircraft structures. Carbon fiber-reinforced polymer is the most-preferred composite used in the aircraft industry. It provides the same mechanical strength as metal while being lightweight. Thus, this material aids in reducing fuel consumption of an aircraft. The use of composites reduces overall weight and contributes toward fuel savings as the aircraft can sustain flights for longer durations at lower fuel consumption levels due to a reduction in the gross weight.
“The advent of 3D-printing has enabled designers to come up with unconventional design configurations, which would otherwise have been impossible to achieve. Components or the aircraft can be fully 3D printed with negligible loss of material as waste. The electric aircraft industry depends on 3D-printing for rapid production of aircraft components, saving time, money, and space,” says a senior analyst at Technavio for research on aerospace.
Global amphibious aircraft market: Segmentation analysis
This market research report segments the global amphibious aircraft market by application (military and civil) and geographical regions (APAC, EMEA, and the Americas).
The military segment held the largest market share in 2018, accounting for nearly 61% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with a market share of nearly 53%. This region is expected to dominate the market through 2023, however, there will be a decrease in its market share by nearly 3%.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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