- Backcountry aircraft designer and manufacturer CubCrafters is riding tailwinds from the COVID-boosted interest in exploration travel away from populated centers
- The Washington-based company has spent the last 40 years building on its love for the classic Piper PA-18 Super Cub personal airplane, developing new models ranging from experimental to LSA with varied configurations
- CubCrafters recently announced it has filed for Reg A funding status with the SEC, opening the door to potential public backing of its operational strategy as the popularity of light aircraft soars
- The announced Reg A filing attracted $5 million in reservations during the first 48 hours, one-tenth of the company’s ultimate starting goal if the Reg A offering is qualified by the SEC
- Market analysts forecast continued enthusiasm for the light aircraft market, growing at a CAGR of 5.9 percent from 2022 to 2030 for sales of $11.9 billion
From “Deliverance” to “The Revenant,” Hollywood seems to often evince the idea that the wilderness can be a brutal place, but the modern-day reality is that the backcountry wilderness can afford a peaceful escape as well as a bit of adventure that generally is much tamer than the hardships Hollywood envisions. Most people who visit the backcountry are more intent on enjoying the wilderness than getting into trouble out there (https://ibn.fm/Hs6HY), although there will always be a need for caution to avoid getting into “survival situations” (https://ibn.fm/YrUFE).
Yakima, Wash.-based aircraft manufacturer CubCrafters is making it more possible than ever for dedicated backcountry enthusiasts to pursue their passion for a peaceful pause by advancing light aircraft design based on the legacy of the classic Piper PA-18 Super Cub.
CubCrafters is building on 40 years of experience from delivering these best-in-class personal airplanes that have evolved to include the company’s own new designs in the Experimental, LSA, and Part 23 Certified aircraft categories.
“While our engineering has further improved (short takeoff and landing, or STOL) performance, we have also focused on improving every aspect that makes the Super Cub platform uniquely capable,” the company’s website states (https://ibn.fm/aGCTc). “The result is a range of modern adventure aircraft that are designed and engineered for backcountry flying.”
CubCrafters’ seven models now include aircraft configured with nosewheel and tailwheel landing gear, floats, and even skis for an array of options when backcountry exploring.
“The market for bush planes] really has exploded,” Vice President of Sales and Marketing Brad Damm told The Bell2Bell Podcast recently (https://ibn.fm/nFZ7v), adding that COVID restrictions on public gatherings led many people who would normally have been enjoying popular travel getaways to instead seek out more private, personal goals in venturing away from populated centers.
And that resulted in many travelers taking a crack at getting licensed as private pilots. Market analysts see the momentum continuing, with light and ultralight aircraft revenues expected to hit $11.9 billion by 2030 (https://ibn.fm/HG5bC).
As CubCrafters enters its fifth decade, the company has decided to open itself up to public ownership, filing for a Reg A funding plan in August with the U.S. Securities and Exchange Commission (“SEC”).
Announcement of the application was met with excitement, pulling in $5 million in reservations for 1 million potential shares of stock during the first 48 hours. The company’s ultimate goal is to obtain $50 million in public backing through the funding vehicle (https://ibn.fm/eoPeE).
“This level of interest from the aviation community and the general public tells us that they see real value in our company and want to help it grow,” Damm stated.
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://ibn.fm/CUB
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