- The market for light and ultralight aircraft is expected to grow at a CAGR of 5.9 percent between 2022 and 2030, achieving sales of $11.9 billion
- Backcountry aircraft developer CubCrafters is awaiting SEC qualification for a public offering, to take advantage of rising interest in this sector of the aviation industry
- The Yakima, Wash.-based company has been building airplanes modeled on the classic Piper PA-18 Super Cub for over 40 years and has advanced to designing its own aircraft based on the same legacy
Yakima, Wash.-based aircraft manufacturer CubCrafters has started a takeoff roll toward blue skies that offer the potential promise of corporate development through public investment.
The popular light aircraft designer and builder has enjoyed over 40 years of producing best-in-class backcountry aircraft that began with the legacy of the classic Piper PA-18 Super Cub and progressed to include its own new designs in the Experimental, LSA, and Part 23 Certified aircraft categories.
It announced in July that it is taking reservations from potential investors as it awaits qualification by the U.S. Securities and Exchange Commission (“SEC”) for a public stock listing. This news was met by immediate enthusiasm from the investment community as evidence of the expectations for the backcountry aircraft market’s continued growth (https://nnw.fm/ERlYT).
“[The market for bush planes] really has exploded,” CubCrafters Vice President of Sales and Marketing Brad Damm said in a recent interview with The Bell2Bell Podcast (https://nnw.fm/vIFfZ).
“The airplanes have always been used for utility — for delivering mail to remote communities, for medevac missions, for search-and-rescue, for law enforcement,” Damm added. “What’s really changed in the last 10 or 20 years is people have come into this type of flying for recreational purposes, for fun — to access the backcountry where you can fly into the Idaho wilderness and land on a remote airstrip and be dozens or hundreds of miles away from anyone and have that country, that access all to yourself. Or if you have a cabin on a remote lake you can take one of these airplanes, you can put it on pontoons, on floats. You can land on the water, taxi up to your dock and have that sort of access.”
Damm said that during COVID restrictions on public tourism, a large new segment of customers took interest as they looked for private travel alternatives and began filling bucket list plans. Because the airplanes have become easier to fly over the years and are “safer than ever before” with better performance, people began to feel more confident in their ability to pursue their aviation goals.
Damm highlighted his own life path as a realization of the freedom to pursue those interests.
“I started taking flight lessons back when I was in college. The outdoors always appealed to me,” he said. “I’ve been flying these airplanes for between 25 and 30 years.”
Damm also noted that despite COVID and European war-related challenges that have made it difficult for many companies to get products they need and deliver them to their customers, CubCrafters has been able to continue operating smoothly.
“Our biggest challenge in 2022 has been supply chain issues,” he said. “We’ve been really fortunate that we’ve been able to overcome them. … We’ve actually managed to accelerate our manufacturing during this time period of supply chain challenges because the customer demand has been there.”
ResearchandMarkets.com analysts are predicting that the market for light and ultralight aircraft will continue to soar higher at a CAGR of 5.9 percent between now and the end of the decade, achieving $11.9 billion in sales by 2030 (https://nnw.fm/fDstN).
For more information, visit the company’s website at www.CubCrafters.com.
NOTE TO INVESTORS: The latest news and updates relating to CubCrafters Inc. are available in the company’s newsroom at https://nnw.fm/CUB
About NetworkNewsWire
NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 50+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.networknewswire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is part of the InvestorBrandNetwork
