The amphibious aircrafts are the aircrafts that can take off and land on both land and water. The amphibious aircrafts are also known as seaplanes and are equipped with retractable wheels and hulls. These hulls help the amphibious aircrafts to traverse through water during takeoff or land. Some of the amphibious aircrafts are also fitted with keels which allow them to ski on the ice during takeoff or land. The amphibious aircrafts are used for tourism, surveillance, and fire fighting among others. The amphibious aircrafts are built with high wings and mainly turboprop engines are fitted on the planes.
The major factor driving the market for amphibious aircraft is the huge investments in the Asia Pacific region owing to the modernization initiatives. Countries such as China, India, Japan, and Singapore are investing huge amounts in manufacturing or procuring the amphibious aircrafts for the commercial as well military purpose. India and Japan recently, signed an agreement in which Japan will sell 12 numbers of amphibious aircrafts to India which will cater the purpose of surveillance, search and rescue operations. Moreover, the commercial sectors in Asia Pacific such as tourism and commercial airlines are also demanding for amphibious aircrafts in order to increase their fleets in the water filled regions.
The limited operational capabilities are restricting mass procurement of amphibious aircrafts globally, which is hindering the growth of global market for amphibious aircrafts. Amphibious aircrafts requires specialized trained pilots and the defense forces across the globe lack these special training simulators, which is limiting the mass procurement of amphibious aircrafts. Moreover, low European defense spending is also inhibiting the swift growth of the market for amphibious aircrafts. European defense is among the largest contributors in the global defense economy, however, it has been noted that European defense is investing less amount in procuring the amphibious aircrafts, which is acting as restraining factor to the amphibious aircraft market.
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The market for amphibious aircrafts possesses potential opportunity for growth in future such as change in warfare systems from conventional to asymmetric tactics. The global warfare has changed a lot recently, and the modern warfare is about using the latest technologies to demolish the enemies. The amphibious aircrafts plays a vital role in the modern warfare as it can be operated on land as well as in the mid ocean. This factor is impacting hugely on the defense industry across the globe. Another prominent opportunity for the growth of amphibious aircrafts market is the advent of technologies which is beneficial for the amphibious aircrafts. The latest and robust technologies can be used to maintain, repair and overhaul the amphibious aircrafts. The advent of robust technologies in the MRO sector is poised to boost the market for amphibious aircrafts.
The market for amphibious aircraft is segmented by end users, by applications and by geography. The end users of the amphibious aircrafts are the commercial airlines, and the naval forces and the coast guards. Based on applications, the amphibious aircraft market is segmented as tourism, surveillance, search and rescue operations, and fire-fighting. Among different applications, surveillance held the largest market followed by search and rescue operations; however, tourism is estimated to grow at a higher pace. Geographically, the market for amphibious aircrafts is categorized as North America, Europe, Asia Pacific, Middle East and Africa and Latin America. The largest market for amphibious aircrafts is captured by North America, whilst Asia Pacific is the fastest growing region the amphibious aircrafts market.
