SEATTLE, Sept. 13, 2007 (PRIME NEWSWIRE) -- Exosphere Aircraft Company, Inc., (Pink Sheets:EXSA) and the BD-22, designed by legendary aircraft designer Jim Bede, expect to benefit from new statistics revealing record sales and projected growth in the light-sport aircraft (LSA) market.
* At an average of $100,000 per aircraft, the National Consortium for Aviation Mobility, NCAM, anticipates the light-sport aircraft industry to grow to $2.5 billion over the next ten years in the United States alone. * The results from the FAA's Forecast Conference of 2007 include a 1,730 percent increase in the number of new sports pilots that will be certified during the next 15 years. * The light-sport aircraft industry's near-term growth exceeds that of recreational vehicles, motorcycles, and watercraft combined.
This increased public interest in aviation, resulting from the newly simplified and inexpensive availability of LSA's, establishes light-sport aircraft as the fastest growing segment in aviation. Oshkosh AirVenture, the United States' largest fly-in, set record attendance levels this year estimated at 560,000 attendees, a 3.2 percent increase from 2006. Based on historic figures and reputation, it's expected that the BD-22 will be a top-seller and should be able to monetize a substantial portion of the LSA market. Exosphere is targeting the two most dynamic sectors of the market: the entry level market with the standard edition BD-22 and the high end with the Limited Edition BD-22S design.
About Exosphere Aircraft Company
Exosphere Aircraft Company is a light-sport aircraft design and manufacturing company, pioneering new and innovative airplanes for the private builder, bringing the best and most affordable light-sport planes to market. Exosphere offers the marketplace planes that meet the majority of consumer needs, finding ways to incorporate fuel efficiency, weight limitations, plane performance and current design trends.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements, including statements regarding Exosphere's expectations about successfully designing and manufacturing aircraft, expanding business and securing additional customers for its products. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to differ from future results expressed or implied. These risks and uncertainties include the inability to manage expected growth, the failure to meet scheduled manufacturing deadlines, the failure to realize increased revenues and improved operating margins that the Company has associated with the sales of aircraft and airplane parts, the loss of key personnel, tightening aircraft regulations by the FAA, the loss or non-performance of sales representatives, unfavorable results of existing and potential litigation, and the possibility that competitors could develop aircraft designs or manufacturing practices that erode Exosphere's favorability in the marketplace. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements. Innovative Communications Technologies, Inc. (Pink Sheets:ICTN) owns 70 million shares, or approximately 30% of Exosphere Aircraft Company, Inc. (Pink Sheets:EXSA).