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Aircraft Evacuation Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2029

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Global Aircraft Evacuation Market value over USD 3.2 billion by 2029 end and register a CAGR of over 5.4% from 2019 to 2029. The rise in air traffic paired with increasing procurement of new aircraft has driven growth in the aircraft evacuation mark
Aircraft Evacuation Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2029
Global Aircraft Evacuation Market value over USD 3.2 billion by 2029 end and
register a CAGR of over 5.4% from 2019 to 2029.
The rise in air traffic paired with increasing procurement of new aircraft has driven
growth in the aircraft evacuation market. Furthermore, increasing safety
requirements by the regulatory authorities are opportunistic for the aircraft
evacuation market growth.
Governments across the globe are mandating airline operators to equip safety
technologies for enhancing passenger safety. For instance, in 2015, the Federal
Aviation Administration (FAA) proposed the fixing of escape slides in more than 300
jetliners of the Boeing 767 aircraft for improving passenger safety. The slides are
equipped to prevent premature deployment and offer enhanced safety to
passengers in case of any emergencies, providing growth prospects for the market
expansion.
Higher costs associated with the flight crew training and issues related to the
reliability of the aircraft evacuation systems may restrict the market place over the
forecast timeframe. However, industry participants are developing lightweight
solutions along with automated technologies for lowering the overall costs, thereby
providing a positive outlook for the aircraft evacuation market proliferation.
Increasing aircraft orders from multiple government organizations for improving
their military are boosting the industry share. For instance, in 2018, the Indian Air
Force launched an ambitious program to purchase 110 military fighter jets on
request for information (RFI) contract from global manufacturers including Lockheed
Martin Corporation, Boeing, and Dassault Aviation, thereby providing significant
growth prospects for the industry proliferation.
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Market Segmentation:
1. By Equipment Type
●
Life Vest
●
Evacuation Slide
●
Ejection Seat
●
Evacuation Raft
●
Emergency Flotation
2. By Aircraft Type
●
Narrow Body Aircraft
●
Wide-Body Aircraft
●
Very Large Aircraft
●
Business Jet
●
Regional Transport Aircraft
●
Fighter Jet
●
Helicopter
3. By Fit
●
Linefit
●
Retrofit
4. By Region
●
North America
●
Europe
●
Asia Pacific
●
Latin America
●
Rest of the World
North America aircraft evacuation held the highest market share. This share is
attributed to the presence of multiple aircraft manufacturers such as Boeing, United
Technologies, Lockheed Martin, and General Dynamics Corporation. Increasing focus
on lightweight evacuation systems and advanced technologies with the ability to
sense the ground and automatically adjust length are positively influencing the
regional demand. Moreover, increasing aircraft production and delays associated
with aircraft deliveries and backlogs are positively influencing the market expansion.
The Asia Pacific holds a substantial share in the market owing to proliferating air
traffic along with improving Intra and inter-region route connectivity across the
region. Favorable demographic trends such as the growing middle-class population
and rising discretionary spending are positively influencing the industry growth. For
instance, according to the International Civil Aviation Organization (ICAO), Asia
Pacific is projected to witness annual air passenger traffic growth of around 6.5% by
2032.
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Competitive Landscape:
●
Tier 1 players- established companies in the market with a major market share
●
Tier 2 players
●
Emerging players which are growing rapidly
●
New Entrants
Major firms in the aircraft evacuation market place include Zodiac Aerospace, EAM
Worldwide, UTC Aerospace, NPP Zvezda, Martin Baker, Survitec Group, Switlik,
Trelleborg, and DART Aerospace. Industry players are undergoing mergers and
acquisitions to strengthen their foothold in the market. For instance, in October
2018, Safran signed a strategic agreement to acquire Zodiac Aerospace to enhance
its production capacity and cater to a larger consumer base.
The market participants are focused on developing advanced technology for ejection
seats to provide improved pilot protection. For instance, in July 2016, UTC Aerospace
Systems unveiled its next-generation ejection seat ACES 5 with the incorporation of
advanced technology including sensor fusion, binocular 40-degree view, and liquid
crystal display. This ejection seat restraints legs and arms from flailing and protects
pilot heads from twisting
FutureWise Takeaways
●
Growth prospects
●
SWOT analysis
●
Key trends
●
Key data points affecting market growth
Objectives of the Study:
● To provide an exhaustive analysis on the global aircraft evacuation market by
equipment type, by aircraft type, by fit and by region
● To cater comprehensive information on factors impacting market growth
(drivers, restraints, opportunities, and industry-specific restraints)
●
To evaluate and forecast micro-markets and the overall market
● To predict the market size, in key regions (along with countries)—North
America, Europe, Asia Pacific, Latin America, and the rest of the world
● To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
● Profiling of companies to evaluate their market shares, strategies, financials and
core competencies
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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