In 1851, inventor and physician Dr. John Gorrie received a patent for an “improved process for the artificial production of ice.” The global ice maker market size is expected to reach over $3 billion by 2028.
In 1904, inventor John Korbel received a patent for the “doughnut frier and drainer.” In 2020 alone, over 200 million Americans consumed doughnuts, which is expected to rise to almost 207 million by 2024. Additionally, the U.S. market size of doughnuts reached over $7 billion in 2021.
In 1906, the “Wright Brothers,” Wilbur and Orville Wright, received a patent for their invention, the “flying-machine.” Since the Wright Brothers’ pioneering invention enabling human flight, the airline industry has grown exponentially. The global market size of airline manufacturing reached over $410 billion in 2021 and is expected to rise to over $626 billion by 2030.